CALGARY, AB (By Frontera, 15.May.2026, Words: 463) — Frontera Energy Corporation recorded 1Q:26 net income from continuing operations of $13.1mn and adjusted EBITDA of $28.5mn.
The company also said shareholders approved arrangement with Parex Resources to divest Frontera’s E&P assets for $750mn in enterprise value, resulting in up to a $470mn return of capital to shareholders.
Frontera chairman of the board of directors Gabriel de Alba, commented on 15 May 2026 in the company’s quarterly financial statements:
“During the first quarter, Frontera delivered solid infrastructure results while taking decisive steps to advance the Company’s strategic repositioning. Frontera remains firmly committed to disciplined execution, prudent oversight of capital, emphasizing operational excellence, and maintaining a strong balance sheet.
Frontera achieved an important milestone with shareholder approval of the plan of arrangement and return of capital, related to the sale of its Colombian E&P asset to Parex Resources. Subject to closing, the company expects to return up to $470 million to shareholders, representing a substantial return of capital.
The company is retaining approximately $50 million of cash to support the growth opportunities of its high-quality infrastructure business, including the LNG regasification project with Ecopetrol. The standalone and refocused Frontera infrastructure business, anchored by its ownership in ODL and Puerto Bahia, generates stable long-term cash flows and provides multiple near-term growth catalysts that support long-term shareholder value creation.
In total, this strategy will have unlocked approximately $1.3 billion of capital for investors.”
Frontera CEO Orlando Cabrales, commented:
“In the first quarter of 2026, Frontera delivered solid infrastructure performance, supported by contributions from Puerto Bahía and our equity interest in ODL, which generated an Adjusted EBITDA for the quarter of $28.5 million. Additionally, Frontera expects to receive, proportional to the Company’s 35% equity interest in ODL, approximately $65 million in dividends in 2026.
At Puerto Bahía, we continue to advance our key growth initiatives, supporting the long-term development of Frontera’s infrastructure platform. During the first quarter, our container business delivered solid operational performance, handling 3,851 TEUs. We also achieved meaningful progress across our energy infrastructure projects, including reaching a key milestone in the LPG project with the successful commencement of initial operations in March 2026, which gives us the capacity to handle up to 10,000 tons per month. We continue making solid progress with the firm goal of becoming fully operational during the first quarter of 2028.
In parallel, we continue to advance the LNG regasification project in partnership with Ecopetrol and support the long-term reliability of Colombia’s energy supply. Looking ahead, we expect these initiatives to contribute to the continued growth and diversification, enhancing cash flow resilience over time.
In our E&P business, we remain focused on maintaining safe and stable operations while advancing toward the expected closing of the Parex transaction, which is anticipated to be completed in May 2026.”
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