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2019 Investor Day Full Presentation – Frontera Energy Corp.

Frontera Energy Corp. · Feb 26, 2019 · 134 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 1
  2. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 2
    Agenda Safety Briefing Chairmans Welcome Strategy & Key Initiatives Operations & Production Break Exploration Transportation Puerto Baha Finance Closing Remarks and Q&A
  3. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 3
    Chairmans Welcome
  4. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 4
    Strategic Implementation Substantial Progress Made Towards Key Board Priorities People Completion of executive team transition to drive execution of strategy Ongoing implementation of optimization and efficiency programs More…
  5. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 5
    Company Strategy Sustaining Base Production for the Next Three to Five Years from Core Assets Optimizing Cash Generation and Delivering Enhanced Shareholder Returns Core Portfolio of Stable Assets with Growth Options Maintain Strong…
  6. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 6
    Frontera Offers Deep Value Following Restructuring Improved Liquidity Driven by Share Buyback and Stock Split Enterprise Value (US)/2019 Guidance (Boe/d)(1) Enterprise Value (US)/2P Reserves (2018/2017) (1) 50,000 18.00 45,000 16.00…
  7. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 7
    Strategy & Key Initiatives
  8. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 8
    The Frontera Leadership Team Presenting Speakers Gabriel de Alba Richard Herbert David Dyck Andrew Kent Grayson Andersen Chairman Chief Executive Officer Chief Financial Officer General Counsel VP, Capital Markets Duncan…
  9. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 9
    The Frontera Leadership Team Presenting Speakers Gabriel de Alba Managing Director and Partner of The Catalyst Capital Group Inc. Chairman International experience restructuring public and private companies, unlocking value for…
  10. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 10
    Regional Strategic Focus North Andean Core Areas Exploration Watching Brief Development Production Exploration Country Entry Production Core Frontera Focus Region 12
  11. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 11
    Regional Strategic Focus North Andean Core Areas Core Focus Area NW South America (North Andean Region) Colombia Ecuador Northern Per Major production opportunities and remaining exploration potential One of the richest oil…
  12. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 12
    Company Strategy Enhancing Fronteras Portfolio and Unlocking Value Pursue Strategic Unlock Sustain Base Production Growth Opportunities Additional Value + Carefully manage core Potential to add new Drive down cost structure…
  13. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 13
    Core Assets Deliver Stable Base Production Seven Year Production Profile from Restructuring to Growth Frontera Daily Production (before royalties Boe/d) In the Portfolio Future Opportunities 90,000 Restructuring Transition Growth…
  14. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 14
    Frontera: A Five Year Journey to Sustainability and Growth Frontera is in Transition 2016 - 2018 Investment restrictions, limited exploration, mature field decline Manage mature field decline 2019 - 2020 New developments and…
  15. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 15
    Key Initiatives to Unlock and Create Value What We Have Done, What We Are Doing, Where We Are Going 2018 2019 Plan Future Restrictive hedges rolled off Improve balance sheet Hedge to protect the balance Corporate G&A reduced by…
  16. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 16
    Key Initiatives to Unlock Value Enhancing the Portfolio and Unlocking Value Termination of ship-or-pay transportation agreements and reduced pipeline tariffs 2018 Series of initiatives intended to address liquidity and valuation…
  17. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 17
    Initiatives that Create Significant Value LONG-TERM Long-Term High Impact Strategy CASH IMPACT Termination of ship-or-pay contracts in 2018 HIGH Transportation Reduce transportation commitments through tariff reductions Bring…
  18. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 18
    Operations & Production
  19. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 19
    Our Portfolio Large Diversified Asset Base with Significant Acreage and Infrastructure CORE Quifa Guatiqua Cubiro SUSTAINING CPE-6 Z-1 Near field exploration GROWTH Colombia new acreage Offshore Guyana Ecuador bid…
