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BRIEF-Frontera Qtrly Basic Net Income Of $0.45/Share

Published 2018-11-07, 10:08 p/m
Updated 2018-11-07, 10:10 p/m
© Reuters.  BRIEF-Frontera Qtrly Basic Net Income Of $0.45/Share

Nov 7 (Reuters) - Frontera Energy Corp FEC.TO :

* FRONTERA ANNOUNCES THIRD QUARTER 2018 RESULTS

* SAYS NET PRODUCTION AVERAGED 58,558 BOE/D DURING Q3, DOWN 18% AND 9% FROM PRIOR YEAR PERIOD AND PRIOR QUARTER, RESPECTIVELY

* OIL AND GAS SALES AND OTHER REVENUE IN QUARTER OF $382.2 MILLION WERE UP 38% FROM PRIOR YEAR PERIOD AND DOWN 9% FROM PRIOR QUARTER

* QTRLY BASIC NET INCOME OF $0.45/SHARE

* AFFIRMING 2018 OPERATING EBITDA GUIDANCE OF $400 TO $450 MILLION

* 2018 MIDPOINT OF AVERAGE ANNUAL DAILY NET PRODUCTION GUIDANCE IS LOWERED BY 5% TO 64,000 BOE/D (FROM 67,500 BOE/D)

* SAYS APPOINTMENT OF VERONIQUE GIRY TO BOARD OF DIRECTORS

* SEES 5% DECREASE TO MIDPOINT OF CAPITAL EXPENDITURES GUIDANCE FOR 2018 TO $450 MILLION (FROM $475 MILLION).

* SAYS FY 2018 PRODUCTION COST GUIDANCE IS INCREASED TO A MIDPOINT VALUE OF $14.25/BOE (FROM $13.00/BOE)

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