Frontera公布2025年第三季度业绩

来源:www.gulfoilandgas.com,2025年11月13日,地点:南美洲

净利润达2540万美元,其中包括与Sabanero区块相关的1500万美元保险赔偿。
持续经营业务季度运营EBITDA为8660万美元,经
调整后的基础设施EBITDA为3040万美元,分部利润为1550万美元,主要得益于ODL业务的强劲表现。
精简的组织架构使其更加精简高效,预计未来可节省1000万至1500万美元的运营成本。
通过运营改进,生产成本降低了5%,运输成本降低了1%
。年初至今平均日产量为39,240桶油当量,将产量预期调整为39,000至39,500桶油当量/日。
宣布派发每股0.0625加元的季度股息,总计310万美元,将于2026年1月19日左右支付。
加速推进波多黎各油田项目。巴伊亚液化石油气项目最终投资决定:一期工程预计将于2026年上半年投入运营。FEC
股票获准在OTCQX®最佳市场交易,从而提升投资者可见性和交易流动性。Frontera

能源公司(“Frontera”或“公司”)公布了截至2025年9月30日的第三季度财务和运营业绩。除非另有说明,本新闻稿及公司财务披露中的所有财务金额均以美元计价。由于在剥离厄瓜多尔非核心资产后重新列示了持续经​​营业务,因此对之前报告期的数据进行了修订。更多信息,请参阅2025年11月13日发布的截至2025年9月30日止三个月和九个月的中期管理层讨论与分析(“MD&A”)中的“终止经营业务”部分。
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董事会主席加布里埃尔·德·阿尔巴评论道:

“第三季度,Frontera 继续专注于加强资本纪律,通过节约成本和提高效率来应对大宗商品价格下跌。本季度,公司持续经营业务的运营 EBITDA 为 8660 万美元,调整后基础设施 EBITDA 为 3040 万美元,经营活动产生的现金流量为 1.15 亿美元,原油套期保值期限延长至 2026 年上半年,季度末现金总额(包括受限现金)为 1.721 亿美元,凸显了公司稳健的资产负债表。

关于公司在圭亚那的勘探业务,圭亚那政府通过其法律顾问表示,愿意与 Frontera 及其合作伙伴 CGX Energy Inc(简称“CGX”,以下统称“合资企业”)举行最终的“无偏见”会议,讨论争议事项。政府提议将 2025 年 11 月 25 日或 12 月 2 日作为此次会议的可能日期。合资企业仍愿意参与讨论。”在与政府的真诚磋商中,

Frontera 继续优先考虑能够提升股东价值的各项举措。今天,董事会宣布派发每股 0.0625 加元的季度股息,总计约 310 万美元。今年迄今为止,公司已通过其正常发行人要约收购(“NCIB”)计划回购了 385,200 股股份。过去十二个月,Frontera 通过股息和股份回购向股东返还了超过 1.12 亿美元,其中包括在第三季度通过重大发行人要约收购(“SIB”)向股东支付的 6,650 万美元,自 2024 年底以来,公司已发行股份减少了 14%。此外,公司还成功回购了超过 8,000 万美元的 2028 年到期高级无抵押债券,使未偿余额降至 3.14 亿美元,这凸显了公司致力于向所有利益相关者返还资本的承诺。
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Frontera欣然宣布其股票已获准进入OTCQX®最佳市场,这一重要里程碑不仅提升了公司在美国的知名度,也进一步巩固了公司对财务信息披露和公司治理的严格承诺。在OTCQX交易有助于公司接触更广泛的美国投资者群体,包括美国零售市场,从而为股东提供更高的流动性,并使其能够在公司现有的多伦多证券交易所(TSX)报告框架下更高效地参与交易。

值得注意的是,过去五年,OTC市场交易量占FEC总交易量的30%以上,凸显了美国市场对Frontera投资者群体的重要性。进入美国OTC市场这一最高级别市场,将进一步增强Frontera触达更广泛投资者群体的能力,并提升其长期价值创造能力。该股票将于明日,即11月14日开始交易,股票代码为“FECCF”。Frontera

首席执行官Orlando Cabrales评论道:

“Frontera第三季度的财务和运营业绩凸显了我们为创造股东价值、保持运营灵活性、提高成本效益和维持稳健的资产负债表而采取的果断措施。

本季度,我们继续优先改进运营,通过实施新的油田生产技术、持续优化、降低运维合同成本以及实施数字化流程,我们的生产成本环比下降了5%。此外,通过优化运输路线和管道协议,包括我们与Ocensa签订的长期“照付不议”协议到期,我们的运输成本环比下降了1%。由于本季度我们处理的液体量增加,能源成本上升,部分抵消了上述成本下降带来的好处。”第三季度,我们通过有针对性的重组举措简化了公司架构,旨在提高组织和运营效率,预计未来可节省1000万至1500万美元的管理费用。

本季度产量下降了2%,主要原因是恶劣天气以及相关的运营和物流挑战,这些问题现已得到解决。2025年的雨季是近十年来最严重的雨季之一,降雨量远高于历史平均水平,对运营造成了影响。截至9月30日的九个月,Frontera的平均日产量为39,240桶油当量,比2024年同期增长超过3%。
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考虑到这些因素,我们将2025年哥伦比亚年度产量预期略微调整至39,000-39,500桶油当量/日。同时,我们也收紧了2025年资本支出预期,将上限降低了约2500万美元,以体现我们对资本支出的审慎态度以及持续提升运营效率的能力。

本季度结束后,Frontera在VIM-1区块启动了高影响力的Guapo-1井的钻探,目标是天然气和凝析油。预计钻井将于2025年12月完成。Guapo-1井有望显著提高公司的天然气储量,包括在短期至中期内为哥伦比亚市场提供急需的供应,并有助于降低附近潜在勘探项目的风险。

在基础设施业务方面,我们持续看到强劲的发展势头,支撑着该业务部门的各个领域。 ODL的吞吐量和EBITDA环比增长强劲,主要得益于Ecopetrol旗下Caño Sur区块产量的增加。在巴伊亚港,尽管由于一家贸易商撤出该国导致液体吞吐量下降,但港口的运营EBITDA环比基本持平。液体吞吐量下降带来的财务影响完全被我们普通货物业务的强劲表现所抵消,普通货物业务的集装箱吞吐量实现了强劲增长,10月份超过3,600个标准箱(TEU)。在SAARA,水处理量持续增长并趋于稳定,本季度平均日处理量约为15.7万桶,最高日处理量达到23万桶,并正朝着日处理量25万桶的目标稳步迈进。