  20. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 20
    Core Assets Deliver Stable Base Production Seven Year Production Profile from Restructuring to Growth Frontera Daily Production (before royalties Boe/d) In the Portfolio Future Opportunities 90,000 Restructuring Transition Growth…
  21. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 21
    Quifa: Cornerstone of Heavy Oil Production Stable Production at 27,000 Bbl/d for Five Years Recent Exploration Discoveries 30,000 Quifa, Cajua, Jaspe & Sabanero 25,000 Bbl/d (before royalties) 20,000 15,000 10,000 5,000…
  22. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 22
    Quifa: Cornerstone of Heavy Oil Production Key Characteristics, Activities and Features Contract Name Quifa Contract Contract Type Exploration, Development and Exploitation Contract Term Expiry December 2031 2018 Production…
  23. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 23
    Quifa: New Drilling and Water Control Technologies New Methods and Tools Improve Oil Rates Typical Drilling Curve Better Water Control Improves Returns Conventional Slotted Liner Promotes Fingering Surface Casing AICD: Autonomous…
  24. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 24
    Quifa: Continuous Improvement Initiatives Reduce Drilling Time, Improve Costs 2018 High Performance Notes: Drilling time reduction Maximizing cleaning hole practices Improved time running 7 inch casing and cement jobs ROP…
  25. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 25
    Guatiqua: Cornerstone of Light Oil Production Stable Production at 15,000 Bbl/d for Three Years ACAA, Candelilla, Yatay, Coralillo 20,000 18,000 Bbl/d (before royalties) 16,000 14,000 12,000 10,000 8,000 6,000 4,000…
  26. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 26
    Guatiqua: Building on Deep Llanos Success Key Characteristics, Activities and Features Contract Name Guatiqua Contract Contract Type Exploration, Development and Exploitation Contract Term Expiry August 2035 2018 Production…
  27. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 27
    Coralillo: Part of the Guatiqua Complex Expanding Our Core Light Oil Area Coralillo Development Plan 7,000 6,000 Bbl/d (before royalties) 5,000 4,000 3,000 2,000 1,000 0 Jan-19 Jul-19 Jan-20 Jul-20 Jan-21 Jul-21…
  28. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 28
    Coralillo Field Key Characteristics, Activities and Features Contract Name Guatiqua Contract Type Exploration and Production Contract Term Expiry June 2038 2019 Estimated Capital Expenditures 25 MM Net Acreage 3,882 Working…
  29. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 29
    Coralillo Field Multiple Light Oil Target Zones Guadalupe LS1A LS-3 Guadalupe Lower Sand 1 Lower Sand 3 Productive Reservoir Present in Candelilla Yatay fields Average 12-19 13-19 16 Guadalupe, Lower Sand 1 and Lower Sand 3…
  30. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 30
    Coralillo Field Improved Drilling Performance and Costs Savings 3 SECTION 2 SECTION Indicator 3-Section 2-Section Drilling Avg. Time (Days) 26.2 22.5 Avg. Cost 3.5 MM 3.0 MM CSG 9,625 2,500 ft Cost/Foot 287.5 247.5 Completion…
  31. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 31
    Cubiro: Additional Light Oil Potential Core Growth Area with Development Drilling and Pressure Maintenance Cubiro 14,000 12,000 Bbl/d (before royalties) 10,000 8,000 6,000 4,000 2,000 Successful Waterflood Pilot 0…
  32. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 32
    Cubiro Key Characteristics, Activities and Features Contract Name Cubiro Contract Type Exploration and Production Contract Term Expiry September 2037 2018 Production (before/after royalties) 3,550 Bbl/d; 3,275 Bbl/d 2017 2P Net…
  33. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 33
    Cubiro: Multizone Light Oil Opportunities Development Drilling and Waterflooding Multiple Productive Zones Carbonera C-3 Carbonera C-5 Carbonera C-7 C3 C5 C7 Average 22 23 24 API 34 40 40 35
  34. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 34
    Cubiro Successful Waterflooding Pilot Project 36
  35. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 35
    Cubiro: Drilling Efficiency Improvements Improved Drilling Performance and Over 40% Costs Savings MECHANICAL STATUS CSG 9,625 500 ft Indicator 2015 2017-2018 Design Conventional Slim Rig Capacity (HP) 1,500 1,000 1,200 Drilling…
  36. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 36
    Hamaca Field (CPE-6) Large Oil In Place, Reserves, Production Upside CPE-6 9,000 8,000 7,000 6,000 5,000 4,000 Phase 4 3,000 Phase 3 2,000 Phase 2 1,000 Phase 1 0 Jan-19 Jan-20 Jan-21 Jan-22 Jan-23 1P Block…
  37. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 37
