Parex Resources Announces 12 Consecutive Years of Reserves Per Share Growth, a 50% Increase to the Regular Dividend and Provides 2023 Guidance Update

CALGARY, Alberta, Feb. 02, 2023 (GLOBE NEWSWIRE) -- Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT) is pleased to announce the results of its annual independent reserves assessment as at December 31, 2022, as well as a corporate update. The financial and operational information contained below is based on the Company’s unaudited estimated results for year-end December 31, 2022. All currency amounts are in United States dollars unless otherwise stated. The following reserves categories are discussed in this news release: proved developed producing ("PDP"); proved ("1P"); proved plus probable ("2P"); and proved plus probable plus possible ("3P").

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