公司旗下独立且不断发展的哥伦比亚基础设施业务(包括ODL和Puerto Bahía的权益)与其合作伙伴GASCO已就计划中的液化石油气(LPG)项目做出最终投资决定(FID)。该项目一期工程正在快速推进,预计将于2026年上半年投入运营,有助于缓解哥伦比亚国内LPG市场的供应紧张状况。该LPG项目一旦达到目标产能,预计每年将产生1000万至1500万美元的项目EBITDA。

第三

季度,作为Frontera持续关注成本节约的一部分,公司通过有针对性的重组举措简化了公司架构,旨在提高组织和运营效率,预计未来将节省1000万至1500万美元的管理费用。

自2025年9月29日起,运营副总裁伊万·阿雷瓦洛先生将负责油藏和储量业务。此次调整符合公司旨在增强协同效应、优化流程并确保以全面方法管理运营各个方面的愿景。阿雷瓦洛先生在石油和天然气行业拥有超过30年的经验,并在公司工作超过17年。
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2025年9月29日,安德烈斯·萨米恩托先生晋升为企业可持续发展与人力资源副总裁。萨米恩托先生拥有安第斯大学经济学硕士学位和伦敦帝国理工学院能源、矿业与金融硕士学位,是一位经济学家。加入Frontera之前,萨米恩托先生曾任哥伦比亚天然气协会秘书长、哥伦比亚投资促进署伦敦办事处高级投资顾问,并曾担任哥伦比亚矿业能源部多位部长和副部长的顾问。

公司祝贺阿雷瓦洛先生和萨米恩托先生履新。

通过此次组织架构调整,Frontera旨在提升运营效率,调整能力以应对未来挑战,并建立更灵活的组织结构,从而构建更可持续的未来。

2025年第三季度运营及财务业绩:

公司2025年第三季度持续经营业务净利润(归属于公司股东)为2820万美元(每股0.38美元),而上一季度持续经营业务净亏损(归属于公司股东)为4.109亿美元(扣除4.319亿美元非现金减值支出,即每股5.32美元),2024年第三季度持续经营业务净利润为1690万美元(每股0.19美元)。持续经营业务净利润包括1390万美元的经营亏损(扣除970万美元非现金减值支出)、1890万美元的财务费用以及490万美元的风险管理合同损失,部分被2060万美元的所得税抵免(包括2090万美元的递延所得税抵免)和1590万美元的利润分成所抵消。来自联营公司的其他收入为1200万美元,主要与Sabanero区块的保险赔偿有关,赔偿金额为1470万美元,外汇收入为210万美元。

2025年第三季度,哥伦比亚原油总产量平均为38934桶油当量/日,而上一季度为39778桶油当量/日,2024年第三季度为38840桶油当量/日。本季度重质原油产量下降2%,主要原因是恶劣天气以及相关的运营和物流挑战,这些问题现已得到解决。VIM-1区块天然气产量的商业化推动了常规天然气产量的增长,从而抵消了部分产量下降的影响。此外,哥伦比亚轻质和中质原油合计产量下降6%,主要原因是自然衰减。

2025年第三季度持续经营业务的营业EBITDA为8660万美元,高于上一季度的7350万美元和2024年第三季度的9650万美元。环比增长主要得益于本季度销量增加、布伦特原油价格上涨以及生产成本和运输成本(扣除已实现的外汇对冲影响)下降,但部分被能源成本上涨所抵消。

2025年第三季度经营活动产生的现金流量为1.15亿美元,高于上一季度的4180万美元和2024年第三季度的1.241亿美元。本季度,公司资本支出5090万美元,通过大规模发行人要约收购向股东支付了6650万美元,收到Sabanero区块的保险赔偿金1470万美元,并从ODL收到现金股息1850万美元。

截至2025年9月30日,公司现金总额为1.721亿美元,而截至2025年6月30日为1.975亿美元,截至2024年9月30日为2.403亿美元。

截至2025年9月30日,公司原油库存总量为919,914桶,而截至2025年6月30日为1,109,347桶。公司在哥伦比亚的库存总量为439,714桶,其中包括348,544桶原油和91,170桶稀释剂及其他产品。截至2025年6月30日,库存量为629,147桶;截至2024年9月30日,库存量为777,158桶。库存水平环比下降与本季度石油销售量增加有关。

2025年第三季度资本支出为5090万美元,低于上一季度的5900万美元和2024年第三季度的7490万美元。第三季度,公司主要在Quifa和CPE-6区块钻探了16口井。

公司2025年第三季度净销售实现价格为每桶油当量59.72美元,高于上一季度的每桶油当量58.98美元和2024年第三季度的每桶油当量66.27美元。环比增长主要得益于布伦特原油基准价格上涨和油价差扩大,但部分被油价风险管理合约溢价所抵消。

公司2025年第三季度持续经营业务的运营净收益为每桶油当量33.98美元,低于上一季度的每桶油当量33.53美元和2024年第三季度的每桶油当量39.54美元。公司运营净收益环比增长主要得益于净销售实现价格上涨、生产成本和运输成本下降(扣除已实现的外汇套期保值影响),但部分被能源成本上涨所抵消。

2025年第三季度,扣除已实现外汇套期保值影响后,生产成本(不含能源成本)平均为每桶油当量8.46美元,低于上一季度的8.89美元和2024年第三季度的8.89美元。生产成本下降主要归功于新的油田生产技术、持续优化、运维合同成本降低以及数字化流程的实施。

扣除已实现外汇套期保值影响后,2025年第三季度能源成本平均为每桶油当量5.56美元,低于上一季度的4.75美元,也高于2024年第三季度的5.25美元。环比增长主要由于处理量增加导致燃料消耗量上升。

2025年第三季度,扣除已实现的外汇对冲影响后,运输成本平均为每桶油当量11.72美元,低于上一季度的11.81美元和2024年第三季度的12.59美元。本季度运输成本下降主要得益于运输路线和管道协议的优化,包括终止与Ocensa P-135签订的长期照付不议协议。

本季度重组成本为830万美元,主要来自有针对性的重组举措,预计未来可节省20%的公司管理费用。

2025年第三季度,ODL原油运输量为241,958桶/日,略有增长,主要得益于Ecopetrol旗下Caño Sur区块运输量的增加,而上一季度运输量为235,804桶/日。