    Hamaca Field Key Characteristics, Activities and Features Contract Name CPE-6 Contract Type Exploration and Production Contract Term Expiry January 2042 2018 Production (before/after royalties) 940 Bbl/d (both) 2017 2P Net Reserves…
  38. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 38
    Hamaca Field: A Mini Quifa Field Expansion Projection from 1,000 Bbl/d to 5,000 Bbl/d Production 6.00 300 5.00 250 MBbl/d (before royalties) Mbbl/d of water 4.00 200 3.00 150 2.00 100 1.00 50 0.00 0 Jan2018…
  39. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 39
    Hamaca Field: Large Oil in Place Extensive Seismic Improves Reservoir Understanding Net Pay Map Basal Sand Unit D H D H H LEGEND Development Wells Water Disposal Well Future Development Clusters 3D Seismic HAMACA FIELD…
  40. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 40
    Hamaca Field Basal Sands are the Target Formation A A HAMACA AREA CARBONERA C7 Secondary Reservoir UNIT Main Reservoir BASAL SANDS UNIT 42
  41. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 41
    Per
  42. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 42
    Per Onshore and Offshore Blocks Provide Upside Opportunity Area of Current Disruption 44
  43. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 43
    Per Block 192 Nine Months Remaining on Service Contract Heavy Oil Medium Oil Light Oil 45
  44. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 44
    Per Block 192 Key Characteristics, Activities and Features Contract Name Lote 192 Contract Type Temporary Services Contract Term Expiry 9 months once production is restored 2018 Production (before/after royalties) 7,390 Bbl/d; 6,210 Bbl/d…
  45. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 45
    Per Z-1 Offshore Production with Exploration and Natural Gas Opportunities 47
  46. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 46
    Per Z-1 Potential Gas Development Scheme 48
  47. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 47
    Per Z-1 Key Characteristics, Activities and Features Contract Name Lote Z1 Contract Type Exploration and Production License Contract Term January 2042 2018 Production (before/after royalties) 775 (both) 2017 2P Net Reserves 4.6 MMBbl 2019…
  48. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 48
    Core Assets Deliver Stable Base Production Seven Year Production Profile from Restructuring to Growth Frontera Daily Production (before royalties Boe/d) In the Portfolio Future Opportunities 90,000 Restructuring Transition Growth…
  49. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 49
    Operations Summary Stable Production in Colombia of over 65,000 Boe/d from Core and Sustaining Asset Portfolio Effectively managing natural production decline: Colombia has a strong and sustainable platform of producing assets with…
  50. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 50
    Break
  51. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 51
    Exploration
  52. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 52
    Exploration Strategy: Colombia Provides the Core Opportunities in Three Core Basins of Colombia 54
  53. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 53
    Core Assets Deliver Stable Base Production Seven Year Production Profile from Restructuring to Growth Frontera Daily Production (before royalties Boe/d) In the Portfolio Future Opportunities 90,000 Restructuring Transition Growth…
  54. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 54
    Quifa
  55. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 55
    Quifa: Cornerstone of Heavy Oil Production Stable Production at 27,000 Bbl/d for Five Years Recent Exploration Discoveries 30,000 Quifa, Cajua, Jaspe & Sabanero 25,000 Bbl/d (before royalties) 20,000 15,000 10,000 5,000…
  56. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 56
    Quifa: Cornerstone of Heavy Oil Production Key Characteristics, Activities and Features Contract Name Quifa Contract Contract Type Exploration, Development and Exploitation Contract Term Expiry December 2031 2018 Production…
  57. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 57
    Jaspe: Recent Wells Confirm Thick Oil Column Multiple Productive Zones C7 59
  58. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 58
    Lower Magdalena Valley (VIM-1 and Guama)
  59. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 59
    Lower Magdalena Valley Basin Oil, Natural Gas and Natural Gas Liquids Exploration Opportunities 61
  60. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 60
    Lower Magdalena Basin Key Characteristics, Activities and Features Contract Name La Creciente Contract Type Exploration and Production Contract Term August 2034 Acreage 26,653 Working Interest 100% Base Royalty Rate 6.4% natural gas and…
