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September 2019 Corporate Presentation – Frontera Energy Corp.

Frontera Energy Corp. · Sep 5, 2019 · 33 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. September 2019 Corporate Presentation – Frontera Energy Corp. – slide 1
    Enhancing the Portfolio September 2019
  2. September 2019 Corporate Presentation – Frontera Energy Corp. – slide 2
    Company Overview
  3. September 2019 Corporate Presentation – Frontera Energy Corp. – slide 3
    Frontera Energy North Andean Focus GUYANA 4
  4. September 2019 Corporate Presentation – Frontera Energy Corp. – slide 4
    Frontera Energy Company Snapshot Capital Structure (U.S.) (1) Q2 2019 Production Mix Shares Outstanding (TSX: FEC; MM) 98 Natural Gas Market Cap (MM)(2) 921 3% Heavy Oil Total Cash(3) /Cash and Cash Equivalents (MM) 486 / 354…
  5. September 2019 Corporate Presentation – Frontera Energy Corp. – slide 5
    2019 Revised Guidance Strong EBITDA, Stable Capex, Lower Costs 2019 Guidance 2019 Year To Date Revised 2019 Operating EBITDA (MM) 400 to 450 326 525 to 575 Capital Expenditures (MM) 325 to 375 143 325 to 375 Average Daily…
  6. September 2019 Corporate Presentation – Frontera Energy Corp. – slide 6
    2019 EBITDA Sensitivities Using 2019 Revised Guidance Estimates of 65.00/bbl Brent, 3,100:1 USDCOP, Differential of 3.50/bbl Generates 525 - 575 MM in Annual EBITDA Production Cost (/bbl) +1.0 (26) 26 (1.0) Transport Cost (/bbl)…
  7. September 2019 Corporate 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) 80,000 600 70,000 500 60,000 400 50,000 40,000 300 30,000 200 20,000 100 10,000 - 0 2017 2018 2019E 1H…
  8. September 2019 Corporate 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. September 2019 Corporate 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. September 2019 Corporate 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. September 2019 Corporate Presentation – Frontera Energy Corp. – slide 11
    Balance Sheet Strength Strong Cash Position, Low Leverage Ratios Balance Sheet Metrics June 30, 2019 Total Cash(1)/Cash and Cash Equivalents (MM) 486 / 354 Net Debt/EBITDA(2) 0.3x Debt to Book Capitalization(3) 21.7% Interest…
  12. September 2019 Corporate 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. September 2019 Corporate Presentation – Frontera Energy Corp. – slide 13
    Core Assets
  14. September 2019 Corporate 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. September 2019 Corporate 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. September 2019 Corporate 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. September 2019 Corporate Presentation – Frontera Energy Corp. – slide 17
    Sustaining & Growth Assets
  18. September 2019 Corporate Presentation – Frontera Energy Corp. – slide 18
    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…
  19. September 2019 Corporate Presentation – Frontera Energy Corp. – slide 19
    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…
  20. September 2019 Corporate Presentation – Frontera Energy Corp. – slide 20
    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…
  21. September 2019 Corporate Presentation – Frontera Energy Corp. – slide 21
    Peru Potential for New Contract & Shallow Offshore Exploration Block 192 Production currently shut in under force majeure following community dispute relating to the NorPeruano pipeline on July 1, 2019 Production of 9,500 bbl/d…
  22. September 2019 Corporate Presentation – Frontera Energy Corp. – slide 22
    Realizing Value from Non-Core Assets Midstream and Infrastructure Worth 350 Million 1) ODL Pipeline 3) Puerto Baha 21% Net Equity Interest(1) 39% Indirect Equity Interest(2) Transports the Companys heavy crude oil from the Quifa SW…
  23. September 2019 Corporate Presentation – Frontera Energy Corp. – slide 23
    Investment Opportunity Enhancing the Portfolio Experienced, Focused asset 97% oil weighted technically- Partner of base in North with Brent price focused exposure Choice Andean Region management team in place Strong balance…
  24. September 2019 Corporate Presentation – Frontera Energy Corp. – slide 24
    Appendix
  25. September 2019 Corporate Presentation – Frontera Energy Corp. – slide 25
    Second Quarter 2019 Operational & Financial Highlights Strong Operating EBITDA and Improving Cost Structure Q2 2019 Q1 2019 % Chg. Price / Revenue / Production Brent oil prices increased 7% quarter-over-quarter to 68.47/bbl…
  26. September 2019 Corporate Presentation – Frontera Energy Corp. – slide 26
    Second Quarter 2019 Financial & Operational Net income of 228 MM (2.32/share) in Q2 2019 Highlights compared to net income of 46 MM in (0.47/share) in Q1 2019 driven by strong realized prices and lower operating and transportation…
  27. September 2019 Corporate Presentation – Frontera Energy Corp. – slide 27
    Realizing Value from Non-Core Assets Financial Information (M) FY2017 FY2018 1H2019 As at As at (M) Dividends Declared Gross December 31, June 30, ODL 34,643 55,044 26,922 Net Book Value (2) 2017 2018 2019 BIC 38,402 47,144 17,468…
  28. September 2019 Corporate Presentation – Frontera Energy Corp. – slide 28
    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…
  29. September 2019 Corporate Presentation – Frontera Energy Corp. – slide 29
    Transportation Costs P-135 Arbitration Settlement, Termination of Ship or Pay Contracts Quarterly Transportation Cost (/boe) 13.77 12.89 12.70 12.70 Transport 12.68 Cost (/Boe) Q2'18 Q3'18 Q4'18 Q1'19 Q2'19 Fees Paid on…
  30. September 2019 Corporate Presentation – Frontera Energy Corp. – slide 30
    Frontera Offers Deep Value Following Restructuring Improved Liquidity Driven by Index Inclusion and Share Buybacks Enterprise Value (US)/2019 Guidance (Boe/d)(1) Enterprise Value (US)/2P Reserves (2018/2017) (1) 50,000 18 45,000 16…
  31. September 2019 Corporate Presentation – Frontera Energy Corp. – slide 31
    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…
  32. September 2019 Corporate Presentation – Frontera Energy Corp. – slide 32
    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…
  33. September 2019 Corporate Presentation – Frontera Energy Corp. – slide 33
    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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