Frontera Energy Corp (OTC) ( (FECCF) ) has released its Q4 earnings. Here is a breakdown of the information Frontera Energy Corp (OTC) presented to its investors.
Frontera Energy Corporation is a Canadian company engaged in the exploration, development, production, transportation, storage, and sale of oil and natural gas in South America, with a diversified portfolio of assets across Colombia, Ecuador, and Guyana.
In its latest earnings report, Frontera Energy Corp announced a net loss of $24.2 million for the full year 2024, despite generating $424 million in Operating EBITDA and achieving all its guidance metrics. The company also reported a strong cash position of $223 million and a reduction in total consolidated debt by over $30 million.
Key financial highlights include an average annual production of 40,288 barrels of oil equivalent per day (boe/d) and a production cost of $9.34 per boe. The company recorded 151.3 million barrels of oil equivalent (Boe) in 2P gross reserves and achieved a 1P reserves replacement ratio of 45%. Additionally, Frontera’s infrastructure business generated $107 million in adjusted EBITDA, with significant developments such as a new LPG joint venture and the nearing completion of the Reficar connection.
Frontera’s management remains optimistic about the future, focusing on executing its strategic plan, maintaining sustainable production, and enhancing investor returns. The company is addressing recent well failures and is confident in meeting its 2025 production guidance, while also considering further shareholder initiatives such as dividends and bond buybacks based on business performance and market conditions.