08:31 AM EST, 11/04/2025 (MT Newswires) -- Parex Resources ( PARXF ) on Tuesday said its third-quarter profit fell 23% on lower oil and gas prices and weaker production.

The Colombian oil and gas producer said it earned US$50.48 million, or US$0.53 per share, in the period, down from US$65.79 million, or US$0.65, in the year-prior quarter.

Revenue was not provided, but the company said its oil and gas production fell 7.6% to 43,953 barrels of oil equivalent per day (boepd) from 47,569 boepd, while its average price per barrel equivalent was down 9.2% to US$62.41. Funds from operations fell 31% to US$105.3 million, or US$1.09 per share.

The company reiterated its 2025 production guidance of 43,000 to 47,000 boepd, while saying fourth-quarter output could top its guidance range. It said capital spending this year is likely to be near the US$315-million upper end of its target range.

Parex also approved a fourth-quarter dividend of C$0.385 per share, paid on Dec. 15 to shareholders of record on Dec. 8.

The company's shares closed up C$0.65 to C$18.59 Monday on the Toronto Stock Exchange.