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1Q 2019 Earnings Presentation – Frontera Energy Corp.

Frontera Energy Corp. · May 21, 2019 · 31 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. 1Q 2019 Earnings Presentation – Frontera Energy Corp. – slide 1
    Enhancing the Portfolio May 2019
  2. 1Q 2019 Earnings Presentation – Frontera Energy Corp. – slide 2
    Company Overview
  3. 1Q 2019 Earnings Presentation – Frontera Energy Corp. – slide 3
    Frontera Energy North Andean Focus GUYANA (1) 4 (1) By production.
  4. 1Q 2019 Earnings Presentation – Frontera Energy Corp. – slide 4
    Frontera Energy Company Snapshot Capital Structure (U.S.) (1) Q1 2019 Production Mix Shares Outstanding (TSX: FEC; MM) 98 Natural Gas 4% Heavy Oil Market Cap (MM)(2) 873 Total Cash(3) /Cash and Cash Equivalents (MM) 487 / 341…
  5. 1Q 2019 Earnings Presentation – Frontera Energy Corp. – slide 5
    2019 Guidance Strong EBITDA, Lower Capex, Stable Costs 2019 Guidance Metrics(1) 2018 Actual 2019 Guidance Q1 2019 Operating EBITDA(2) 423 MM 400 - 450 MM 145 MM Capital Expenditures 446 MM 325 - 375 MM 69 MM Average Daily…
  6. 1Q 2019 Earnings Presentation – Frontera Energy Corp. – slide 6
    2019 EBITDA Sensitivities Using 2019 Budget Estimates of 65.00/Bbl Brent, 3,000:1 USDCOP, Differential of 8.40/Bbl Generates 400 MM - 450 MM in Annual EBITDA Production Cost (/Bbl) +1.0 (26) 26 (1.0) Transport Cost (/Bbl) +1.0 (23)…
  7. 1Q 2019 Earnings Presentation – Frontera Energy Corp. – slide 7
    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…
  8. 1Q 2019 Earnings Presentation – Frontera Energy Corp. – slide 8
    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 Partner of…
  9. 1Q 2019 Earnings Presentation – Frontera Energy Corp. – slide 9
    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…
  10. 1Q 2019 Earnings Presentation – Frontera Energy Corp. – slide 10
    Our Portfolio Large Diversified Asset Base with Significant Acreage and Infrastructure CORE Quifa Guatiqua Cubiro SUSTAINING CPE-6 Z-1 (Peru) Near field exploration GROWTH Colombia existing exploration and new…
  11. 1Q 2019 Earnings Presentation – Frontera Energy Corp. – slide 11
    Balance Sheet Strength Strong Cash Position, Low Leverage Ratios Balance Sheet Metrics March 31, 2019 Total Cash(1)/Cash and Cash Equivalents (MM) 487 / 341 Net Debt/EBITDA(2) 0.4x Debt to Book Capitalization(3) 24.9% Interest…
  12. 1Q 2019 Earnings Presentation – Frontera Energy Corp. – slide 12
    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…
  13. 1Q 2019 Earnings Presentation – Frontera Energy Corp. – slide 13
    Core Assets
  14. 1Q 2019 Earnings Presentation – Frontera Energy Corp. – slide 14
    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…
  15. 1Q 2019 Earnings Presentation – Frontera Energy Corp. – slide 15
    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…
  16. 1Q 2019 Earnings Presentation – Frontera Energy Corp. – slide 16
    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…
  17. 1Q 2019 Earnings Presentation – Frontera Energy Corp. – slide 17
    Sustaining & Growth Assets
  18. 1Q 2019 Earnings Presentation – Frontera Energy Corp. – slide 18
    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, total capital estimated at less than 50 million net to…
  19. 1Q 2019 Earnings Presentation – Frontera Energy Corp. – slide 19
    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…
  20. 1Q 2019 Earnings Presentation – Frontera Energy Corp. – slide 20
    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…
  21. 1Q 2019 Earnings Presentation – Frontera Energy Corp. – slide 21
    Peru Potential for New Contract & Shallow Offshore Exploration Block 192 Production back to peak levels of over 10,000 bbl/d following the restart of the NorPeruano pipeline on March 1, 2019 Current service contract expected to…
  22. 1Q 2019 Earnings Presentation – Frontera Energy Corp. – slide 22
    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…
  23. 1Q 2019 Earnings Presentation – Frontera Energy Corp. – slide 23
    Investment Opportunity Enhancing the Portfolio Experienced, Focused asset 96% oil weighted technically- Partner of base in North with Brent price focused exposure Choice Andean Region management team in place Strong balance…
  24. 1Q 2019 Earnings Presentation – Frontera Energy Corp. – slide 24
    Appendix
  25. 1Q 2019 Earnings Presentation – Frontera Energy Corp. – slide 25
    First Quarter 2019 Operational & Financial Highlights Strong Operating EBITDA and Improving Cost Structure Q1 2019 Q4 2018 % Chg. Price / Revenue / Production Brent oil prices decreased 7% quarter-over-quarter to 63.83/bbl Production…
  26. 1Q 2019 Earnings Presentation – Frontera Energy Corp. – slide 26
    First Quarter 2019 Financial & Operational Net income of 46 million (0.47/share) in Q1 2019 compared to a net loss of 117 million (1.17/share) Highlights in Q4 2018 and a net loss of 3 million (0.03/share) in Q1 2018, driven by…
  27. 1Q 2019 Earnings Presentation – Frontera Energy Corp. – slide 27
    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 1,918 2,000 100 402 778 566 714…
  28. 1Q 2019 Earnings Presentation – Frontera Energy Corp. – slide 28
    Frontera Offers Deep Value Following Restructuring Improved Liquidity Driven by Share Buyback and Stock Split Enterprise Value / 2P Reserves (2018) (1) Enterprise Value / Production Q1 2019 (Boe/d)(1) 12 50,000 45,000 10 40,000 8…
  29. 1Q 2019 Earnings Presentation – Frontera Energy Corp. – slide 29
    Proven Management Team Proven Leadership with Global Experience Over 37 years of experience with major international oil & gas companies, including BP, Talisman Energy, and Richard Herbert Phillips Petroleum CEO Responsible for major…
  30. 1Q 2019 Earnings Presentation – Frontera Energy Corp. – slide 30
    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…
  31. 1Q 2019 Earnings Presentation – Frontera Energy Corp. – slide 31
    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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