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FRONTERA COMPLETES DIVESTMENT OF ITS COLOMBIAN E&P ASSETS PORTFOLIO TO PAREX RESOURCES; POSITIONS ITSELF AS A STANDALONE INFRASTRUCTURE COMPANY ANNOUNCES RETURN OF CAPITAL DISTRIBUTION TO SHAREHOL

Mon, 01 Jun 2026 08:59:00 -0400

Frontera's Delivered Approximately $1.3 Billion to Investors from Multi-Year Value Creation Initiatives

Initial Distribution Delivers C$8.34 per Share in Cash to Shareholders

Frontera Infrastructure Will Have $64 Million Cash For Growth

CALGARY, AB, June 1, 2026 /PRNewswire/ - Frontera Energy Corporation (TSX: FEC) ("Frontera" or the "Company") today announced the successful completion of the previously announced plan of arrangement pursuant to which Parex Resources Inc. (TSX: PXT) ("Parex") through its wholly-owned subsidiary Parex AcquisitionCo Inc. has acquired 100% of Frontera International Holdings B.V.,

FRONTERA COMPLETES DIVESTMENT OF ITS COLOMBIAN E&P ASSETS PORTFOLIO TO PAREX RESOURCES; POSITIONS ITSELF AS A STANDALONE INFRASTRUCTURE COMPANY ANNOUNCES RETURN OF CAPITAL DISTRIBUTION TO SHAREHOL

Mon, 01 Jun 2026 08:59:00 -0400

Frontera's Delivered Approximately $1.3 Billion to Investors from Multi-Year Value Creation Initiatives

Initial Distribution Delivers C$8.34 per Share in Cash to Shareholders

Frontera Infrastructure Will Have $64 Million Cash For Growth

FRONTERA COMPLETES DIVESTMENT OF ITS COLOMBIAN E&P ASSETS PORTFOLIO TO PAREX RESOURCES; POSITIONS ITSELF AS A STANDALONE INFRASTRUCTURE COMPANY ANNOUNCES RETURN OF CAPITAL DISTRIBUTION TO SHAREHOL

Mon, 01 Jun 2026 08:59:00 -0400

Frontera's Delivered Approximately $1.3 Billion to Investors from Multi-Year Value Creation Initiatives

Initial Distribution Delivers C$8.34 per Share in Cash to Shareholders

Frontera Infrastructure Will Have $64 Million Cash For Growth

FRONTERA COMPLETES DIVESTMENT OF ITS COLOMBIAN E&P ASSETS PORTFOLIO TO PAREX RESOURCES; POSITIONS ITSELF AS A STANDALONE INFRASTRUCTURE COMPANY ANNOUNCES RETURN OF CAPITAL DISTRIBUTION TO SHAREHOL

Mon, 01 Jun 2026 08:59:00 -0400

Frontera's Delivered Approximately $1.3 Billion to Investors from Multi-Year Value Creation Initiatives

Initial Distribution Delivers C$8.34 per Share in Cash to Shareholders

Frontera Infrastructure Will Have $64 Million Cash For Growth

FRONTERA COMPLETES DIVESTMENT OF ITS COLOMBIAN E&P ASSETS PORTFOLIO TO PAREX RESOURCES; POSITIONS ITSELF AS A STANDALONE INFRASTRUCTURE COMPANY ANNOUNCES RETURN OF CAPITAL DISTRIBUTION TO SHAREHOL

Mon, 01 Jun 2026 08:59:00 -0400

Frontera's Delivered Approximately $1.3 Billion to Investors from Multi-Year Value Creation Initiatives

Initial Distribution Delivers C$8.34 per Share in Cash to Shareholders

Frontera Infrastructure Will Have $64 Million Cash For Growth

FRONTERA COMPLETES DIVESTMENT OF ITS COLOMBIAN E&P ASSETS PORTFOLIO TO PAREX RESOURCES; POSITIONS ITSELF AS A STANDALONE INFRASTRUCTURE COMPANY ANNOUNCES RETURN OF CAPITAL DISTRIBUTION TO SHAREHOL

