Strong Financial Performance
Frontera delivered $76.1 million in operating EBITDA and ended the quarter with a strong cash balance of $197.5 million. The company also successfully completed an $80 million tender offer and consent solicitation of its senior notes, reducing upstream net debt by 20%.
Increased Production
Total production increased to 41,055 barrels per day, driven by increased processing capacity, investments in new flow lines, and successful well interventions.
Cost Reductions
Production costs were reduced by 10.3% to $9.1 per barrel quarter-over-quarter, and transportation costs were reduced by 5.7% to $11.62 per barrel.
Successful Capital Return Strategy
Over the last 12 months, Frontera returned over $144 million to shareholders through dividends and share buybacks, highlighting its commitment to returning capital to investors.
Sustainability and Operational Efficiency
Frontera achieved a total recordable incident rate of 0.71 and a water reuse rate of 37.6% within operational activities, reflecting progress towards 2028 sustainability goals.