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Frontera Energy posts Q2 net income, reverses prior-year loss

Frontera Energy Corp. on Aug. 1 reported a second-quarter net income of $228 million, up from a net loss of $184 million in the second quarter of 2018.

Revenue for the quarter totaled $377 million, down from the $405 million posted a year ago.

Capital expenditures came in at $73 million compared to the $87 million reported during the same period in 2018.

Total equivalent production came in at 74,385 barrels of oil equivalent per day in the second quarter compared to the 72,026 boe/d seen a year ago.

In addition, the company increased its guidance range for full-year operating EBITDA to $525 million to $575 million. The previous guidance was $400 million to $450 million.

Headquartered in Toronto, Frontera Energy engages in exploring, developing and producing crude oil and natural gas in South America.