Frontera Energy Corporation · TSX:FEC
Frontera Energy — Q3 2021 Earnings Presentation
12 slides from Frontera Energy's earnings presentation, November 2021
Slide 1: Frontera Energy Earning Slides
Frontera Energy Earning Slides November, 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: Company Snapshot
COMPANY SNAPSHOT Capital Structure (As at September 30, 2021) ($U.S.) Credit ratings (+) Long-term debt ($MM) $391 Outlook: Stable (+) Total Lease Liabilities ($MM)1,4 $8 S&P Issuer Rating: B+ (+) Risk Management Liabilities, net ($MM)2,4 $2 Senior Notes: B+ = Consolidated Total Indebtedness excl. 2
Slide 4: Third Quarter 2021 Highlights
THIRD QUARTER 2021 HIGHLIGHTS - Production of 36,422 boe/d, up 2% from Q2 2021 - Operating netback was $37.79/boe, up 15.2% from Q2 2021 - Net sales realized price of $59.47/boe, up 7% from Q2 2021 - Operating costs of $21.68/boe, down 5% from Q2 2021 - Capital expenditures were $103.2million in Q3
Slide 5: Subsequent to the Quarter
SUBSEQUENT TO THE QUARTER ● Conciliation Agreement with CENIT and Bicentenario approved, pending formalities, resolving outstanding pipeline disputes, removing largest contingent liability and opening the door for other strategic opportunities ● Interest in Maurel and Prom Colombia sold, reducing wo
Slide 6: Third Quarter 2021 by Numbers
THIRD QUARTER 2021 BY NUMBERS Production Operating Cost Netback Capital 36,442 $21.68/boe Expenditures $37.79/boe BOE/D $103MM Cash Provided by Total Cash Operating Operating Activities Position of EBITDA... $419MM $79MM $73MM including Restricted Released Cash of 1.1 million Q4 hedges do not Restri
Slide 7: Q3 2021 Quarterly Results
Q3 2021 QUARTERLY RESULTS Capital expenditures, production and transportation costs Production by Source (kboed) Production Cost ($/boe) Transportation Cost ($/boe) Capital Expenditures ($MM) 7
Slide 8: Q3 2021 Quarterly Results
Q3 2021 QUARTERLY RESULTS Sustainable Operational Performance Realized Price ($/boe) and Brent ($/bbl) EBITDA ($MM) and EBITDA Margin (%) Operating Netback ($/boe) CFFO ($MM) and CapEx/CFFO (%) Capex/ 8% 59% 30% 70% 130% CFFO 8
Slide 9: Q3 2021 Quarterly Results: Debt Ratios
Q3 2021 QUARTERLY RESULTS Debt Ratios Net debt (excluding restricted subsidiaries) ($MM) Net Debt to EBITDA Ratio (X) Debt to Book Capitalization (%) Interest Coverage (X) 9
Slide 10: Q3 2021 Quarterly Results: Cash and Cash Equivalents
Q3 2021 QUARTERLY RESULTS Cash and Cash Equivalents, in million of USD Beginning CFFO Decrease in Capital Repayment NCIB Others (1) Ending Cash Restricted Expenditures of Long-term Cash Cash and Changes Debt in Working Capital 1. Others include: Leases, Interest and other charges, return of capital
Slide 11: Hedging Program 2021
HEDGING PROGRAM 2021 Frontera Q4 hedges do not materially cap upside price potential. Three Ways Put Spread Put Total Volume Hedged, Kbbl 718 695 715 11
Slide 12: Contact us
Contact us at: ir@fronteraenergy.ca Follow us on: