Latin America

Frontera Announces Resumption of Production from Block 192 in Peru

Production Ramping Back Up to Over 8,600 Barrels of Oil Per Day

Press Release
04/09/2018 19:07
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Frontera Energy Corporation, today announced that repairs have been completed on the NorPeruano pipeline in Peru and it has now resumed normal operations, allowing the Company to restart production from Block 192.

On June 4, 2018, Petroperu S.A. ("Petroperu") declared force majeure on the NorPeruano pipeline, which transports crude oil from Block 192 to the export terminal at Bayovar. Prior to the force majeure event, the Block was producing approximately 8,600 bbl/d net to Frontera. Petroperu began repairing the pipeline in mid-June and the pipeline resumed operations on August 30, 2018. With the reactivation of the pipeline, Frontera has commenced pumping crude oil from storage and will ramp production back up to pre-force majeure levels in the coming days. While the pipeline was shut down, the Company undertook a work-over and well service program which is expected to add additional daily volumes once the Block ramps up to full production. As of September 3, 2018, the gross production level rose to over 10,000 bbl/d and it is projected to be over 12,000 bbl/d in a few days.

Richard Herbert, Chief Executive Officer, commented:

"We are pleased to see the resumption of service on the NorPeruano pipeline and the increase in production from Block 192 in Peru, a very important producing asset for Peru and for Frontera. We look to continue operating the Block in an effective manner for the remaining life of the contract, now expected until September 2019."

About Frontera:

Frontera Energy Corporation is a Canadian public company and a leading explorer and producer of crude oil and natural gas, with operations focused in Latin America. The Company has a diversified portfolio of assets with interests in more than 30 exploration and production blocks in Colombia and Peru. The Company's strategy is focused on sustainable growth in production and reserves. Frontera is committed to conducting business safely, in a socially and environmentally responsible manner. Frontera's common shares trade on the Toronto Stock Exchange under the ticker symbol "FEC".

 

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