FECCF - Frontera Energy reports Q2 earnings; updates FY 2022 capital and production guidance

• Frontera Energy press release ( OTCPK:FECCF ): Q2 GAAP EPS of $0.14.
• Revenue of $277.04B (+60.1% Y/Y).
• Production averaged 41,586 boe/d, up 1% compared to 41,100 boe/d in the prior quarter and 35,682 boe/d in the second quarter of 2021.
• Operating EBITDA was $190.7M in the second quarter of 2022 compared with $133.0M in the prior quarter and $83.1M in the second quarter of 2021.
• Updated 2022 Capital and Production Guidance : Frontera is tightening its 2022 production guidance to 41,000-43,000 boe/d and increasing its operating EBITDA guidance to $675-$700 million as a result of an increase in assumed Brent prices at $100/bbl.
• The company reiterates its cost guidance including production costs of $11.00-$12.00/boe and transportation costs of $10.00-$11.00/boe.
• The company anticipates increased total capital expenditures for the year of $435-$495 million.

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