Frontera Energy Corporate Snapshot Q2 2018 Production Mix All Dollar Values in USD Natural Gas Capital Structure(1) Heavy Oil 7% Shares Outstanding (TSX: FEC; MM) 100 Market Cap (MM)(2) 1,384 37% 64.1 Mboe/d Total Cash(3)…
Second Quarter 2018 Operational & Financial Highlights Strong Financial Results Q2 2018 Q1 2018 % Chg. PRICE / REVENUE / PRODUCTION Brent oil prices increased 12% quarter-over-quarter which helped Total Production (Boe/d)(1) 64,140…
Revising EBITDA Guidance Upwards Increasing Brent Oil Price Forecast from 63/bbl to 70/bbl 2018 Updated Guidance Metrics and Year-to-Date Performance 2018 Year to Date Original New Change Operating EBITDA(1) 211MM 375 - 425MM 400 - 450MM…
Corporate Responsibility Committed to Sustainable Operations Sustainability & Shared Value Model 2018 and 2017 United Nations Global Compact awards recipient For the fourth year in a row, we were selected as one of Canadas top…
Key Value Drivers Unlocking Growth Initiatives Refinancing of the Exit Notes Eliminating Ship-or-Pay Agreements Adding New Barrels Through Exploration - High Impact Exploration - Near Field Exploration Continued Focus on…
Balance Sheet Strength Strong Cash Position, Low Leverage Ratios Balance Sheet Metrics Total Cash(1) /Cash and Cash Equivalents (MM) 730/551 Net Debt/EBITDA(2) (0.5)x Debt to Book Capitalization(3) 23.2% Interest Coverage(4)…
Transportation Costs P-135 Arbitration Settlement, Termination of Ship or Pay Contracts Quarterly Transportation Cost (/boe) 14.19 14.28 12.68 11.77 11.81 Transport Cost (/Boe) Q217 Q317 Q417 Q118 Q218 Fees Paid on Suspended…
Transportation Commitments Summary Over 1.5 Billion Reduction in 2018 Transportation Commitments (MM) Transportation Commitments (MM) (Ship-or-Pay) December 31, 2017 (Ship-or-Pay) June 30, 2018 Other ToP(1) 2,876 P135(2) 425…
Largest Independent O&G Company in Colombia North Andean Focus 11
Llanos 25: High-Impact Exploration Potential to Add New Production and Reserves Acorazado-1 exploration well proves extension of the Cusiana Field which contains resources which have never been previously drilled and developed…
Guatiqua: Building on Deep Llanos Success Development & Exploration Opportunities Successful 2017 development expanded resource (8 MMBbl 2P reserves added) Ardilla-4 proved northern extension Alligator-1 & 2 exploration wells prove…
Quifa: Corner Stone of Heavy Oil Production Stable Production with Exploration Upside 2018 Activity: 89 horizontal well infill drilling program Vertical drilling program underway to increase Hz well inventory Expanding water…
Peru: Block 192 Potential for New Contract Force majeure lifted in early September 2018. Work over and well service activities undertaken during the shut down has helped increase production to 10,000 bbl/d since it was restarted…
Continued Focus on Operational Efficiencies Delivering a Better Cost Structure Reducing Capital Costs Through Better Well Design Reducing Operating Costs Through Improved Operational Efficiencies Reducing G&A Costs Through…
Realizing Value from Non-Core Assets Midstream and Infrastructure Assets Hold Significant Value 1) Puerto Baha 2) ODL Pipeline 39.2% Indirect Interest(1) 35.0% Indirect Interest(3) Ships the Companys heavy crude oil from Quifa SW…
2018 Brent Oil Hedging Summary Upside to Cash Flow after Hedges Expire at End of October FWD July 25th Floor Ceiling 78 74.87 The positive impact of 74.11 74.19 74.18 74.07 73.89 74 Fronteras exposure to strong Brent oil prices…
Investment Opportunity Positioning for Growth 1. 93% oil weighted with Brent price exposure 2. Strong balance sheet total cash of 730 million(1) 3. Attractive, low-risk brownfield development opportunities 4. 100% near-field…
Appendix
Peer Valuation Comparison Frontera Trades at a Discount to Peers; Unique Investment Opportunity Enterprise Value (EV) / 2018E EBITDA(1) EV / 2P Reserves ( per Boe)(1,2) 6.0x 15.09 Average Average 4.3x 4.2x 11.22 3.9x 3.7x 10.80…
Frontera Share Price and Average Daily Volume December 2016 to September 2018 35.00 300,000 30.00 250,000 NCIB July 18, 2018 25.00 Share Split 200,000 June 26, 2018 20.00 150,000 15.00 100,000 10.00 50,000…
Cubiro: Secondary Recovery in the Central Llanos Waterflood Project Maintains Stable Production 2018 activity: Waterflooding pilot commenced in January Positive response observed Expanding waterflood across field Potential to…
Peru: Block Z1 Shallow Offshore Exploration Existing producing fields at Corvina and Albacora in close proximity to Talara Refinery Strong pricing - 1.00 to 2.00 discount to Brent Delfin Sur-1 exploration well: Started drilling…
2017 Reserves Evaluation Results Replaced 2017 Production and Increased 2P NPV10 Value 2P Net Reserves - MMBOE NPV by Category 10% (MMUSD) 200 27 -26 3,000 -18 2,523 150 2,500 2,324 1,932 587 2,000 1,918 751 100 494 402 1,500 714…
Proven Management Team Over 36 years of experience with major international oil & gas companies, including BP, Talisman Energy, and Richard Herbert Phillips Petroleum CEO Responsible for major exploration and development initiatives…
Independent Board of Directors Engaged and Active in Generating Shareholder Value Gabriel de Alba Managing Director and Partner of The Catalyst Capital Group Inc. Chairman International experience restructuring public and private…
INVESTOR RELATIONS CONTACT: Grayson M. Andersen Corporate Vice President, Capital Markets Calle 110, No 9 25, Piso 16 Bogota, DC, Colombia +57 (314) 250-1467 gandersenfronteraenergy.ca irfronteraenergy.ca
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