本季度巴伊亚港液体运输总量为39,560桶/日,低于上一季度的53,280桶/日。液体运输量的减少是由于第三方贸易商退出该国市场所致。公司正积极寻求弥补损失的运输量。液体运输量减少带来的财务影响完全被普通货物运输业务的强劲表现所抵消,该业务的集装箱吞吐量实现了强劲增长,9月份突破了3,000标准箱。

本季度经调整的基础设施EBITDA为3,040万美元,高于上一季度的2,710万美元。环比增长主要得益于ODL业务收入的增加,这主要归功于管道运输量的增加。Frontera

的可持续发展战略:

本季度,公司继续朝着其2028年可持续发展目标迈进,并已完成其2025年计划的81%。

为贯彻其供应链可持续发展战略,公司加强了其“负责任商业行为商业网络”(Business Network for Responsible Business Conduct)——一个促进人权尽职调查、共享政策和最佳实践的协作平台——以确保供应商和主要子公司(包括巴伊亚港和ProAgrollanos)采取一致且负责任的做法。

2025年第三季度,本地供应商的采购量占总采购量的11.58%,体现了公司对支持当地经济发展的持续承诺。此外,Frontera在健康和安全指标方面保持了优异表现,总可记录事故率(TRIR)为0.57。公司在运营活动中实现了36%的水资源再利用率。

此外,Frontera还获得了卓越职场研究所(Great Place to Work)颁发的“卓越级”认证。

提升股东回报

公司将继续考虑在2025年剩余时间及以后采取以投资者为中心的举措,包括根据业务整体业绩、油价和现金流情况,额外派发股息、分配利润、回购股票或债券。此外,公司也将继续考虑所有提升普通股价值的方案,并可能考虑采取各种战略举措或交易,例如进一步向股东返还资本、合并或业务重组、转让、出售或以其他方式处置公司全部或大部分业务、资产或证券、对一家或多家子公司或公司资产进行资本重组或剥离权益(无论以一次或一系列交易的形式进行)。然而,任何此类举措或交易均无法保证一定会发生,即使发生,也无法保证其具体时间。

正常发行人回购计划(NCIB):2025年7月18日,公司启动了正常发行人回购计划(“NCIB”),通过该计划,公司可回购至多3,502,962股股份进行注销,约占截至2025年7月15日已发行及流通股总数的5%。

截至2025年11月12日,公司已回购约385,200股普通股进行注销,总金额约为160万美元。该NCIB将于2026年7月17日到期。

发行人要约收购:2025年7月15日,公司宣布已收购并支付了7,583,333股普通股(约占截至2025年7月10日Frontera已发行及流通普通股总数的9.77%),每股价格为12.00加元,总收购价约为9100万加元。此次发行人要约收购的参与率为92.6%,所提交的股份按比例购买。参与此次要约收购的股东中,约有10.54%的股份被公司收购。公司近期发行人要约收购的参与率均超过90%,证明其资本分配策略行之有效,并广受股东好评。

股息:根据Frontera的股息政策,Frontera董事会宣布派发每股普通股0.0625加元的股息,将于2026年1月19日左右支付给截至2026年1月5日营业结束时登记在册的股东。根据

《加拿大所得税法》,此次股息支付被指定为“合格股息”。该股息符合公司股息再投资计划的资格,该计划允许Frontera的加拿大居民股东选择将其普通股的现金股息自动再投资于额外的普通股,而无需支付经纪佣金或服务费。Frontera

的三大核心业务:

Frontera的三大核心业务包括:(1)其哥伦比亚陆上上游业务;(2)其独立且不断增长的哥伦比亚基础设施业务;以及(3)其具有潜在变革意义的圭亚那近海勘探业务。

2025年产量指引更新:

截至2025年9月30日的九个月期间,Frontera的平均日产量为39,240桶油当量。公司已将2025年的产量指引调整为39,000至39,500桶油当量。公司同时收紧了2025年的资本支出指引,以体现其审慎的资本支出策略和持续提升运营效率的能力,并更新了EBITDA指引范围,以反映低油价环境。 哥伦比亚

上游陆上业务: Frontera第三季度在哥伦比亚的业务日产量为38,934桶油当量(包括27,078桶/日的重质原油、9,235桶/日的轻质和中质原油、4,406千立方英尺/日的常规天然气和1,848桶/日的天然气凝析液)。 本季度,公司主要在Quifa和CPE-6区块钻探了16口开发井,并在另外7个区块完成了井下作业。 目前,公司在哥伦比亚有1台钻机和1台井下作业设备正在作业。









奎法区块:奎法西南油田和卡茹阿油田

。奎法区块第三季度重质原油日均产量为17,586桶(包括奎法和卡茹阿油田),高于上一季度的17,576桶。公司投资扩建了卡茹阿油田的设施,并在奎法区块安装了新的输油管线,以支持新井的生产和SAARA管道的连接。

本季度,公司在奎法区块(包括SAARA管道)处理了约178万桶/日的水。CPE

-6

油田:CPE-6油田第三季度重质原油日均产量约为7,710桶,低于2025年第二季度的7,771桶。

本季度,公司投资扩建了原油储存能力,并实施了新的油田生产技术。

2025年第三季度,公司在CPE-6处理的水量约为每天35.7万桶。公司目前在CPE-6的处理能力约为每天38万桶水。

哥伦比亚其他进展:

瓜蒂基亚油田本季度平均日产量为5,145桶轻质和中质原油,而2025年第二季度为5,385桶。

库比罗区块本季度平均日产量为981桶轻质和中质原油,而2025年第二季度为1,057桶。VIM

-1区块(Frontera公司持股50%,非作业者)第三季度平均日产量为2,187桶油当量轻质和中质原油,而2025年第二季度为1,960桶油当量。

萨巴内罗区块第三季度平均日产量为1,781桶油当量重质原油,而2025年第二季度为2,189桶油当量。

哥伦比亚勘探资产:

公司第三季度的勘探重点仍然是……哥伦比亚的下马格达莱纳河谷和利亚诺斯盆地。

在VIM-1区块,与Guapo-1勘探井相关的活动正在进行中。土建工程已完成,该井于2025年10月16日开钻。在利亚诺斯-119区块,哥伦比亚国家油气管理局(“ANH”)已批准将勘探承诺转移至VIM-46区块,以进行三维地震勘探。此外,公司还在利亚诺斯-99和VIM-46区块开展与社会和环境研究相关的地震勘探前和钻井前活动。2

. 哥伦比亚基础设施

Frontera的哥伦比亚基础设施板块包括公司通过其全资子公司FPI持有的ODL管道35%的股权,以及公司在巴伊亚港99.97%的权益。自2024年起,哥伦比亚基础设施板块还将包括公司的反渗透水处理厂(SAARA)和棕榈油种植园(ProAgrollanos)。Frontera

