Parex Resources reports Q3 2026 average production of 83,259 boe/d and reiterates H2 guidance
On October 8, 2026, Parex Resources (TSX: PXT) put out preliminary average production numbers for Q3 2026: 83,259 boe/d. The Calgary-based company also confirmed it’ll drop its full Q3 2026 financial and operating results before markets open on November 6, 2026.
Q3 2026 production reaches 83,259 boe/d
That 83,259 boe/d figure is still preliminary — final reconciliation is pending — but the monthly breakdown tells its own story. July came in at 83,050 boe/d, August dipped slightly to 82,250 boe/d, then September bounced back to 84,500 boe/d, making it the strongest month of the quarter.
Heavy crude oil carried most of the weight, averaging 58,038 bbl/d across Q3. Light and medium crude added 22,217 bbl/d, with conventional natural gas and natural gas liquids rounding things out.
That’s a real volume boost tied to a single, defined event, which gives the guidance more concrete footing than a vague exploration promise would.
The full financial picture won’t take long to arrive. Parex plans to release complete Q3 2026 results before markets open on November 6, followed by a conference call and webcast at 9:30 am MT (11:30 am ET) for anyone who wants to hear management’s take directly.
Near-field exploration at LLA-111 drives September uptick
September’s 84,500 boe/d was the quarter’s peak. Parex points to near-field exploration results at LLA-111 in the Eastern Llanos as the main driver — a block that has quietly grown into a more significant part of the company’s production story.
The Llanos basin stayed the backbone of overall output, contributing 58,290 boe/d for the quarter, by far the largest regional share. LLA-34 alone accounted for 18,813 boe/d within that, which shows just how concentrated production remains in Colombia’s interior.
Outside the Llanos, the numbers were more modest. The Magdalena basin added 5,309 boe/d, while Putumayo contributed 847 boe/d. Together those two regions made up a small slice of total output, though that balance is expected to shift. Drilling at LLA-111 is ongoing, and recent performance there suggests the near-field strategy is working.
Ecopetrol partnership and LLA-111 to drive H2 2026 growth
With Q3 wrapped up, Parex is sticking to its H2 2026 average production guidance of 82,000 to 91,000 boe/d. That’s a wide range, but the company has two specific catalysts it’s counting on to push toward the upper end.
First: a scheduled November addition of roughly 7,000 bbl/d (net) from a partnership with Ecopetrol in the Magdalena basin. That’s a real volume boost tied to a single, defined event, which gives the guidance more concrete footing than a vague exploration promise would.
Continued success at LLA-111 is the other driver. If drilling results keep trending the right way, that Eastern Llanos block could add meaningfully to Q4 totals alongside the Ecopetrol contribution. Parex also reaffirmed its full-year 2026 average production guidance of 63,000 to 67,000 boe/d — unchanged from what it reiterated on July 30, 2026 — signaling management’s confidence that Q3 performance keeps the annual target within reach.
Worth noting: all guidance figures are forward-looking and subject to the usual risks, including drilling outcomes, regulatory approvals in Colombia, and broader operational variables.
Parex operates as Colombia’s largest independent oil and gas producer
A little context helps make sense of those numbers. Parex describes itself as the largest independent oil and gas producer in Colombia, focused on conventional production, headquartered in Calgary with an operating office in Bogotá.
Shares trade on the Toronto Stock Exchange under the ticker PXT. The company’s operations span three Colombian basins — Llanos, Magdalena, and Putumayo — each carrying its own production profile and exploration potential, which puts it within reach for Canadian investors tracking Latin American energy.
The upcoming Ecopetrol arrangement in the Magdalena represents a meaningful expansion of Parex’s Colombian footprint heading into year-end. Ecopetrol is Colombia’s national oil company, so a production-sharing deal with it carries real strategic weight.
What to watch heading into Q4
Here’s the short version: Parex averaged 83,259 boe/d in Q3 2026, with September’s 84,500 boe/d marking the quarter’s high point, driven largely by LLA-111 exploration results. The Llanos basin — led by LLA-34 and LLA-111 — carried the bulk of output, while Magdalena and Putumayo played supporting roles.
Two catalysts are expected to push production higher in Q4: the November Ecopetrol partnership volumes and continued drilling success at LLA-111. Both H2 2026 guidance (82,000–91,000 boe/d) and full-year 2026 guidance (63,000–67,000 boe/d) remain on the table.
If you’re tracking this closely, mark November 6, 2026 on your calendar. That’s when Parex releases the full Q3 financial and operating results, and you’ll get a clearer picture of how the quarter actually translated into revenue, costs, and cash flow.
Kelly is an experienced writer with 15 years of experience exploring the big stories that shape our world, from tech breakthroughs and space exploration to climate, energy, and the fascinating quirks of science. She has a talent for turning complex ideas into sharp, memorable insights that stay with readers long after they’ve finished reading.
