CA - Frontera Energy reports Q3 earnings; on track to deliver its FY22 production guidance

• Frontera Energy press release ( OTCPK:FECCF ): Q3 GAAP EPS of -$0.30.
• Revenue of $276.35B (+89.3% Y/Y).
• Operating EBITDA was $173.2M in the third quarter of 2022 compared with $190.7M in the prior quarter and $77.3M in the third quarter of 2021.
• The company's net sales realized price was $81.93/boe in the third quarter of 2022, compared to $91.50/boe in the prior quarter and $59.47/boe in the third quarter of 2021.
• Production averaged 41,033 boe/d, compared to 41,586 boe/d in the prior quarter and 36,422 boe/d in the third quarter of 2021.
• The company remains on track to deliver its tightened 2022 production guidance of 41,000-43,000 boe/d.
• "In the fourth quarter, we expect to continue generating strong free cash flow from our oil-weighted production and efficient operations, advance our significant development and high-impact exploration growth prospects in Colombia, Ecuador and Guyana while maintaining a strong balance sheet, healthy leverage levels and returning value to shareholders through our NCIB."
• Outlook upgraded by S&P Global ratings from 'stable' to 'positive',B+ issuer credit and issue-level ratings affirmed.

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