Frontera Energy Corporation · TSX:FEC
Frontera Energy — Q2 2021 Earnings Presentation
12 slides from Frontera Energy's earnings presentation, Aug 11, 2021
Slide 1: Frontera Energy Earning Slides
Frontera Energy Earning Slides August 11, 2021
Slide 2: Advisories
ADVISORIES This presentation contains forward-looking statements or “forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable securities legislation, which involve known and unknown risks, uncertainties, and other factors that may because the actual r
Slide 3: Advisories
ADVISORIES This presentation contains future oriented financial information and financial outlook information (collectively, “FOFI”) within the meaning of applicable securities laws, (including, without limitation, statements regarding expected average production, production costs, transportation cost
Slide 4: Company Snapshot
COMPANY SNAPSHOT Capital Structure (As at June 30, 2021) ($U.S.) Credit ratings 2023 senior note balance ($MM)1 $63 Outlook: Stable Long-term debt ($MM) $391 S&P Issuer Rating: B+ (+) Total Lease Liabilities ($MM) 25 $11 (+)Risk Management Liabilities, net ($MM)35 $3 Senior Notes: B+ = Consolidated
Slide 5: Second Quarter 2021 Highlights
SECOND QUARTER 2021 HIGHLIGHTS - Cash provided by operating activities was $87.4 million, up 84% from Q1 - Operating EBITDA was $84.8million, up 23% from Q1 - Operating netback was $32.83/BOE, up 12.7% from Q1 - Through its majority-owned subsidiary and joint venture, prepared to spud the Kawa-1 wel
Slide 6: Second Quarter 2021 By Numbers
SECOND QUARTER 2021 BY NUMBERS Production Operating Cost Netback Capital 35,682 $22.92/boe Expenditures $32.83/boe BOE/D $61MM Cash Provided by Total Cash Operating Operating Activities Position of EBITDA... $487MM $87MM $85MM including Restricted Released Cash of Restricted $400MM 60% of production
Slide 7: Q2 2021 Quarterly Results
Q2 2021 QUARTERLY RESULTS Capital expenditures, production and transportation costs Production by Source (kboed) Production Cost ($/boe) Transport Cost ($/boe) Capital Expenditures ($MM) 7
Slide 8: Q2 2021 Quarterly Results: Sustainable Operational Performance
Q2 2021 QUARTERLY RESULTS Sustainable Operational Performance Realized Price ($/boe) and Brent ($/bbl) EBITDA($MM) and EBITDA Margin (%) Operating Netback ($/boe) CFFO ($MM) and CapEx/CFFO (%) Capex/ 15% 8% 59% 30% 71% CFFO 8
Slide 9: Q2 2021 Quarterly Results: Debt Ratios
Q2 2021 QUARTERLY RESULTS Debt Ratios Net debt (excluding Unrestricted Subsidiaries) ($MM) Net Debt to EBITDA Ratio (X) Debt to Book Capitalization (%) Interest Coverage (X) 9
Slide 10: Q2 2021 Quarterly Results: Cash and Cash Equivalents
Q2 2021 QUARTERLY RESULTS Cash and Cash Equivalents Ending Cash 1. Net Debt proceedings include: Repayment of long-term debt at a premium, gross proceeds from long-term debt issuance prior to transaction cost, transaction cost of new unsecured notes. 63MM upstanding of 2023 notes, payment to be refle
Slide 11: Hedging Program 2021
HEDGING PROGRAM 2021 Frontera has hedged ~60% of its production for the remainder of 2021. Three Ways Put Spread Put Total Volume Hedged 730 728 695 718 695 715 11
Slide 12: Frontera Energy
K FRONTERA ENERGY