及其合作伙伴GASCO宣布,双方已就其计划中的液化石油气(LPG)项目达成最终投资决定。该项目一期工程正在快速推进,预计将于2026年上半年投入运营,以应对哥伦比亚国内LPG市场面临的挑战。该LPG项目一旦达到目标产能,每年将产生1000万至1500万美元的项目EBITDA。公司将继续寻求战略投资机会,以最大限度地发挥港口基础设施的效用,并推动长期价值创造。

Reficar炼油厂连接管道的建设已完成,港口的工作重点已转向与哥伦比亚国家石油公司(Ecopetrol)合作,以尽快启用该管道,并将巴伊亚港打造成为Reficar炼油厂的战略合作伙伴。

哥伦比亚基础设施业务板块业绩:

2025年第三季度调整后基础设施EBITDA为3040万美元,高于2025年第二季度的2710万美元。ODL业务环比销量和EBITDA均实现强劲增长,主要得益于哥伦比亚国家石油公司Caño Sur区块产量的增加。

尽管由于第三方贸易商退出哥伦比亚市场导致液体吞吐量下降,巴伊亚港的运营EBITDA环比基本持平。液体吞吐量下降带来的财务影响完全被普通货物业务的强劲表现所抵消,普通货物业务的集装箱吞吐量实现了强劲增长,9月份突破了3000标准箱。

在SAARA项目方面,公司持续提升用水管理量,本季度平均日处理量达到156,767桶。公司实现了日处理量230,000桶的最大处理能力,并正朝着日处理量250,000桶的目标稳步迈进。截至

2025年9月30日止三个月,分部资本支出总计480万美元,主要来自巴伊亚港(Puerto Bahia)的390万美元投资,其中包括:(i) 460万美元用于巴伊亚港港口设施与卡塔赫纳炼油厂之间的连接项目;(ii) 储罐维护;以及(iii) 通用货物码头设施。第三季度还包括对SAARA项目和棕榈油种植园的投资。3

. 圭亚那 - 仲裁最新进展

2025年3月26日,本公司及其子公司Frontera Petroleum International Holding BV和Frontera Energy Guyana Holding Ltd.(以下简称“投资者”)向圭亚那政府(以下简称“圭亚那政府”)递交了一份意向通知书。在该通知书中,投资者指控圭亚那政府违反了英国-圭亚那双边投资条约和《圭亚那投资法》。此举启动了为期90天的磋商和谈判期,旨在友好解决争议。迄今为止,双方仍未能达成共识。

2025年11月4日,圭亚那政府通过其法律顾问表示,愿意与合资企业举行一次最终的“无损权益”会议,讨论争议事项。政府提议将2025年11月25日或12月2日作为此次会议的可能日期。合资企业仍然愿意与政府进行真诚的磋商。

合资企业继续坚定地认为,其在科伦泰恩区块的权益和许可证仍然有效且信誉良好,并且该区块的石油协议并未终止。尽管圭亚那政府重申其立场,认为合资企业的权益已于2024年6月28日到期,但合资企业对此强烈反对,并将继续致力于维护其在适用条约和协议下的合法权益。

如先前披露,鉴于圭亚那政府在磋商期间的行为以及不愿承认合资企业的权利,公司评估了科伦泰恩勘探与电气资产的可回收性。评估结果导致资产减值4.322亿美元,截至2025年6月30日,科伦泰恩勘探与电气资产的账面价值降至零(2024年12月31日:4.319亿美元)。

合资企业共同持有位于圭亚那近海的科伦泰恩区块100%的作业权益。 Frontera Guyana 和 CGX Resources 已达成协议,双方各自的参与权益分别为 72.52% 和 27.48%,其中包括 CGX Resources 同意于 2023 年转让给 Frontera Guyana 的 4.52% 权益。该转让仍需获得圭亚那政府的批准,但对 Frontera Guyana 和 CGX Resources 具有法律效力。

套期保值更新:

作为风险管理策略的一部分,Frontera 使用衍生商品工具,通过对部分石油产量进行套期保值来管理价格波动风险。公司策略旨在利用一系列有上限和无上限的工具,保护其预计扣除特许权使用费后的净产量的 40% 至 60%,以保障公司的收入和现金状况,同时最大限度地提高收益,从而使公司能够以更灵活的方式管理其套期保值组合。

2025年第三季度财务业绩电话会议详情

将于2025年11月14日(星期五)美国东部时间上午11:00举行投资者和分析师电话会议。参会人员包括董事会主席加布里埃尔·德·阿尔巴、首席执行官奥兰多·卡布拉莱斯、首席财务官雷内·布尔戈斯以及其他高级管理团队成员。

分析师和投资者可使用以下拨入号码参与会议:

RapidConnect 网址:

https://emportal.ink/4m3hn0f

北美免费电话:

1-888-510-2154

哥伦比亚免费电话:

+57-601-489-8375

国际电话:

1-437-900-0527

会议 ID:

20437

网络直播网址:

www.fronteraenergy.ca

本次电话会议的录音回放将于美国东部时间 2025 年 11 月 21 日晚上 11:59 前提供。

重播免费拨入号码:

1-888-660-6345

国际拨入号码:

1-289-819-1450

重播 ID:

20437

哥伦比亚经济/金融分析新闻 >>



挪威 >> 2025年11月14日 - HydrogenPro今日公布了其2025年第三季度的财务业绩。

主要成就和亮点:

营收达35…

挪威 >> 2025年11月14日 - 亮点:

第三季度 EBITDA 为 4390 万美元,经营现金流为 1.42 亿美元;
资产负债表稳健,可用资金达 6.24 亿美元……


比利时 >> 2025年11月13日 - 2025年第三季度亮点
?集团前九个月营业额超过30亿欧元,同比增长3%
?订单总额达75亿欧元……

百慕大 >> 2025年11月13日 - Prosafe SE公布2025年第三季度EBITDA为1130万美元(500万美元)。该公司所有五艘船舶均在该季度创造了收入……




