08:48 AM EST, 12/12/2024 (MT Newswires) -- Frontera Energy ( FECCF ) on Thursday provided an operational update and its 2025 capital and production guidance.

The company said its fourth-quarter production to date from the Colombia and Ecuador upstream operation is about 42,450 barrels of oil equivalent per day (boe/d), with a year-to-date average of 40,200 boe/d, within the company's 2024 production guidance range.

Frontera expects to deliver a full year 2025 production of 41,000 to 43,000 boe/d for 2025, a 2% production increase at the midpoint compared to 2024 levels.

The company anticipates generating consolidated operating ebitda of US$370 million to US$415 million at US$75 per barrel and US$420 million to US$465 million at US$80/bbl average Brent prices.

Frontera said it plans to invest US$200 million to US$245 million, including US$30 million to US$40 million exploration investments, in the company's core Colombia and Ecuador upstream business, a 13% decrease at the midpoint compared to 2024.

Frontera expects to generate consolidated 2025 free cash flow of US$79 million to US$122 million and US$124 million to US$167 million at a US$75/bbl and US$80/bbl average Brent, respectively.

"Frontera remains committed to enhancing stakeholder value initiatives for 2024 and beyond, including the possibility of additional dividends, share buybacks, bond buybacks or other initiatives, based on the overall results of the business, cash flow generation, oil prices and the Company's strategic goals," CEO Orlando Cabrales said.

Frontera's share price gained 1% on Wednesday to $7.84 on the TSX.