Frontera's interest in the ODL pipeline and in Puerto Bahia creates a unique standalone midstream business which provides shareholders with significant upside potential. Since 2019, the Company has increased its interest in Puerto Bahia by approximately 60% to 99.8%. Frontera now owns 35% of the ODL pipeline, which generated over $215 million in EBITDA in 2022. In 2022, Frontera advanced the Company's exciting development and lower-risk exploration portfolio in Colombia and Ecuador and started investments in additional water-handling facilities at Quifa and CPE-6 in support of the Company's 50,000 boe/d production target.Īlso in 2022, Frontera strengthened its midstream portfolio with the acquisition of the remaining 40% interest in Pipeline Investment Limited. The Company is focused on unlocking shareholder value from its upstream Colombia and Ecuador business, its standalone and growing midstream business and its potentially transformational offshore exploration program in Guyana. In addition, since 2017, the Company has resolved more than $2.6 billion in contingent liabilities and commitments, permanently eliminating legacy issues. Since 2018, Frontera has returned more than $300 million to shareholders through dividends and share buybacks while maintaining strong credit metrics. In 2022, the Company returned over $91 million to shareholders through its NCIB and SIB programs. The Company finished the year with a total cash position of approximately $313 million including restricted cash of $23 million.įrontera remains committed to enhancing shareholder returns.
#Encore energy 2800 la frontera full#
The Company increased full year operating EBITDA by 70% to $641.9 million, within the Company's $90- $100/bbl 2022 guidance range. The Company delivered average daily production of 41,382 boe/d, a 9% increase compared to its 2021 production average and in-line with its increased and tightened 2022 production guidance.
"2022 was a strong financial and operational year for Frontera. Gabriel de Alba, Chairman of the Board of Directors, commented: All financial amounts in this news release are in United States dollars, unless otherwise stated. 1, 2023 /CNW/ - Frontera Energy Corporation (TSX: FEC) (" Frontera" or the " Company") today reported financial and operational results for the fourth quarter and year ended December 31, 2022. The Company Reiterates 2023 Production Guidance Of 40,000-43,000 Boe/d, Increased Water-Handling Capacity at Quifa and CPE-6 Key Milestones on Path to 50,000 Boe/d FutureĬALGARY, AB, Mar. Repurchased 9.6 Million Common Shares Or 20% of the Public Float, Returned More Than $91.4 Million To Shareholders in 2022 Via SIB and NCIBĪchieved 102% of 2022 ESG Goals, Offset 52% Of Emissions Through Carbon Credits, Preserved And Restored 1,747 Hectares of Key Connectivity Corridors In Casanare And Meta, Colombia Wei-1 Well Currently Ahead of Schedule and At 15,400 Feet
Generated $54.3 Million of Midstream Segment Income, From Standalone and Growing Midstream Business Recorded Net Income of $197.8 Million in Q4'22 and $286.6 Million for FY'22ĭelivered Full Year Operating EBITDA of $641.9 Million, Up 70% On Frontera's $98/Bbl Weighted Average Brent Priceĭelivered 41,382 Boe/d 2022 Average Daily Production, Up 9%
0 kommentar(er)
