Frontera Energy Corporation · TSX:FEC

Frontera Energy — Q3 2022 Earnings Presentation

10 slides from Frontera Energy's earnings presentation, November 2022

  1. Slide 1: Frontera Energy Q3’22 Earning Slides

    Frontera Energy Q3’22 Earning Slides November 2022

  2. Slide 2: Corporate Snapshot

    Capital Structure (As at September 30, 2022) ($U.S.) ($MM) (+) Long-term debt(1) $406 (+) Total Lease Liabilities (2) $4 (+) Risk Management Liabilities, net (3) $3 = Consolidated Total Indebtedness excluding Unrestricted Subsidiaries(4) $413 (-) Cash & Cash Equivalents(5) $207 = Net Debt excl. Puer

  3. Slide 3: Q3’22 Highlights

    Q3’22 HIGHLIGHTS - Generated operating EBITDA(1) of $173.2 million - Delivered average daily production of 41,033 boe/d(2) - Reduced production costs by 9.5%, transportation costs by 1.3% and G&A by 16.9% - Delivered an operating netback(3) of $59.78/boe - Cash provided by operating activities was $

  4. Slide 4: Third Quarter 2022 by Numbers

    THIRD QUARTER 2022 BY NUMBERS Production(1) Operating cost(2) Netback (3) Capital 41,033 $22.15/boe expenditures (4) BOE/D $59.78/boe $76MM Total cash Uncollateralized Operating position of credit lines of EBITDA(4)... $113MM $173MM $309MM including Net sales Achieved 98% of the $56MM in realized Re

  5. Slide 5: Q3 2022 Quarterly Results: Capex, production and transportation costs

    Q3 2022 QUARTERLY RESULTS Capital expenditures, production and transportation costs PRODUCTION BY SOURCE (KBOE) PRODUCTION COST ($/BOE) (1) TRANSPORTATION COST ($/BOE) (1) CAPITAL EXPENDITURES ($MM) (2) 1. Supplementary financial measure (as defined in NI 52-112). Refer to the “Non-IFRS and Other Fina

  6. Slide 6: Q3 2022 Quarterly Results: Sustainable Operational Performance

    Q3 2022 QUARTERLY RESULTS Sustainable Operational Performance OPERATING EBITDA(2) ($MM) AND REALIZED PRICE(1) ($BOE) AND BRENT ($BBL) OPERATING EBITDA MARGIN(2) (%) OPERATING NETBACK ($/BOE) (1) CFFO ($MM) AND CAPEX(1)/ CFFO (%) Capex/ 130% 119% 99% 38% 63% CFFO 1. Non-IFRS ratio (equivalent to a “n

  7. Slide 7: Q3 2022 Quarterly Results: Debt Ratios

    Q3 2022 QUARTERLY RESULTS Debt Ratios NET DEBT (EXCL. RESTRICTED SUBSIDIARIES) ($MM) NET DEBT TO OPERATING EBITDA RATIO (X) DEBT TO BOOK CAPITALIZATION(1) (%) INTEREST COVERAGE(2) (X) 1. Debt to book capitalization is long term debt divided by long term debt plus equity attributable to equity holder

  8. Slide 8: TSX: FEC.TO

    TSX: FEC.TO Colombia Calle 110 N° 9 – 25 Piso 16 Bogotá, Colombia PBX: +57 1 511 2000 PBX: +57 1 745 1001 Calgary 2000, 222 – 3 Avenue SW Calgary, AB Canada T2P 0B4 PBX: +1 403 705 8814 www.fronteraenergy.ca Follow us on: Frontera Energy Corp. @FronteraEnergy @FronteraEnergy

  9. Slide 9: Advisories

    ADVISORIES Forward-Looking Information - This presentation contains forward-looking information within the meaning of Canadian securities laws. Forward-looking information relates to activities, events or developments that Frontera Energy Corporation (“Frontera” or the “Company”) believes, expects o

  10. Slide 10: Advisories

    ADVISORIES Non-IFRS and Other Measures - This presentation contains financial terms that do not have standardized definitions in International Financial Reporting Standards ("IFRS"), including Operating EBITDA, Capital Expenditures, Operating Netback, Net Sales Realized Price, Transport Cost per Boe,

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