11:58 AM EST - Frontera Energy Corporation : Announced an operational update. All values in this news release and the Company's financial disclosures are in United States dollars. Frontera delivered strong, stable estimated full year production of 70,875 boe/d in 2019. This level exceeded the high-end of 2019 production guidance of 65,000 to 70,000 boe/d and was in-line with the prior year. Production from Colombia is estimated at 63,625 boe/d, up 1.2% in 2019 as compared to 2018 while production from Peru is estimated at 7,250 bbl/d, down 11.3% in 2019 as compared to 2018, reflecting increased downtime on the Norperuano pipeline during the year. Fourth quarter 2019 total estimated production of 70,905 boe/d was 1.0% higher than the prior quarter and 1.4% lower than the prior year.Production was weighted approximately 97% to Brent exposed oil prices which averaged $62.42/bbl during the fourth quarter of 2019, 0.6% higher than the prior quarter. The Bloomberg posted Vasconia crude oil differential during the fourth quarter of 2019 averaged $3.20/bbl, up from $2.30/bbl in the third quarter of 2019. For the full year 2019, Brent oil price averaged $64.16/bbl, while the Bloomberg posted Vasconia crude oil differential averaged $2.74/bbl. Frontera Energy Corporation
shares T.FEC are trading down $0.03 at $10.05.
