Business
FRONTERA ENERGY CORPORATION ANNOUNCES NEW $120 MILLION PREPAYMENT AND COMMERCIAL AGREEMENT WITH CHEVRON
Frontera Energy Corporation (TSX: FEC) (OTCQX: FECCF) ("Frontera" or the "Company") announced today that the Company's Colombian subsidiary has entered into a $120 million prepayment and commercial agreement with Chevron Products Company ("Chevron").
About this update from Chevron Corporation
[{"type":"text","content":"CALGARY, AB, Dec. 29, 2025 /CNW/ - Frontera Energy Corporation (TSX: FEC) (OTCQX: FECCF) ("Frontera" or the "Company") announced today that the Company's Colombian subsidiary has entered into a $120 million prepayment and commercial agreement with Chevron Products Company ("Chevron").","length":319,"tagName":"p"},{"type":"text","content":"Under the prepayment and commercial agreement (the "Agreement"), the Company will receive an initial advance of $80 million and commit to deliver a portion of its crude oil production for a period of two years to Chevron. The Company may request an additional $40 million advance for up to 6 months on a fully committed basis. Under the Agreement, the prepayment amounts will be subject to a financial discount calculated at the Secured Overnight Financing Rate (SOFR) plus 4.25% per annum. Repayment of the prepayment amounts will commence following a six-month grace period. Net proceeds from the Agreement will be used to manage working capital flows and enhance the Company's liquidity position. The Agreement will replace an existing prepayment agreement which expires at the end of January 2026.","length":835,"tagName":"p"},{"type":"text","content":"About Frontera:","length":15,"tagName":"p"},{"type":"text","content":"Frontera Energy Corporation is a Canadian public company involved in the exploration, development, production, transportation, storage and sale of oil and natural gas in South America, including strategic investments in both upstream and midstream facilities. The Company has a diversified portfolio of assets which consists of interests in 20 exploration and production blocks in Colombia and Guyana, and in pipeline and port facilities in Colombia. Frontera's common shares are listed for trading in the Toronto Stock Exchange under the ticker symbol "FEC." The Company is committed to conducting business safely and in a socially and environmentally responsible manner.","length":706,"tagName":"p"},{"type":"text","content":"If you would like to receive News Releases via e-mail as soon as they are published, please subscribe here: http://fronteraenergy.mediaroom.com/subscribe.","length":154,"tagName":"p"},{"type":"text","content":"Advisories:","length":11,"tagName":"p"},{"type":"text","conten...