08:45 AM EDT, 05/09/2025 (MT Newswires) -- Frontera Energy ( FECCF ) said Friday it commenced a cash tender offer for up to US$65 million in aggregate principal amount of its outstanding 7.875% senior secured notes due 2028.

The offer will expire June 9. The settlement for notes tendered by May 23 is expected to occur on or about May 30.

Earlier on Friday Frontera said it swung to a profit in the first quarter after recording income tax recoveries. The company posted net income of US$27.5 million, or US$0.34 per share, compared with a loss of US$8.5 million, or US$0.10 per share.

Net sales inched down to US$190.8 million from US$192.8 million. Operating EBITDA also fell, dropping to US$83.5 million from US$97.2 million.

The company produced 40,477 barrels of oil equivalent per day in the quarter, an increase from 38,193 boe/d. Frontera said it is confident it will meet its full year average production guidance of 41,000 to 43,000 boe/d.