Frontera Energy closes sale of Colombian E&P assets to Parex Resources

The Parex Resources logo is seen in an undated handout image. THE CANADIAN PRESS/Handout-Parex Resources (Mandatory Credit)

CALGARY — Frontera Energy Corp. says it has completed the sale of its Colombian exploration and production assets to Parex Resources Inc. in a deal valued at US$750 million including assumed debt.

In connection with the transaction, Frontera announced a return of capital distribution to shareholders of C$8.34 per share.

Frontera chief executive Orlando Cabrales Segovia says the transaction marked an important milestone for the company.

He says Frontera is now well positioned as a focused infrastructure company with a clear path for growth.

Frontera holds a 35 per cent interest in the Oleoducto de Los Llanos Orientales S.A., one of Colombia’s main crude oil pipelines, and its 99.97 per cent stake in Puerto Bahia, a maritime terminal in Colombia.

Parex says the Frontera deal adds 37,000 barrels of oil equivalent per day of production.

This report by The Canadian Press was first published June 1, 2026.