Mon, 01 Jun 2026 08:59:00 -0400

Frontera's Delivered Approximately $1.3 Billion to Investors from Multi-Year Value Creation Initiatives

Initial Distribution Delivers C$8.34 per Share in Cash to Shareholders

Frontera Infrastructure Will Have $64 Million Cash For Growth

FRONTERA COMPLETES DIVESTMENT OF ITS COLOMBIAN E&P ASSETS PORTFOLIO TO PAREX RESOURCES; POSITIONS ITSELF AS A STANDALONE INFRASTRUCTURE COMPANY ANNOUNCES RETURN OF CAPITAL DISTRIBUTION TO SHAREHOL

Mon, 01 Jun 2026 08:59:00 -0400

Frontera's Delivered Approximately $1.3 Billion to Investors from Multi-Year Value Creation Initiatives

Initial Distribution Delivers C$8.34 per Share in Cash to Shareholders

Frontera Infrastructure Will Have $64 Million Cash For Growth

FRONTERA COMPLETES DIVESTMENT OF ITS COLOMBIAN E&P ASSETS PORTFOLIO TO PAREX RESOURCES; POSITIONS ITSELF AS A STANDALONE INFRASTRUCTURE COMPANY ANNOUNCES RETURN OF CAPITAL DISTRIBUTION TO SHAREHOL

Mon, 01 Jun 2026 08:59:00 -0400

Frontera's Delivered Approximately $1.3 Billion to Investors from Multi-Year Value Creation Initiatives

Initial Distribution Delivers C$8.34 per Share in Cash to Shareholders

Frontera Infrastructure Will Have $64 Million Cash For Growth

FRONTERA COMPLETES DIVESTMENT OF ITS COLOMBIAN E&P ASSETS PORTFOLIO TO PAREX RESOURCES; POSITIONS ITSELF AS A STANDALONE INFRASTRUCTURE COMPANY ANNOUNCES RETURN OF CAPITAL DISTRIBUTION TO SHAREHOL

Mon, 01 Jun 2026 08:59:00 -0400

Frontera's Delivered Approximately $1.3 Billion to Investors from Multi-Year Value Creation Initiatives

Initial Distribution Delivers C$8.34 per Share in Cash to Shareholders

Frontera Infrastructure Will Have $64 Million Cash For Growth

FRONTERA COMPLETES DIVESTMENT OF ITS COLOMBIAN E&P ASSETS PORTFOLIO TO PAREX RESOURCES; POSITIONS ITSELF AS A STANDALONE INFRASTRUCTURE COMPANY ANNOUNCES RETURN OF CAPITAL DISTRIBUTION TO SHAREHOL

Mon, 01 Jun 2026 08:59:00 -0400

Frontera's Delivered Approximately $1.3 Billion to Investors from Multi-Year Value Creation Initiatives

Initial Distribution Delivers C$8.34 per Share in Cash to Shareholders

Frontera Infrastructure Will Have $64 Million Cash For Growth

FRONTERA COMPLETES DIVESTMENT OF ITS COLOMBIAN E&P ASSETS PORTFOLIO TO PAREX RESOURCES; POSITIONS ITSELF AS A STANDALONE INFRASTRUCTURE COMPANY ANNOUNCES RETURN OF CAPITAL DISTRIBUTION TO SHAREHOL

Mon, 01 Jun 2026 08:59:00 -0400

Frontera's Delivered Approximately $1.3 Billion to Investors from Multi-Year Value Creation Initiatives

Initial Distribution Delivers C$8.34 per Share in Cash to Shareholders

Frontera Infrastructure Will Have $64 Million Cash For Growth

FRONTERA COMPLETES DIVESTMENT OF ITS COLOMBIAN E&P ASSETS PORTFOLIO TO PAREX RESOURCES; POSITIONS ITSELF AS A STANDALONE INFRASTRUCTURE COMPANY ANNOUNCES RETURN OF CAPITAL DISTRIBUTION TO SHAREHOL