原文链接/GulfOilandGas

Frontera Announces Q3 2025 Results

Source: www.gulfoilandgas.com 11/13/2025, Location: South America

Recorded Net Income of $25.4 million, Including $15 Million in Insurance Recoveries Related to Sabanero Block
Generated Quarterly Operating EBITDA from Continuing Operations of $86.6 Million
Generated Adjusted Infrastructure EBITDA of $30.4 million and Segment Income of $15.5 Million, Led by Strong ODL Performance
Streamlined Organization Resulting in Leaner, More Efficient Structure Generating $10-$15 Million in Expected Overhead Savings Going Forward
Reduced Production Costs 5% and Transportation Costs 1% Through Operational Improvements
Averaged 39,240 Boe/d Year-to-Date, Revised Production Guidance to 39,000 – 39,500 Boe/d
Declared Quarterly Dividend of C$0.0625 Per Share, or $3.1 Million in Aggregate, Payable On or Around January 19, 2026
Accelerated Puerto Bahia LPG FID: Phase 1 Expected To Be Operational in the First Half of 2026
FEC Equity Qualified to Trade in OTCQX® Best Market, Providing Improved Investor Visibility and Trading Liquidity

Frontera Energy Corporation ("Frontera" or the "Company") reported financial and operational results for the third quarter ended September 30, 2025. All financial amounts in this news release and in the Company's financial disclosures are in United States dollars, unless otherwise stated. Figures from previous reporting periods were revised due to the re-presentation of continuing operations following the divestment of non-core assets in Ecuador. For more information, refer to the "Discontinued Operations" section of the interim management's discussion and analysis for the three and nine months ended September 30, 2025, dated November 13, 2025 (the "MD&A").
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Gabriel de Alba, Chairman of the Board of Directors, commented:

"In the third quarter, Frontera remained focused on enforcing capital discipline, driving savings and efficiency to navigate lower commodity prices. During the quarter, the Company generated $86.6 million in Operating EBITDA from continuing operations, generated Adjusted Infrastructure EBITDA of $30.4 million and $115.0 million in cash provided by operating activities, extended its crude oil hedges through the first half of 2026 and ended the quarter with $172.1 million of total cash (including restricted cash), underscoring its strong balance sheet.

Regarding the Company's Guyana Exploration business, the Government of Guyana, through its counsel, communicated its willingness to participate in a final "Without Prejudice" meeting with Frontera and its partner CGX Energy Inc ("CGX" and together the "Joint Venture") to discuss the matters in dispute. The Government proposed November 25 or December 2, 2025, as possible dates for this meeting. The Joint Venture remains open to engaging in good faith discussions with the government.

Frontera continues to prioritize initiatives that drive stakeholder value. Today, the Board declared a quarterly dividend of C$0.0625 per share, or approximately $3.1 million in aggregate, and year to date, the Company has repurchased 385,200 shares via its Normal-Course Issuer Bid ("NCIB") program. Over the last twelve months, Frontera has returned over $112 million to shareholders via dividends and share repurchases, including $66.5 million paid to shareholders during the third quarter through a Substantial Issuer Bid ("SIB"), reducing its shares outstanding by 14% since the end of 2024, and the Company successfully repurchased over $80 million of its senior unsecured notes due 2028 reducing the balance outstanding to $314 million, underscoring the Company's commitment to return capital to all its stakeholders.
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Frontera is pleased to announce its qualification for the OTCQX® Best Market, an important milestone that increases the Company's visibility in the United States and reinforces its commitment to strong financial disclosure and corporate governance. Trading on OTCQX enhances access to a broader U.S. investor base, including the U.S. retail market, offering shareholders improved liquidity and more efficient participation under the Company's existing TSX reporting framework.

Notably, OTC market activity has represented over 30% of FEC's total share trading over the past five years, highlighting the relevance of the U.S. market to Frontera's investor community. Access to this highest tier of the U.S. OTC markets further strengthens Frontera's ability to reach a broader investor base and enhance long-term value creation. Trading will commence tomorrow, November 14th, under the symbol "FECCF"."

Orlando Cabrales, Chief Executive Officer (CEO), Frontera, commented:

"Frontera's third quarter financial and operating results highlight the decisive steps we are taking to deliver stakeholder value, maintain operational flexibility, drive cost efficiencies and maintain a strong balance sheet.

During the quarter, we continued to prioritize operational improvements, reducing our production costs quarter-over-quarter by 5%, driven by the implementation of new field production technologies, continuous optimization, cost reduction in O&M contracts and digital process implementation. We also reduced our transportation costs by 1% quarter-over-quarter driven by optimizing our transportation routes and pipeline agreements, including the expiry of our long term Ocensa P-135 Take or Pay agreement. These improvements were partially offset by increasing energy costs as we processed higher liquids volumes during the quarter. We also simplified our corporate structure during the third quarter, through targeted reorganization initiatives that will improve organizational and operational efficiencies, generating between $10 and 15 million in expected savings in overhead going forward.

Production during the quarter decreased 2%, mainly due to adverse weather conditions as well as related operational and logistical challenges, which have since been resolved. The 2025 rainy season stands among the most severe in a decade, with well above historical rainfall averages impacting operations. For the nine months ending September 30, Frontera averaged 39,240 boe/d of production, an increase of over 3% compared with the same periods of 2024.
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Considering these factors, we have adjusted our 2025 annual Colombia production guidance slightly to 39,000 - 39,500 boe/d. We have also tightened our 2025 capital expenditures guidance, reducing the higher end by around $25 million, to reflect the disciplined approach to capital spending and ability to identify ongoing operational efficiencies.

Subsequent to the quarter, Frontera spudded the high-impact Guapo-1 well at the VIM-1 block, targeting natural gas and condensate. Drilling is expected to be completed by December 2025. The Guapo-1 well has the potential to significantly improve the Company's natural gas reserves, including to potentially provide much needed supply to the Colombian market in the short to medium term and help de-risk nearby contingent prospects.

On our infrastructure business, we continue to see strong momentum supporting all areas of this business unit. ODL saw strong quarter over quarter volumes and EBITDA growth led by an increase in production associated with Ecopetrol's Caño Sur block. In Puerto Bahía, the port's operating EBITDA was relatively flat quarter over quarter despite a reduction in liquids throughput volumes associated to a trader's exit from the country. The financial impact of the reduced liquids throughput volumes was offset entirely by a strong performance from our general cargo operations, which saw strong growth in container volumes, that surpassed 3,600 twenty-foot equivalent units ("TEUs") in October. On SAARA, water management volumes continue to increase and stabilize, reaching an average of approximately 157,000 barrels of water per day processed during the quarter, including reaching a maximum throughput of 230,000 barrels per day, and gaining momentum towards our goal of 250,000 barrels per day.

