(Idea) Frontera Energy
Frontera Energy (FEC:CA) (OTCPK:FECCF) is a Canadian-domiciled E&P with operations in South America. In the third quarter of 2023, it produced an average of 40,150 boe/d in Colombia—up from 39,829 boe/d in the year-ago quarter—and 652 boe/d in Ecuador—down from 1,204 boe/d in the year-ago quarter. Total production was 40,802 boe/d, in line with management's guidance of between 40,000 and 43,000 boe/d. FEC also owns rights to an exploration block in Guyana in the early stage of development.
The company’s operations are shown in the map below.
Source: Frontera Energy website.
What is clear is that FEC shares are cheap. At their current low price, they can be viewed as a free cash flow play, asset play, or exploration play.