  61. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 61
    VIM-1: Lower Magdalena Valley Basin New Farm-In Agreement with Parex 63
  62. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 62
    VIM-1, Lower Magdalena Basin Key Characteristics, Activities and Features Contract Name VIM-1 Colombia Farm-in agreement between Frontera and Parex(1) Contract Type Conventional E&P No. 16 2014 ANH bid round Contract Term Two phases as…
  63. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 63
    Guama: Exploration and Production Contract Liquids Rich Natural Gas Potential 65
  64. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 64
    Guama: Exploration and Production Contract Key Characteristics, Activities and Features Contract Name Guama Contract Contract Type Exploration and Production Contract Term April 10, 2007, Phase 1 & 2 unified up to September 2020…
  65. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 65
    Guama Schematic Play Opportunities and Exploratory Well Asa 1 Guama Block Exploration Area Exploitation Area LIGIA - 1 Asa-1 Loc Guama Field GUAMA FIELD SW NE ALLUVIUM 1 INACTIVE TUBARA SHALLOW GAS AA SHALE DIAPIR GUAMA…
  66. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 66
    Caguan
  67. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 67
    CAG-6 and CAG-5: Northern Putumayo Basin Large Acreage Position Provide Multiple Exploration Opportunities 69
  68. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 68
    CAG-6 Exploration & Production Seismic Coverage Provides Confidence in Exploration Potential N S 200 msec Pepino/ Eocene Subtle relief Subtle relief Subtle relief Villeta/ K PreK Unc PreK 4 km 70
  69. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 69
    CAG-5 Exploration & Production Geological Understanding of the Basin Identifies Future Opportunities New 2D seismic Limonero Discovery Preliminary location of Stratigraphic well Air-mandur Structure R: Villeta, 28 API 25…
  70. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 70
    CAG-6 and CAG-5: Location and Contractual Matter Key Characteristics, Activities and Features Key Features: Cag-6 Proven oil prone basin Current Phase Phase 0, previous consultation process On trend with producing oil fields Partners…
  71. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 71
    Guyana
  72. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 72
    Guyana: One of the Worlds Hottest Exloration Basins Ownership and JV Farm-in Terms Subject to consent from the government of Guyana, CGX and Frontera have formed a two thirds/one third Joint Venture to explore CGXs two offshore…
  73. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 73
    Guyana: Exciting Exploraiton Opportunities On Trend with Multiple Targets and Play Types Primary 75
  74. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 74
    Guyana Key Characteristics, Activities and Features Contract Name Petroleum Prospecting License (PPL) Contract Type Petroleum Prospecting License (PPL) First Corentyne well to be drilled by November 27, 2019 Second Corentyne well to…
  75. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 75
    Guyana Blocks Well Positioned to Trap Oil Position of CGX/Frontera Joint Oil is trapped onshore in the Oil is trapped on the slope in Guyana at the Tambaredjo field (Suriname) Venture Blocks Hammerhead and Pluma locations Oil…
  76. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 76
    Guyana Summary Blocks Well Positioned to Trap Oil Oil in onshore Suriname, oil & gas seeps in onshore Guyana, and recent discovery of oil at Hammerhead and Pluma- vertically and laterally updip of Liza- prove migration of oil through…
  77. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 77
    Ecuador
  78. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 78
    Ecuador: Existing Discoveries with Available Infrastructure Available Blocks During March 2019 Bid Round 80
  79. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 79
    Core Assets Deliver Stable Base Production Seven Year Production Profile from Restructuring to Growth Frontera Daily Production (before royalties Boe/d) In the Portfolio Future Opportunities 90,000 Restructuring Transition Growth…
  80. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 80
    Transportation
  81. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 81
    2018 OPEC+ Cuts Better Heavy Oil Differentials 83
  82. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 82
    Key Fundamentals for 2019 OPEC Committed to Oil Prices Above 60 Bbl OPEC+ suggests a commitment to the oil cuts. However, the market is in a wait and see mode. OPEC started to reduce crude oil exports in December 2018 However, several…