The Company's standalone and growing Colombian infrastructure business, which includes interests in ODL and Puerto Bahía, together with its partner GASCO, has reached final investment decision ("FID") on the planned liquified petroleum gas ("LPG") project. The initial phase is being fast-tracked and is expected to be operational in the first half of 2026, helping address supply constraints in Colombia's domestic LPG market. The LPG project is expected to generate between $10 and 15 million in yearly project EBITDA once it reaches its target capacity."

Executive Changes and Restructuring

In the third quarter, as part of Frontera's ongoing focus on cost-savings, the company simplified its corporate structure, through targeted reorganization initiatives that are designed to improve organizational and operational efficiencies, resulting in $10-$15 million in expected savings in overhead going forward.

Effective September 29, 2025, Mr. Ivan Arevalo, Vice President Operations assumed responsibility for Reservoir and Reserves. This adjustment is aligned with the Company's vision to enhance synergies, optimize processes, and ensures a comprehensive approach to managing all aspects of our operations. Mr. Arevalo has more than 30 years of experience in the oil and gas industry and has been with the Company for more than 17 years.
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On September 29, 2025, Mr. Andrés Sarmiento was promoted to Vice-President of Corporate Sustainability & People. Mr. Sarmiento is an Economist with a Master's degree in Economics from the Universidad de los Andes and a Master's degree in Energy, Mining, and Finance from Imperial College London. Prior to joining Frontera, Mr. Sarmiento previously was secretary general of the Colombian Association of Natural Gas, was a senior investment advisor in the London Office of ProColombia and an advisor to several ministers and vice ministers in the Colombian Ministry of Mines and Energy.

The Company congratulates Mr. Arevalo and Mr. Sarmiento on their expanded roles.

With these organizational changes, Frontera aims to strengthen operational efficiency, align capabilities to address future challenges, and establish a more agile structure while building a more sustainable future.

Third Quarter 2025 Operational and Financial Results:

The Company recorded net income, attributable to equity holders of the Company, from continuing operations of $28.2 million ($0.38/share), in the third quarter of 2025, compared with a net loss, attributable to equity holders of the Company, from continuing operations of $410.9 million, net of a non-cash impairment expenses of $431.9 million ($5.32/share) in the prior quarter and net income from continuing operations of $16.9 million ($0.19/share) in the third quarter of 2024. Net income from continuing operations included a loss from operations of $13.9 million (net of a non-cash impairment expense of $9.7 million), finance expenses of $18.9 million and $4.9 million related to loss on risk management contracts, partially offset by an income tax recovery of $20.6 million (including $20.9 million of deferred income tax recovery), $15.9 million from share of income from associates, other income by $12.0 million mainly related to insurance recoveries for the Sabanero block by $14.7 million, and foreign exchange income of $2.1 million.

Total Colombian production averaged 38,934 boe/d in the third quarter of 2025, compared with 39,778 boe/d in the prior quarter and 38,840 boe/d in the third quarter of 2024. Heavy crude oil production declined by 2% during the quarter, mainly due to adverse weather conditions as well as related operational and logistical challenges, which have since been resolved. Offset by increases in conventional natural gas production driven by the commercialization of volumes from the VIM-1 block. Additionally, Colombian light and medium crude oil combined production decrease by 6%, primarily due to natural declines.

Operating EBITDA from continuing operations was $86.6 million in the third quarter of 2025, compared with $73.5 million in the prior quarter and $96.5 million in the third quarter of 2024. The quarter over quarter increase was mainly due to higher volumes sold during the quarter, higher Brent oil prices and lower production costs and transportation cost (net of realized FX hedge impact), partially offset by higher energy costs.

Cash provided by operating activities was $115.0 million in the third quarter of 2025, compared with $41.8 million in the prior quarter, and $124.1 million in the third quarter of 2024. During the quarter, the Company invested $50.9 million in capital expenditures, paid $66.5 million to shareholders through its substantial issuer bid, received $14.7 million in insurance compensation for the Sabanero block and received $18.5 million in cash dividends from ODL.

The Company reported a total cash position of $172.1 million at September 30, 2025, compared with $197.5 million at June 30, 2025, and $240.3 million at September 30, 2024.

As at September 30, 2025, the Company had a total crude oil inventory balance of 919,914 barrels compared to 1,109,347 barrels at June 30, 2025. The Company had a total inventory balance in Colombia of 439,714 barrels, including 348,544 crude oil barrels and 91,170 barrels of diluent and others. This compared to 629,147 barrels as at June 30, 2025, and 777,158 barrels as at September 30, 2024. The decrease in inventory levels quarter over quarter was associated with higher volumes of oil inventory sold during the quarter.

Capital expenditures were $50.9 million in the third quarter of 2025, compared with $59.0 million in the prior quarter and $74.9 million in the third quarter of 2024. During the third quarter the Company drilled 16 wells primarily in the Quifa and CPE-6 blocks.

The Company's net sales realized price was $59.72/boe in the third quarter of 2025, compared to $58.98/boe in the prior quarter and $66.27/boe in the third quarter of 2024. The quarter over quarter increase was primarily driven by a higher Brent benchmark oil price, stronger oil price differentials, partially offset by premiums paid on oil price risk management contracts.

The Company's operating netback from continuing operations was $33.98/boe in the third quarter of 2025, compared with $33.53/boe in the prior quarter and $39.54/boe in the third quarter of 2024. The increase in the Company's operating netback quarter-over-quarter was mainly due to higher net sales realized price, lower production costs and transportation cost, (net of realized FX hedge impacts), partially offset by higher energy costs

Production costs (excluding energy costs), net of realized FX hedge impact, averaged $8.46/boe in the third quarter of 2025, compared with $8.89/boe in the prior quarter and $8.89/boe in the third quarter of 2024. The decrease in production costs was primarily due to new field production technologies, continuous optimization, cost reduction in O&M contracts and digital process implementation.

Energy costs, net of realized FX hedging impacts, averaged $5.56/boe in the third quarter of 2025, compared to $4.75/boe in the prior quarter and up from $5.25/boe in the third quarter of 2024. The increase quarter over quarter was mainly due to higher fuel consumption resulting from higher processed production liquid volumes.

Transportation costs, net of realized FX hedging impacts averaged $11.72/boe in the third quarter of 2025, compared with $11.81/boe in the prior quarter and $12.59/boe in the third quarter of 2024. The decrease in transportation costs during the quarter was mainly driven by the optimization of the transportation routes and pipeline agreements including the termination of the Ocensa P-135 long-term Take-or-Pay agreement.

Restructuring costs during the quarter were $8.3 million, driven by targeted reorganization initiatives, resulting in expected savings of 20% in corporate overhead going forward.

