The earnings call outlined a strong financial and operational performance with significant progress in reserves and strategic initiatives. Tax and pricing improvements, alongside a robust plan for shareholder returns, further contribute to a positive outlook. Despite a minor decrease in PDP reserves, the overall sentiment is optimistic.

Company Guidance -

Q1 2025

During Parex Resources' 2024 year-end conference call, the company reported robust financial and operational performance despite facing headwinds throughout the year. Key metrics highlighted include generating $275 million in free funds flow, achieving a quarterly funds flow of $141 million, and maintaining a production average of 45,297 BOE per day. Their 2024 results also saw a growth in 1P and 2P reserves per share, although PDP per share decreased slightly. Operational efforts included advancing waterflood and polymer injection techniques at key blocks, contributing to improved recovery factors. The company anticipates a reduced effective tax rate of 3% to 6% for 2025 at $70 per barrel Brent, alongside a Vasconia differential currently below $2 per barrel, down from the 2024 average of $5 per barrel. Looking forward, Parex plans to ramp up to four rigs in the second quarter of 2025 and focus on low-risk activities to enhance shareholder returns, which have amounted to C$1.5 billion over the past five years.

Strong Financial Performance

Generated $275 million in free funds flow, the third highest in the company's history, and $141 million in funds flow provided by operations for the quarter.

Positive Reserves Report

Grew 1P and 2P reserves per share in 2024, with strategic application of technology leading to increased recovery factors in key assets like LLA-34 and Cabrestero.

Operational Progress

Production averaged 45,297 BOE per day, meeting the revised guidance. Significant progress in waterflood and polymer activities and gas exploration plans.

Tax and Pricing Improvements

Achieved a $6 million current tax recovery, with an expected lower effective tax rate of 3% to 6% in 2025. Vasconia differential improved to below $2 per barrel.

Shareholder Returns

Returned C$1.5 billion to shareholders over the past five years, more than the current market cap, with plans to continue strengthening returns.

Best Safety Performance

2024 marked the company's best safety performance, highlighting employee dedication.

Parex Resources (TSE:PXT) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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TSE:PXT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 30, 2025	2025 (Q2)	- / -	―	―	―	―
May 08, 2025	2025 (Q1)	0.67 / 1.13	0.797	41.38% (+0.33)	―
Mar 05, 2025	2024 (Q4)	1.02 / -0.96	1.759	-154.69% (-2.72)	―
Nov 06, 2024	2024 (Q3)	1.10 / 0.89	1.553	-42.48% (-0.66)	―
Jul 31, 2024	2024 (Q2)	1.09 / 0.05	1.305	-95.79% (-1.25)	―
May 08, 2024	2024 (Q1)	1.03 / 0.80	1.319	-39.58% (-0.52)	―
Feb 29, 2024	2023 (Q4)	1.44 / 1.76	3.147	-44.10% (-1.39)	―
Nov 07, 2023	2023 (Q3)	1.22 / 1.55	0.811	91.53% (+0.74)	―
Aug 02, 2023	2023 (Q2)	1.37 / 1.31	1.704	-23.39% (-0.40)	―
May 10, 2023	2023 (Q1)	1.15 / 1.32	1.773	-25.58% (-0.45)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

TSE:PXT Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 08, 2025	C$10.29	C$11.07	+7.67%
Mar 05, 2025	C$11.88	C$11.62	-2.22%
Nov 06, 2024	C$12.19	C$12.87	+5.59%
Jul 31, 2024	C$18.49	C$16.53	-10.62%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Parex Resources (TSE:PXT) report earnings?

Parex Resources (TSE:PXT) is schdueled to report earning on Jul 30, 2025, TBA (Confirmed).

What is Parex Resources (TSE:PXT) earnings time?

Parex Resources (TSE:PXT) earnings time is at Jul 30, 2025, TBA (Confirmed).

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