Mon, 01 Jun 2026 08:59:00 -0400

Frontera's Delivered Approximately $1.3 Billion to Investors from Multi-Year Value Creation Initiatives

Initial Distribution Delivers C$8.34 per Share in Cash to Shareholders

Frontera Infrastructure Will Have $64 Million Cash For Growth

FRONTERA COMPLETES DIVESTMENT OF ITS COLOMBIAN E&P ASSETS PORTFOLIO TO PAREX RESOURCES; POSITIONS ITSELF AS A STANDALONE INFRASTRUCTURE COMPANY ANNOUNCES RETURN OF CAPITAL DISTRIBUTION TO SHAREHOL

Mon, 01 Jun 2026 08:59:00 -0400

Frontera's Delivered Approximately $1.3 Billion to Investors from Multi-Year Value Creation Initiatives

Initial Distribution Delivers C$8.34 per Share in Cash to Shareholders

Frontera Infrastructure Will Have $64 Million Cash For Growth

FRONTERA COMPLETES DIVESTMENT OF ITS COLOMBIAN E&P ASSETS PORTFOLIO TO PAREX RESOURCES; POSITIONS ITSELF AS A STANDALONE INFRASTRUCTURE COMPANY ANNOUNCES RETURN OF CAPITAL DISTRIBUTION TO SHAREHOL

Mon, 01 Jun 2026 08:59:00 -0400

Frontera's Delivered Approximately $1.3 Billion to Investors from Multi-Year Value Creation Initiatives

Initial Distribution Delivers C$8.34 per Share in Cash to Shareholders

Frontera Infrastructure Will Have $64 Million Cash For Growth

FRONTERA COMPLETES DIVESTMENT OF ITS COLOMBIAN E&P ASSETS PORTFOLIO TO PAREX RESOURCES; POSITIONS ITSELF AS A STANDALONE INFRASTRUCTURE COMPANY ANNOUNCES RETURN OF CAPITAL DISTRIBUTION TO SHAREHOL

Mon, 01 Jun 2026 08:59:00 -0400

Frontera's Delivered Approximately $1.3 Billion to Investors from Multi-Year Value Creation Initiatives

Initial Distribution Delivers C$8.34 per Share in Cash to Shareholders

Frontera Infrastructure Will Have $64 Million Cash For Growth

FRONTERA COMPLETES DIVESTMENT OF ITS COLOMBIAN E&P ASSETS PORTFOLIO TO PAREX RESOURCES; POSITIONS ITSELF AS A STANDALONE INFRASTRUCTURE COMPANY ANNOUNCES RETURN OF CAPITAL DISTRIBUTION TO SHAREHOL

Mon, 01 Jun 2026 08:59:00 -0400

Frontera's Delivered Approximately $1.3 Billion to Investors from Multi-Year Value Creation Initiatives

Initial Distribution Delivers C$8.34 per Share in Cash to Shareholders

Frontera Infrastructure Will Have $64 Million Cash For Growth

FRONTERA COMPLETES DIVESTMENT OF ITS COLOMBIAN E&P ASSETS PORTFOLIO TO PAREX RESOURCES; POSITIONS ITSELF AS A STANDALONE INFRASTRUCTURE COMPANY ANNOUNCES RETURN OF CAPITAL DISTRIBUTION TO SHAREHOL

Mon, 01 Jun 2026 08:59:00 -0400

Frontera's Delivered Approximately $1.3 Billion to Investors from Multi-Year Value Creation Initiatives

