Frontera Energy Corporation · TSX:FEC
Frontera Energy — Investor Presentation (May 2025)
29 slides from Frontera Energy's investor presentation, May 2025
Slide 1: Corporate Presentation May 2025
Corporate Presentation May, 2025
Slide 2: Three Core Business
THREE CORE BUSINESS Maximizing and realizing value through its strategic portfolio of Energy and infrastructure assets Colombia & Ecuador Upstream Assets Guyana Exploration Infrastructure Assets Assets Independent E&P player with a diversified Multi-Purpose Maritime terminal in the 93.42% Indirect W
Slide 3: Frontera Corporate Snapshot
FRONTERA CORPORATE SNAPSHOT Equity Market Summary (March 31, 2025) Credit ratings Shares Price (CAD$)(1) $6.72 Outlook: Negative S&P Shares Outstanding 77.29 million Issuer Rating: B+ Market Capitalization(2) $361 million Senior Notes: B+ Consolidated Net Debt(3) $335 million Outlook: Stable Fitch E
Slide 4: Focusing on Sustainable Cash Generation
FOCUSING ON SUSTAINABLE CASH GENERATION Attractive low-cost asset base with robust cash flow generation Operating Netback per boe(1) (US$/boe) & Cash SBR Production (kboed) & Field Cycle Costs (US$/boe) Provided by Operating Activities ($MM) Production SBR (kboed) Transport Cost ($/boe) (1) (1) Netb
Slide 5: Track Record of Shareholders Returns
TRACK RECORD OF SHAREHOLDERS RETURNS Frontera has returned >390 million in capital in the last 7 years always maintaining a strong credit profile Total Shareholder Returns (Million of USD) Total Shares Outstanding (Million of shares) 37 394 98.4 7 97.5 96.4 53 30 94.7 16 8 91 29 159 6 40 85.6 85.2 5
Slide 6: 2025 Guidance Highlights - EBITDA
2025 GUIDANCE HIGHLIGHTS - EBITDA 2025 Full Year Guidance Guidance Metrics Unit Frontera Consolidated 2025 Additional Sensitivities Average Daily Production (1) boe/d 41,000 - 43,000 Brent Crude Oil Price $/bbl $65 $75 $85 Production Cost (excl. energy costs) (2)(4) $/boe $8.75 - $9.25 Consolidated
Slide 7: 2025 Guidance Highlights - CAPEX
2025 GUIDANCE HIGHLIGHTS - CAPEX Colombia & Ecuador Development: 2025 Full Year Drill up to 62 wells (60 producer wells and 2 injector wells) in Guidance Metrics Unit Guidance Frontera 2025 Consolidated • Quifa SW: 26 wells (25 producer wells and 1 injector well) Development Drilling $MM $100 - $110
Slide 8: 2025 Guidance Highlights – Free Cash Flow
2025 GUIDANCE HIGHLIGHTS – FREE CASH FLOW Colombia and Ecuador Upstream Business 2025 Free Cash Flow ($MM) 400 - 430 350 - 380 (10) – (15) (15) – (20) (45) – (55) (45) – (55) (200) – (245) (200) – (245) 110 - 140 65 – 95 Upstream Cash Taxes Debt Service Upstream Capex 2025 Upstream Upstream Cash Tax
Slide 9: Colombia & Ecuador Upstream Assets
COLOMBIA & ECUADOR UPSTREAM ASSETS Colombia VIM-1 (Gas & Light Oil) • 6 Exploration Blocks ▪ 50% working interest • 12 Production Blocks ▪ Partner & operator: • 1 E&P Blocks ▪ 2024FY Production: 1,814 boed Ecuador Guatiquia (Medium Oil) • 2 Exploration Blocks ▪ 100% working interest ▪ Contract term:
Slide 10: 2024 Reserves: Reserve Highlights
2024 RESERVES Reserve Highlights 1P Reserves 2P Reserves 3P Reserves 100.6 Mmboe 151.3 Mmboe 184.6 Mmboe 6.8 Years RLI 10.3 Years RLI 12.5 Years RLI $2,261MM NPV10 AT $3,390MM NPV10 AT $4,108MM NPV10 AT 2024 Year-End Net Present Value (NPV10) after Taxes ($MM) NPV10 per share (1) $73.1 $60.3 $40.2 4
Slide 11: Quifa
QUIFA Sustainable Long-term Asset Base Key Metrics Asset Overview 60% W.I. • Three commercially developed fields, Quifa SW (256 producing wells), Cajua (33 producing wells) and Jaspe (non-producing). 70% Costs Partner: ECP • Discovered in 2008 with the drilling of the QF-005 well • Related to the st
Slide 12: CPE-6
CPE-6 Proved track record of accelerated and solid growth Key Metrics Asset Overview 100% W.I. • Discovered in 2011 Operator • Related to the stratigraphic column for the Hamaca field in the Llanos Basin, the oil-bearing Upper Eocene- and Jan. 2042 Oligocene-age Arenas Basales (AB) and the overlying
Slide 13: VIM-1
VIM-1 Growing condensate field with enhanced oil recovery through gas reinjection Key Metrics Asset Overview • Discovered in 2019 with La Belleza 1 well • La Belleza 2 well was drilled as a horizontal well and 50% W.I. encountered 2,000 feet of porous limestone in the CDO Partner: Parex formation an
Slide 14: Unique Commercialization & Marketing Model
UNIQUE COMMERCIALIZATION & MARKETING MODEL Significant competitive advantage compared to other producers selling at the wellhead • Integrated transportation and trading team • Focused on optimizing price and costs associated • Direct sales mainly of Vasconia Blend for international markets, with som