  83. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 83
    Commercial Outlook for 2019 Continued Diversification of Our Counterparties and Markets USWC Market: Frontera is committed to supply this market which is constrained to receive U.S. shale production due to the Joness Act Long term…
  84. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 84
    Colombian Pipeline Capacity 1.0 Million Bbl/d of Capacity for 875,000 Bbl/d of Supply Total Capacity Colombia (Bbl/d) ODL 340 OCENSA P135 135 OCENSA BASE (I- II) 616 OCENSA BASE (III) 415 OCENSA Unloading 60 Monterrey - Porvenir…
  85. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 85
    Trucking in Colombia Trucking Provides Flexibility 87
  86. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 86
    Trucking in Colombia Current Truck Operations Utilizing 32 loading and 18 unloading stations Using our control system (Pegaso) for real time monitoring Moving: 38 MBbl/d of crude oil and products 14 MBbl/d of production fluids and…
  87. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 87
    Transportation and Diluent Cost Reduced Transportation and Diluent Costs Over Time Transportation Cost (/Boe) 20.00 18.00 16.00 14.00 12.00 10.00 8.00 6.00 4.00 2.00 - 2014 2015 2016 2017 YTD2018 2019E…
  88. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 88
    NorPeruano Pipeline Inventory Over 70 Million of Value 1,700,000 100,000,000 1,600,000 1,500,000 90,000,000 1,400,000 80,000,000 1,300,000 1,200,000 70,000,000 1,100,000 1,000,000 60,000,000 900,000 Bbl 50,000,000…
  89. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 89
    Supply and Transport Achievements 2018 Attention to Detail Generates Significant Savings Savings in operational optimizations: Dilution consumption reduction through third party purchases and collaborative agreements Fuel cost…
  90. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 90
    2019 Transportation Opportunities Continued Focus Will Deliver Optimized Prices and Costs 1. To optimize logistics costs and revenues: Reduce pipeline tariffs for the regulation period 2019- 2023 Taking advantage of Frontera storage…
  91. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 91
    Puerto Baha
  92. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 92
    Puerto Baha (Frontera 39.2% Ownership) Only Deep Water Port in Cartagena 2.67 MMBbls Storage Expandable 2 9 1 4 8 3 10 5 TANK 2 - Heated Fuel Oil TANK 5 Heated TANK 8 TANK 10 Fuel Oil TANK 3 Crude Naphtha Crude…
  93. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 93
    Puerto Baha Key Characteristics, Activities and Features Only multi-purpose port in Colombia capable to take in Panamax (general cargo vessels) and Suezmax (liquid bulk vessels) Close proximity to the Cartagena Refinery, ideal for…
  94. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 94
    Finance
  95. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 95
    2019 Guidance Strong EBITDA, Lower Capex, Stable Costs 2019 Guidance Metrics(1) 2018 2019 Guidance Operating EBITDA(2) 400 - 450 MM 400 - 450 MM Capital Expenditures 440 - 460 MM 325 - 375 MM Average Daily Production 70 72 MBoe/d 65…
  96. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 96
    2019 EBITDA Sensitivities Using 2019 Budget Estimates of 65.00/Bbl Brent, 3,000:1 USDCOP, Differential of 8.40/Bbl Brent Oil (/Bbl) (5) (85) 85 +5 Production Cost (/Bbl) +1.0 (26) 26 (1.0) Transport Cost (/Bbl) +1.0 (23) 23…
  97. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 97
    2019 Guidance Strong EBITDA, Lower Capex, Lower Costs Daily Production, before royalties (Boe/d) Operating EBITDA and Capex (MM) 80,000 500 450 70,000 400 60,000 350 50,000 300 40,000 250 30,000 200 150 20,000 100 10,000…
  98. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 98
    Hedging Policy and Position Oil Hedges Using Puts and COP/USD Foreign Exchange Hedging Percentage of Monthly Production Hedged at 55/Bbl Brent COP/USD Foreign Exchange Hedging (MM) 70% 60 60% 50 50% 40 40% 30 30% 20 20% 10% 10…
  99. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 99
    Balance Sheet Strength Strong Cash Position, Low Leverage Ratios Balance Sheet Metrics September 30, 2018 Total Cash(1)/Cash and Cash Equivalents (MM) 786/587 Net Debt/EBITDA(2) 0.0x Debt to Book Capitalization(3) 22.7% Interest…
  100. 2019 Investor Day Full Presentation – Frontera Energy Corp. – slide 100
    Improved Capital Efficiency Processes Enable Better Capital Allocation and Project Selection Various evaluation and follow-up tools: Oversight Scorpion Charts Biweekly Corporate Investment Full-life economics After…

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