ODL volumes transported were 241,958 bbl/d during the third quarter of 2025, up slightly led by an increase in volumes from Ecopetrol's Caño Sur block, compared with the previous quarter, which saw 235,804 bbl/d in volumes transported.

Total Puerto Bahia liquids volumes were 39,560 bbl/d during the quarter compared to 53,280 bbl/d the previous quarter, the reduction in liquids volumes was due to a third-party trader's exit from the country. The Company is actively seeking to replace the lost volumes. The financial impact of the reduced liquids throughput volumes was offset entirely by a strong performance from the general cargo operations, which saw strong growth in container volumes, that surpassed 3,000 TEUs in September.

Adjusted Infrastructure EBITDA in the quarter was $30.4 million, compared to $27.1 million in the prior quarter. The quarter over quarter increase was mainly a result of higher revenues from the ODL business due to higher volumes transported through the pipeline.

Frontera's Sustainability Strategy

During the quarter, the Company continued to make progress towards its 2028 sustainability goals and achieved 81% of its 2025 plan year to date.

In line with its supply chain sustainability strategy, the Company strengthened its Business Network for Responsible Business Conduct — a collaborative platform that fosters human rights due diligence, shared policies, and best practices — ensuring a consistent and responsible approach across suppliers and key subsidiaries, including Puerto Bahía and ProAgrollanos.

In the third quarter of 2025, local suppliers accounted for 11.58% of total purchases, reflecting the Company's ongoing commitment to support local economic development. Additionally, Frontera maintained strong performance in health and safety indicators, reporting a Total Recordable Incident Rate ("TRIR") of 0.57. The Company also attained a water reuse rate of 36% within its operational activities.

In addition, Frontera achieved the "Level of Excellence" certified by Great Place to Work.

Enhancing Shareholder Returns

The Company continues to consider investor-focused initiatives for the remainder of 2025 and beyond, including additional dividends, distributions, share or bond buybacks, based on the overall results of the businesses, oil prices and cash flow generation. Additionally, the Company also continues to consider all options to enhance the value of its common shares, and in so doing may consider forms of strategic initiatives or transactions, which may include a further return of capital to shareholders, a merger or a business combination, or the transfer, sale or other disposition of all or a significant portion of the business, assets or securities of the Company, the recapitalization or separation of interest in one or more subsidiaries or in assets of the Company, whether in one or a series of transactions. However, there can be no assurance that any such initiative or transaction will occur or if it occurs, the timing thereof.

NCIB: On July 18, 2025, the Company initiated a Normal Course Issuer Bid ("NCIB"), through which the Company may purchase up to 3,502,962 shares for cancellation, representing approximately 5% of the issued and outstanding shares as at July 15, 2025.

As at November 12, 2025, the Company had repurchased approximately 385,200 Common Shares for cancellation for approximately $1.6 million. The NCIB will expire on July 17, 2026.

SIB: On July 15, 2025, the Company announced that, it had taken up and paid for 7,583,333 common shares (approximately 9.77% of the total number of Frontera's issued and outstanding common shares as at July 10, 2025) at a price of CAD$12.00 per common share, representing an aggregate purchase price of approximately CAD $91.0 million pursuant to a substantial issuer bid. The July 2025 substantial issuer bid had a 92.6% participation and the tendered shares were purchased on a pro rata basis. Shareholders who tendered to the substantial issuer bid had approximately 10.54% of their tendered shares purchased by the Company. With an over 90% consistent participation rate in its recent SIBs, the Company's capital distribution strategy has proven effective and well received by shareholders.

Dividend: Pursuant to Frontera's dividend policy, Frontera's Board of Directors declared a dividend of C$0.0625 per common share to be paid on or around January 19, 2026, to shareholders of record at the close of business on January 5, 2026.

This dividend payment to shareholders is designated as an "eligible dividend" for purposes of the Income Tax Act (Canada). This dividend is eligible for the Company's Dividend Reinvestment Plan which provides Canadian resident shareholders of Frontera the option to automatically reinvest the cash dividends on their common shares into additional common shares, without paying brokerage commissions or services charges.

Frontera's Three Core Businesses

Frontera's three core businesses include: (1) its Colombia Upstream Onshore business, (2) its standalone and growing Colombian Infrastructure business, and (3) its potentially transformational Guyana Exploration business offshore Guyana.

2025 Guidance Update

Frontera's average production was 39,240 boe/d for the nine-month period ended September 30, 2025. The Company has adjusted production guidance for 2025 to 39,000 - 39,500 boe/d. The Company has also tightened its 2025 capital expenditures guidance to reflect its disciplined approach to capital spending and ability to identify ongoing operational efficiencies and updated its EBITDA guidance range to reflect the lower oil price environment.

Colombia Upstream Onshore

Colombia

Frontera produced 38,934 boe/d from its Colombian operations in the third quarter (consisting of 27,078 bbl/d of heavy crude oil, 9,235 bbl/d of light and medium crude oil, 4,406 mcf/d of conventional natural gas and 1,848 boe/d of natural gas liquids).

The Company drilled 16 development wells primarily at the Quifa and CPE-6 blocks and completed well interventions at 7 others during the quarter.

Currently, the Company has 1 drilling rig and 1 well intervention rigs active in Colombia.

Quifa Block: Quifa SW and Cajua

At Quifa, production averaged 17,586 bbl/d of heavy crude oil (including both Quifa and Cajua) in the third quarter compared to 17,576 bbl/d during the previous quarter. The Company invested in facility expansion and the installation of new flow lines in the Cajua field, in the Quifa block to support new well production and the SAARA connection.

During the quarter, the Company processed approximately 1.78 million barrels of water per day in Quifa including SAARA.

CPE-6

At CPE-6, production averaged approximately 7,710 bbl/d of heavy crude oil during the third quarter, compared to 7,771 bbl/d during the second quarter of 2025.

During the quarter, the Company invested in the expansion of crude oil storage capacity and the implementation of new field production technologies.

The Company processed approximately 357 thousand barrels of water per day in CPE-6 in the third quarter of 2025. The Company's current water handling capacity in CPE-6 is approximately 380 thousand barrels of water per day.

Other Colombia Developments

At Guatiquia, production during the quarter averaged 5,145 bbl/d of light and medium crude compared with 5,385bbl/d in the second quarter of 2025.

In the Cubiro block production averaged 981 bbl/d of light and medium crude oil during quarter compared with 1,057 bbl/d in the second quarter of 2025.