Slide 15: Frontera's Colombia Infrastructure Business
FRONTERA’S COLOMBIA INFRASTRUCTURE BUSINESS ~56 Kbpd ~244 Kbpd Daily Liquids Volumes Total Daily Transported Volumes (FY 2024) (FY 2024) ~74 Kunits ~30 % Wheeled Cargo Volumes Of Total Colombia (FY 2024) Production Transported (FY 2024) ~69 kTons/m3 >100 % Break Bulk Volumes Payout ratio(1) (FY 2024
Slide 16: Sociedad Portuaria Puerto Bahia
SOCIEDAD PORTUARIA PUERTO BAHIA Strategically Located Port Focused on Import and Export of Hydrocarbons State-of-the-art Maritime terminal located in the Cartagena Bay, with over 120 Ha of freehold land, about 2.7mm boe nominal storage capacity in liquids and the largest roll- on/roll-of cargo opera
Slide 17: Puerto Bahia Near-Term Catalysts
PUERTO BAHIA NEAR-TERM CATALYSTS Reficar Connection LPG Project Puerto Bahia and GASCO Puerto Bahia entered into an entered into an agreement to TMR1 Cartagena Refinery agreement to connect with jointly pursue an LPG project TNP2 the Cartagena Refinery via a at the Puerto Bahia port. 6.8-kilometre,
Slide 18: Oleoducto de los Llanos ODL
OLEODUCTO DE LOS LLANOS “ODL” Proven Cash Generator and Strong Market and Operating Position Offers an Starting its operations in 2009, ODL is a integrated service strategic 260km-long pipeline jointly owned by proposal Frontera (35%) and Ecopetrol (65%) connecting the Casanare and Meta districts in
Slide 19: Infrastructure: Key Performance Indicators
INFRASTRUCTURE: KEY PERFORMANCE INDICATORS ODL - Volume pumped, oil per Puerto Bahia – volumes throughput Adjusted Infrastructure injection point (kbbl/d) at port liquid facility (kbbl/d) EBITDA ($MM)(1)(4) 62 61 115 117 244 244 56 107 213 13 13 74 74 14 73 49 48 43 140 170 170 2022 2023 2024 2022 2
Slide 20: SAARA & Proagrollanos Operation
SAARA & PROAGROLLANOS OPERATION A 100Mbwpd increase in disposal capacity, translates to over 1,000 barrels net to Frontera Boiler Oil Field Crude Oil Extraction Oil SAARA Treated Water Water PROAGROLLANOS Reinjection Oil Water Rejected Water Drilling Fluids Water provided by SAARA Treated Water PROA
Slide 21: Corentyne Block Overview
CORENTYNE BLOCK OVERVIEW Recent Block Activity Highlights • Frontera Energy (72.52%) and CGX Energy (27.48%), 245,375 acres In one of the most exciting together the “JV Partners”, jointly hold 100% working petroleum basins in the interest in the Corentyne Block, located in the highly prolific world
Slide 22: Disciplined Hedging Strategy
DISCIPLINED HEDGING STRATEGY The Company’s strategy seeks to hedge 40% - 60% of estimated net after royalties production protecting revenue generation without risking oil price upside optionality. Oil Hedges Puts ($/bbl) Disciplined hedge program to help mitigate volatility in revenue due to changes
Slide 23: Frontera's Management Team
FRONTERA’S MANAGEMENT TEAM Years at Frontera Years of experience Frontera Energy is committed to the highest standards of corporate governance Orlando Cabrales 3+ Ivan Arevalo 17+ Segovia VP Operations 30+ 30+ CEO • Leader in the Colombian energy sector and CEO of Frontera • Over 30 years of experie
Slide 24: Advisories
ADVISORIES Cautionary Note Concerning Forward-Looking Statements This presentation contains forward-looking statements. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the
Slide 25: Advisories
ADVISORIES The Company discloses these financial measures, together with measures prepared in accordance with IFRS, because management believes they provide useful information to investors and shareholders, as management uses them to evaluate the operating performance of the Company. These financial
Slide 26: Advisories
ADVISORIES There are numerous uncertainties inherent in estimating quantities of crude oil and natural gas reserves and resources and the future cash flows attributed to such reserves and resources. The reserves and resources and associated cash flow information set forth herein are estimates only.
Slide 27: Advisories
ADVISORIES The resource estimates presented herein are subject to certain risks and uncertainties, including those associated with the drilling and completion of future wells, limited available geological and geophysical data and uncertainties regarding the actual production characteristics of the r
Slide 28: Advisories
ADVISORIES ● "Reserves Life Index" (RLI) is calculated as the net reserves in the referenced category divided by the net production of the last year. It is a measure of how long the booked reserves will last if the production rate is maintained and no additional reserves are added. ● "Reserves Repla
Slide 29: Frontera
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