06:24 AM EDT, 05/09/2025 (MT Newswires) -- Frontera Energy ( FECCF ) on Friday 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.