March 23, 2020 / 12:08 PM / 7 days ago

BRIEF-Frontera Announces Responses To Lower Oil Price Environment

March 23 (Reuters) - Frontera Energy Corp:

* FRONTERA ANNOUNCES RESPONSES TO LOWER OIL PRICE ENVIRONMENT

* FRONTERA ENERGY CORP - ANNOUNCED RESPONSES TO LOWER OIL PRICE ENVIRONMENT, WHICH INCLUDES A REDUCTION IN 2020 CAPITAL PLAN

* FRONTERA ENERGY CORP - DAVID DYCK IS STEPPING DOWN AS CHIEF FINANCIAL OFFICER, EFFECTIVE MARCH 31, 2020

* FRONTERA ENERGY - ON APRIL 1, ALEJANDRO PIÑEROS, WHO CURRENTLY SERVES AS CORPORATE VICE-PRESIDENT OF STRATEGY & PLANNING, WILL BECOME CO’S CFO

* FRONTERA ENERGY CORP - PLANNED 2020 CAPITAL EXPENDITURES ARE BEING REDUCED BY AROUND 60%

* FRONTERA ENERGY CORP - COMPANY IS CURRENTLY REDUCING PLANNED 2020 CAPITAL EXPENDITURES BY AROUND 60% TO A RANGE OF $130 TO $150 MILLION

* FRONTERA ENERGY CORP - REVISED AVERAGE ANNUAL PRODUCTION IN 2020 IS EXPECTED TO BE IN RANGE OF 55,000 TO 60,000 BOE/D

* FRONTERA ENERGY CORP - COMPANY HAS DELIBERATELY SHUT-IN A NUMBER OF WELLS THAT ARE NOT ECONOMIC TO OPERATE AT CURRENT PRICES

* FRONTERA ENERGY CORP - COMPANY IS ALSO ACTIVELY WORKING TO REDUCE PRODUCTION, TRANSPORTATION AND G&A COSTS

* FRONTERA ENERGY CORP - CFO TO STEP DOWN IN CONNECTION WITH COST SAVINGS INITIATIVES & IN AN EFFORT TO STREAMLINE ORGANIZATION Source text for Eikon: Further company coverage:

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