06:35 AM EDT, 08/14/2025 (MT Newswires) -- Frontera Energy ( FECCF ) on Thursday reported a wider second-quarter net loss on non-cash impairment charges related to its interest in the Corentyne license and Ecuadorian assets.

The net loss was US$455.2 million, or US$5.89 per share, compared with a loss of US$2.8 million, or US$0.03 per share.

Oil and gas sales net of purchases came in at US$170.9 million, down from US$217.1 million.

Operating EBITDA also fell to US$76.1 million from US$110.3 million.

The company produced 41,055 barrels of oil equivalent per day, rising from 39,912 boe/d.

Frontera booked an impairment of over US$430 million related to its investment in the Corentyne block, following the expiry of a 90-day consultation and negotiation period. The company also cited uncertainty introduced by the government of Guyana.

Frontera's board declared a dividend of C$0.0625 per common share, to be paid on or around Oct. 16 to shareholders of record at the close of business on Oct. 2.

The company lowered its 2025 production guidance to 39,500 to 41,000 boe/d, from the previous guidance of 41,000 to 43,000 boe/d, following the divestment of its non-core assets in Ecuador. The guidance now only reflects Frontera's Colombian operations.

Frontera also revised downward its 2025 capital expenditures guidance to US$196 million to US$248 million, from US$216 million to US$268 million previously.