Frontera Energy Reports Strong 2023 Financials

Frontera Energy Corp (OTC) (TSE:FEC) has released an update.

Frontera Energy Corporation reported a robust financial performance for 2023, with a net income of $193.5 million and a strong year-end cash position of $190 million. The energy company delivered an average daily production of 40,919 barrels of oil equivalent per day (Boe/d), generating an operating EBITDA of $467.2 million, and declared a quarterly dividend of C$0.0625 per share. Frontera also highlighted its commitment to sustainability by commissioning its first solar farm and achieving a 50% emission offset through carbon credits.

For further insights into TSE:FEC stock, check out TipRanks’ Stock Analysis page.