Jan. 30 at 2:17 PM
$FECCF The transaction as a result will see Frontera transition to an infrastructure company, with major assets moving forward to include the Puerto Bahia multimodal maritime terminal in Colombia, and a 35% interest in the 300,000 bbl/d ODL pipeline. The company at the same time will be retaining interests in Guyana and certain non-Colombian assets. 2025 distributable cash flow of approximately
$77 million is expected from this asset base.
“Following an exhaustive review of the Company’s alternatives, we believe this Transaction crystallizes value for shareholders at an attractive premium for our Colombian E&P assets, converting exposure to oil prices into cash, and retaining upside through a standalone Infrastructure Business,” commented Orlando Cabrales, CEO of Frontera.