Initial Distribution Delivers C$8.34 per Share in Cash to Shareholders

Frontera Infrastructure Will Have $64 Million Cash For Growth

FRONTERA COMPLETES DIVESTMENT OF ITS COLOMBIAN E&P ASSETS PORTFOLIO TO PAREX RESOURCES; POSITIONS ITSELF AS A STANDALONE INFRASTRUCTURE COMPANY ANNOUNCES RETURN OF CAPITAL DISTRIBUTION TO SHAREHOL

Mon, 01 Jun 2026 08:59:00 -0400

Frontera's Delivered Approximately $1.3 Billion to Investors from Multi-Year Value Creation Initiatives

Initial Distribution Delivers C$8.34 per Share in Cash to Shareholders

Frontera Infrastructure Will Have $64 Million Cash For Growth

FRONTERA COMPLETES DIVESTMENT OF ITS COLOMBIAN E&P ASSETS PORTFOLIO TO PAREX RESOURCES; POSITIONS ITSELF AS A STANDALONE INFRASTRUCTURE COMPANY ANNOUNCES RETURN OF CAPITAL DISTRIBUTION TO SHAREHOL

Mon, 01 Jun 2026 08:59:00 -0400

Frontera's Delivered Approximately $1.3 Billion to Investors from Multi-Year Value Creation Initiatives

Initial Distribution Delivers C$8.34 per Share in Cash to Shareholders

Frontera Infrastructure Will Have $64 Million Cash For Growth

FRONTERA COMPLETES DIVESTMENT OF ITS COLOMBIAN E&P ASSETS PORTFOLIO TO PAREX RESOURCES; POSITIONS ITSELF AS A STANDALONE INFRASTRUCTURE COMPANY ANNOUNCES RETURN OF CAPITAL DISTRIBUTION TO SHAREHOL

Mon, 01 Jun 2026 08:59:00 -0400

Frontera's Delivered Approximately $1.3 Billion to Investors from Multi-Year Value Creation Initiatives

Initial Distribution Delivers C$8.34 per Share in Cash to Shareholders

Frontera Infrastructure Will Have $64 Million Cash For Growth

Parex Resources completes $500 million acquisition of Frontera E&P

Mon, 01 Jun 2026 08:30:49 -0400

Parex Resources Inc. (TSX: PXT) completed its acquisition of Frontera Energy Corporation's Colombian exploration and production assets for $500 million in cash. The Calgary-based company acquired 100% of Frontera Petroleum International Holdings B.V., with funding from proceeds of recently issued senior unsecured notes and assumption of net debt.

The transaction includes a potential additional payment of $25 million contingent on executing a contract extension within 12 months. The effective transaction date was January 1, 2026, with free funds flow generated by Frontera E&P prior to closing reducing the net consideration paid.

The acquisition adds 37,000 barrels of oil equivalent per day of

Parex Resources completes $500 million acquisition of Frontera E&P

Mon, 01 Jun 2026 08:30:49 -0400

The acquisition adds 37,000 barrels of oil equivalent per day of

Parex Resources completes $500 million acquisition of Frontera E&P

Mon, 01 Jun 2026 08:30:49 -0400

The acquisition adds 37,000 barrels of oil equivalent per day of

Parex Resources completes $500 million acquisition of Frontera E&P

Mon, 01 Jun 2026 08:30:49 -0400

The acquisition adds 37,000 barrels of oil equivalent per day of

Parex Resources Completes Acquisition of Frontera E&P, Becoming Colombia’s Largest Independent Oil & Gas Producer

Mon, 01 Jun 2026 08:30:00 -0400

CALGARY, Alberta, June 01, 2026 (GLOBE NEWSWIRE) -- Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT) is pleased to announce the successful closing of its previously announced acquisition of all the Colombian exploration and production assets of Frontera Energy Corporation. Pursuant to the transaction, Parex acquired 100% of Frontera Petroleum International Holdings B.V. (“Frontera E&P”) for cash consideration of US$500 million, funded with the proceeds from Parex’s recent issuance of senior unsecured notes, and the assumption of net debt (the “Transaction”). An additional contingent payment of US$25 million is payable upon the execution of a certain