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Q4 Ending Dec 31 – Frontera Energy Corp.

Frontera Energy Corp. · Mar 10, 2020 · 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. Q4 Ending Dec 31 – Frontera Energy Corp. – slide 1
    Sustainable Production with Exploration Focused Growth March 2020
  2. Q4 Ending Dec 31 – Frontera Energy Corp. – slide 2
    Company Overview
  3. Q4 Ending Dec 31 – Frontera Energy Corp. – slide 3
    Frontera Energy North Andean Focus GUYANA 4
  4. Q4 Ending Dec 31 – Frontera Energy Corp. – slide 4
    Frontera Energy Company Snapshot Q4 2019 Production Mix Capital Structure (U.S.) (1) Shares Outstanding (TSX: FEC; MM) 95.5 Natural Gas Market Cap (MM)(2) 537 3% Heavy Oil Total Cash(3) /Cash and Cash Equivalents (MM) 456 / 328…
  5. Q4 Ending Dec 31 – Frontera Energy Corp. – slide 5
    2020 Guidance Cost Reductions, Strong EBITDA, Stable Capex and Production 2019 Revised 2019 Actual 2020 Guidance Guidance Operating EBITDA(1) (MM) 586 525 to 575 400 to 450 Capital Expenditures(2) (MM) 346 325 to 375 325 to 375…
  6. Q4 Ending Dec 31 – Frontera Energy Corp. – slide 6
    EBITDA Sensitivities to 2020 Guidance (Brent 60/bbl) 2020 Operating EBITDA Guidance of 400-450 Million Production Cost (/boe) +1.0/boe (23) 23 (1.0)/boe Transportation Cost (/boe) +1.0/boe (21) 21 (1.0)/boe Oil Price…
  7. Q4 Ending Dec 31 – Frontera Energy Corp. – slide 7
    Sustained Production, Strong EBITDA, Lower Costs Stable Sustaining Capex with Exploration Growth Upside Daily Production, before royalties (Boe/d) Operating EBITDA and Capex (MM) 80,000 600 70,000 500 (1) 60,000 400 50,000…
  8. Q4 Ending Dec 31 – Frontera Energy Corp. – slide 8
    Company Strategy Sustaining Base Production for the Next Three to Five Years from Core Assets, Developing Growth Initiatives, Optimizing Cash Generation and Shareholder Returns Core Portfolio of Stable Assets with Growth Options in…
  9. Q4 Ending Dec 31 – Frontera Energy Corp. – slide 9
    Core Assets Deliver Stable Base Production, Exploration Drive Growth Five Year Production Profile from Restructuring Transition to Growth Frontera Daily Production (before royalties Boe/d) In the Portfolio Future Opportunities…
  10. Q4 Ending Dec 31 – Frontera Energy Corp. – slide 10
    Our Portfolio Large Diversified Asset Base with Significant Acreage and Infrastructure CORE Quifa Guatiqua Cubiro CPE-6 SUSTAINING Near field exploration on existing producing blocks GROWTH Colombia exploration in oil…
  11. Q4 Ending Dec 31 – Frontera Energy Corp. – slide 11
    Balance Sheet Strength Strong Cash Position, Low Leverage Ratios Balance Sheet Metrics December 31, 2019 Total Cash(1)/Cash and Cash 456 / 328 Equivalents (MM) Net Debt/EBITDA(2) 0.0x Debt to Book Capitalization(3) 22% Interest…
  12. Q4 Ending Dec 31 – Frontera Energy Corp. – slide 12
    Environmental Footprint Strategy We Work in Harmony with the Environment GOALS Excellent environmental performance Climate change leaders Conscious Employees and Green offices Contractors Efficient and innovative Positive…
  13. Q4 Ending Dec 31 – Frontera Energy Corp. – slide 13
    Corporate Responsibility and Partner of Choice Committed to Sustainable Operations Sustainability & Shared Value Model Frontera continues to implement its social investment framework in a manner that encourages local community…
  14. Q4 Ending Dec 31 – Frontera Energy Corp. – slide 14
    Core Assets
  15. Q4 Ending Dec 31 – Frontera Energy Corp. – slide 15
    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, 2019 (before/after royalties) 1P: 57.7/50.3 MMbbl 2P: 61.9/53.9…
  16. Q4 Ending Dec 31 – Frontera Energy Corp. – slide 16
    Hamaca Field (CPE-6) Large Oil In Place, Reserves, Production Upside 2019 Reserves Balance (before/after royalties) 1P: 13.3/13.3 MMbbl 2P: 33.1/33.1 MMbbl Targeting 4 Mbbl/d in 2020 with 6 Mbbl/d exit rate Key 2020 Activities:…
