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March 2019 Corporate Presentation – Frontera Energy Corp.

Frontera Energy Corp. · Mar 18, 2019 · 28 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. March 2019 Corporate Presentation – Frontera Energy Corp. – slide 1
    Enhancing the Portfolio March 2019
  2. March 2019 Corporate Presentation – Frontera Energy Corp. – slide 2
    GUYANA 4
  3. March 2019 Corporate Presentation – Frontera Energy Corp. – slide 3
    Frontera Energy North Andean Focus Capital Structure (U.S.) Q4 2018 Production Mix Shares Outstanding (TSX: FEC; MM)(1) 98 Natural Gas Market Cap (MM)(2) 942 5% Heavy Oil Total Cash(3) /Cash and Cash Equivalents (MM) 588 / 446…
  4. March 2019 Corporate Presentation – Frontera Energy Corp. – slide 4
    2019 Guidance Strong EBITDA, Lower Capex, Stable Costs 2019 Guidance Metrics(1) 2018 Actual 2019 Guidance Operating EBITDA(2) 423 MM 400 - 450 MM Capital Expenditures 446 MM 325 - 375 MM Average Daily Production 71.0 MBoe/d 65…
  5. March 2019 Corporate Presentation – Frontera Energy Corp. – slide 5
    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…
  6. March 2019 Corporate Presentation – Frontera Energy Corp. – slide 6
    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 20,000 150 10,000 100 - 50 0…
  7. March 2019 Corporate Presentation – Frontera Energy Corp. – slide 7
    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…
  8. March 2019 Corporate Presentation – Frontera Energy Corp. – slide 8
    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…
  9. March 2019 Corporate Presentation – Frontera Energy Corp. – slide 9
    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 (Perico…
  10. March 2019 Corporate Presentation – Frontera Energy Corp. – slide 10
    Balance Sheet Strength Strong Cash Position, Low Leverage Ratios Balance Sheet Metrics December 31, 2018 Total Cash(1)/Cash and Cash Equivalents (MM) 588/446 Net Debt/EBITDA(2) (0.2)x Debt to Book Capitalization(3) 26.9% Interest…
  11. March 2019 Corporate Presentation – Frontera Energy Corp. – slide 11
    Corporate Responsibility and Partner of Choice Committed to Sustainable Operations Sustainability & Shared Value Model 2018 and 2017 United Nations Global Compact awards recipient Nominated by World Finance as The Most…
  12. March 2019 Corporate Presentation – Frontera Energy Corp. – slide 12
    Core Assets
  13. March 2019 Corporate Presentation – Frontera Energy Corp. – slide 13
    Quifa: Cornerstone of Heavy Oil Production Stable Production at 27,000 Bbl/d for Five Years Recent Exploration Discoveries Reserves Balances: As of December 31, 2018 (before/after royalties) 1P: 45.0/38.6 MMBbl 2P: 56.8/48.4…
  14. March 2019 Corporate Presentation – Frontera Energy Corp. – slide 14
    Guatiqua: Building on Deep Llanos Success Stable Production at 15,000 Bbl/d for Three Years Key Activities: Two development wells in 2019 Cocodrilo exploration in 2020 Potential expansion of Yatay field Key Characteristics: High…
  15. March 2019 Corporate Presentation – Frontera Energy Corp. – slide 15
    Cubiro: Additional Light Oil Potential Waterflood to Increase Recovery Efficiency and 3X Production Potential Key 2019 Activities: Six development wells Two water injector wells Start water injection throughout the whole field Key…
  16. March 2019 Corporate Presentation – Frontera Energy Corp. – slide 16
    Sustaining & Growth Assets
  17. March 2019 Corporate Presentation – Frontera Energy Corp. – slide 17
    Guyana Exciting Exploration Opportunities Over 1.8 million gross acres in the hottest offshore exploration basin in the world Two well commitment plus a two well option Multiple play types with vertical and lateral migration…
  18. March 2019 Corporate Presentation – Frontera Energy Corp. – slide 18
    Ecuador: Intracampos Exploration Bid Round Awarded the Perico and Espejo Blocks (Frontera 50% / GeoPark 50%) Four year exploration term with two year extension Proven hydrocarbon basin near existing production and infrastructure…
  19. March 2019 Corporate Presentation – Frontera Energy Corp. – slide 19
    Hamaca Field (CPE-6) Large Oil In Place, Reserves, Production Upside 2018 Reserves Balance (before/after royalties) 1P: 21.6/21.6 MMBbl 2P: 27.4/27.4 MMBbl 190 wells for a 5 MBbl/d and 250 MBbl/d of water plateau Key 2019…
  20. March 2019 Corporate Presentation – Frontera Energy Corp. – slide 20
    Peru Potential for New Contract & Shallow Offshore Exploration Block 192 Production gradually ramping up following the restart of the NorPeruano pipeline on March 1, 2019 Notified by Petroper on November 30, 2018 of a force majeure…
  21. March 2019 Corporate Presentation – Frontera Energy Corp. – slide 21
    Realizing Value from Non-Core Assets Midstream and Infrastructure Assets Hold Significant Value 1) ODL Pipeline 2) Puerto Baha 35.0% Indirect Interest(3) 39.2% Indirect Interest(1) Ships the Companys heavy crude oil from Quifa SW…
  22. March 2019 Corporate Presentation – Frontera Energy Corp. – slide 22
    Investment Opportunity Enhancing the Portfolio Experienced, Focused asset 93% oil weighted technically- Partner of base in North with Brent price focused exposure Choice Andean Region management team in place Strong balance…
  23. March 2019 Corporate Presentation – Frontera Energy Corp. – slide 23
    Fourth Quarter 2018 Operational & Financial Highlights Strong Operating EBITDA and Improving Cost Structure Q4 2018 Q3 2018 % Chg. Price / Revenue / Production Production Before Royalties (Boe/d) 71,924 66,393 8% Brent oil prices…
  24. March 2019 Corporate Presentation – Frontera Energy Corp. – slide 24
    2018 Reserves Evaluation Results Replaced 103% of 2018 Production and Strong 2P NPV10 Value 2P Net Reserves - MMBOE NPV by Category 10% (MMUSD) 175 25 -24 3,000 150 2,523 2,500 125 2,206 1,932 587 2,000 1,918 100 402 778 566 714…
  25. March 2019 Corporate Presentation – Frontera Energy Corp. – slide 25
    Transportation Costs P-135 Arbitration Settlement, Termination of Ship or Pay Contracts Quarterly Transportation Cost (/boe) 14.28 13.77 12.68 12.89 Transport 11.81 Cost (/Boe) Q4'17 Q1'18 Q2'18 Q3'18 Q4'18 Fees Paid on…
  26. March 2019 Corporate Presentation – Frontera Energy Corp. – slide 26
    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…
  27. March 2019 Corporate Presentation – Frontera Energy Corp. – slide 27
    Proven Management Team Proven Leadership with Global Experience Over 36 years of experience with major international oil & gas companies, including BP, Talisman Energy, and Richard Herbert Phillips Petroleum CEO Responsible for major…
  28. March 2019 Corporate Presentation – Frontera Energy Corp. – slide 28
    Independent Board of Directors Engaged and Active in Unlocking Shareholder Value Gabriel de Alba Managing Director and Partner of The Catalyst Capital Group Inc. Chairman International experience restructuring public and private…

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