At VIM-1 (Frontera 50% W.I., non-operator), production averaged 2,187 boe/d of light and medium crude oil during the third quarter compared to 1,960 boe/d of light and medium crude oil in the second quarter of 2025.

At the Sabanero block, production averaged 1,781 boe/d of heavy oil crude production during the third quarter compared to 2,189 boe/d in the second quarter of 2025.

Colombia Exploration Assets

The Company's exploration focus during the third quarter remained on the Lower Magdalena Valley and Llanos Basins in Colombia.

At the VIM-1 block, activities related to the Guapo-1 exploration well are ongoing. Civil works have been completed, and the well was spudded in October 16, 2025. At the Llanos-119 block, the Colombian National Hydrocarbon Agency ("ANH") approved the request to transfer commitments to VIM-46 block to acquire a 3D seismic survey. In addition, the Company is engaged in pre-seismic and pre-drilling activities related to social and environmental studies in the Llanos-99 and VIM-46 blocks.

2. Infrastructure Colombia

Frontera's Infrastructure Colombia Segment includes the Company's 35% equity interest in the ODL pipeline through Frontera's wholly owned subsidiary, FPI and the Company's 99.97% interest in Puerto Bahia. Beginning in 2024, the Infrastructure Colombia Segment also includes the Company's reverse osmosis water treatment facility (SAARA) and its palm oil plantation (ProAgrollanos).

Frontera's and its partner GASCO, announced that the partners had reached a final investment decision on its planned LPG project. The initial phase of the project is being fast-tracked and expected to be operational in the first half of 2026. supporting the challenges in Colombia's domestic LPG market. The LPG project will generate between $10 and 15 million in yearly project EBITDA once it reaches its target capacity. The Company continues to pursue strategic investment opportunities to maximize the port's infrastructure and drive long-term value creation.

The Reficar connection's construction was completed, and the Port's efforts have shifted to working together with Ecopetrol to start utilizing the connection and establishing Puerto Bahia as a strategic partner for the Reficar Refinery.

Infrastructure Colombia Segment Results

Adjusted Infrastructure EBITDA in the third quarter of 2025 was $30.4 million, compared with $27.1 million during the second quarter of 2025. ODL saw strong quarter over quarter volume increase and EBITDA, led by an increase in production associated with Ecopetrol's Caño Sur block.

Puerto Bahía's operating EBITDA was relatively flat quarter over quarter despite a reduction in liquids associated to a third-part trader's exit from the country. The financial impact of the reduced liquids throughput volumes was offset entirely by a strong performance from general cargo operations, which saw strong growth in container volumes, that surpassed 3,000 TEUs in September.

On the SAARA side, the Company continued to increase water management volumes reaching an average of 156,767 barrels of water per day for the quarter. The Company achieved maximum throughput capacity of 230,000 barrels of water per day, gaining momentum towards its goal of 250,000 barrels per day.

Segment capital expenditures for the three months ended September 30, 2025, totaled $4.8 million primarily driven by Puerto Bahia investments of $3.9 million, including: (i) $4.6 million towards the connection project between Puerto Bahia's port facility and the Cartagena refinery, (ii) tank maintenance, and (iii) general cargo terminal facilities. The third quarter also includes investment in the SAARA project and palm oil plantation.

3. Guyana - Arbitration Update

On March 26, 2025, the Company and its subsidiaries, Frontera Petroleum International Holding B.V. and Frontera Energy Guyana Holding Ltd. (the "Investors"), delivered a Notice of Intent to the Government of Guyana (the "GoG"). In this Notice, the Investors alleged breaches of the United Kingdom–Guyana Bilateral Investment Treaty and the Guyana Investment Act by the GoG. This communication triggered a 90-day consultation and negotiation period intended to resolve the dispute amicably. The parties have been unable to reach a mutual resolution to date.

On November 4, 2025, the GoG, through its counsel, communicated its willingness to participate in a final "Without Prejudice" meeting with the Joint Venture to discuss the matters in dispute. The Government proposed November 25 or December 2, 2025, as possible dates for this meeting. The Joint Venture remains open to engaging in good faith discussions with the Government.

The Joint Venture continues to firmly maintain that its interests in, and the license for, the Corentyne block remain valid and in good standing and that the Petroleum Agreement for such block has not been terminated. While the Government of Guyana reaffirmed its position that the Joint Venture's interest expired on June 28, 2024, the Joint Venture strongly disagrees and remains committed to asserting its legal rights under applicable treaties and agreements.

As previously disclosed, the Company evaluated the recoverability of the Corentyne E&E asset in light of the GoG's conduct and unwillingness to recognize the Joint Venture's rights during the consultation period. This resulted in an impairment of $432.2 million, reducing the carrying value of the Corentyne E&E asset to $Nil as of June 30, 2025 (December 31, 2024: $431.9 million).

The Joint Venture jointly holds 100% working interest in the Corentyne block, located offshore Guyana. Frontera Guyana and CGX Resources have agreed that their respective participating interests are 72.52% and 27.48%, which includes a 4.52% interest that CGX Resources agreed to assign to Frontera Guyana in 2023. This assignment remains subject to the approval of the Government of Guyana but is enforceable between Frontera Guyana and CGX Resources.

Hedging Update

As part of its risk management strategy, Frontera uses derivative commodity instruments to manage exposure to price volatility by hedging a portion of its oil production. The Company's strategy aims to protect 40-60% of its estimated net after royalties' production using a combination of instruments, capped and non-capped, to protect the revenue generation and cash position of the Company, while maximizing the upside, thereby allowing the Company to take a more dynamic approach to the management of its hedging portfolio.

Third Quarter 2025 Financial Results Conference Call Details

A conference call for investors and analysts will be held on Friday, November 14th, 2025, at 11:00 a.m. Eastern Time. Participants will include Gabriel de Alba, Chairman of the Board of Directors, Orlando Cabrales, Chief Executive Officer, Rene Burgos, Chief Financial Officer, and other members of the senior management team.

Analysts and investors are invited to participate using the following dial-in numbers:

RapidConnect URL:

https://emportal.ink/4m3hn0f

Participant Number (Toll Free North America):

1-888-510-2154

Participant Number (Toll Free Colombia):

+57-601-489-8375

Participant Number (International):

1-437-900-0527

Conference ID:

20437

Webcast URL:

www.fronteraenergy.ca

A replay of the conference call will be available until 11:59 p.m. Eastern Time on November 21st, 2025.

Encore Toll free Dial-in Number:

1-888-660-6345

International Dial-in Number:

1-289-819-1450

Encore ID:

20437

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