  17. Q4 Ending Dec 31 – Frontera Energy Corp. – slide 17
    Guatiqua: Building on Deep Llanos Success Stable Production at 15,000 bbl/d for Three Years Key Activities: One development well in 2020, with follow up wells depending on results Cocodrilo exploration upside Potential expansion of…
  18. Q4 Ending Dec 31 – Frontera Energy Corp. – slide 18
    Cubiro: Additional Light Oil Potential Waterflood to Increase Production and Recovery Efficiency Key 2020 Activities: One development well One water injector well Key Features: Potential production growth during the next two to…
  19. Q4 Ending Dec 31 – Frontera Energy Corp. – slide 19
    Sustaining & Growth Assets
  20. Q4 Ending Dec 31 – Frontera Energy Corp. – slide 20
    Lower Magdalena Valley Oil, Natural Gas and Liquids Opportunities Successful La Belleza-1 exploration well tested over 4,600 boe/d with limited drawdown. Further testing expected in 2020 Asai-1 exploration well, on the Guama block,…
  21. Q4 Ending Dec 31 – Frontera Energy Corp. – slide 21
    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…
  22. Q4 Ending Dec 31 – Frontera Energy Corp. – slide 22
    Ecuador: Intracampos Exploration Bid Round Awarded the Perico and Espejo Blocks (Frontera 50% / GeoPark 50%) One exploration well and 3D seismic program planned for 2020 Four year exploration term with two year extension Proven…
  23. Q4 Ending Dec 31 – Frontera Energy Corp. – slide 23
    Peru Potential for New Contract & Shallow Offshore Exploration Block 192 Production inconsistent resulting from periodic NorPeruano pipeline integrity issues and community disruptions During periods of operation, production…
  24. Q4 Ending Dec 31 – Frontera Energy Corp. – slide 24
    Realizing Value from Infrastructure Assets Port and Pipeline Infrastructure 1) ODL Pipeline 3) Puerto Baha 21% Indirect Equity Interest(1) 39% Indirect Equity Interest(2) Greenfield liquids import-export terminal with 2.4 MMbbl of…
  25. Q4 Ending Dec 31 – Frontera Energy Corp. – slide 25
    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…
  26. Q4 Ending Dec 31 – Frontera Energy Corp. – slide 26
    Appendix
  27. Q4 Ending Dec 31 – Frontera Energy Corp. – slide 27
    2019 Operational & Financial Highlights Strong Operating EBITDA and Improving Cost Structure 2019 2018 % Chg. Production Before Royalties (Boe/d) 70,875 71,032 (0.2%) Price / Revenue / Production Brent oil prices decreased 11%…
  28. Q4 Ending Dec 31 – Frontera Energy Corp. – slide 28
    Realizing Value from Infrastructure Assets Financial Information (M) FY2018 FY2019 (M) FY2018 FY2019 Dividends received from associates Dividends Receivable ODL 9,047 0 ODL (1) 39,617 58,403 Bicentenario 14,447 39,081 Bicentenario…
  29. Q4 Ending Dec 31 – Frontera Energy Corp. – slide 29
    2019 Reserves Evaluation Results Replaced 112% of Net 2019 Production and Strong 2P NPV10 Value 2P Net Reserves - MMBOE NPV by Category 10% (MMUSD) 175 26 -23 3,000 150 2,514 2,500 125 2,206 2,119 1,918 788 2,000 100 571 778 566…
  30. Q4 Ending Dec 31 – Frontera Energy Corp. – slide 30
    Frontera Offers Deep Value Following Restructuring Improved Liquidity Driven by Index Inclusion and Share Buybacks Enterprise Value (US)/2020 Guidance (Boe/d)(1) Enterprise Value (US)/2P Reserves (2019) (1) 35,000 9 8 30,000 7…
  31. Q4 Ending Dec 31 – Frontera Energy Corp. – slide 31
    Proven Management Team Proven Leadership with Global Experience Over 39 years of experience with major international oil & gas companies, including BP, Talisman Energy, and Richard Herbert Phillips Petroleum CEO Responsible for…
  32. Q4 Ending Dec 31 – 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. Q4 Ending Dec 31 – Frontera Energy Corp. – slide 33
    INVESTOR RELATIONS CONTACT: irfronteraenergy.ca

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