Parex Resources (TSE:PXT) has released an update.
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Parex Resources has reported a significant 80% increase in free funds flow year-over-year for the first half of 2024, driven by strong performance from core assets and reduced capital expenditures. The company has adjusted its operational strategy by reallocating capital to promising projects and declared a Q3 2024 dividend of C$0.385 per share. Despite a pause in activities at Arauca, Parex is on track to meet its annual production guidance and has continued its share repurchase program.
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