Frontera Energy

Frontera Energy
Company typePublic
TSX: FEC
IndustryOil and Gas
PredecessorPacific Rubiales Energy Corp. (1982-2015)[1]
Pacific Exploration and Production (2015-2017)
Founded2009
Headquarters
Toronto, Ontario, Canada
Key people
Orlando Cabrales Segovia (CEO)
RevenueIncrease US$ 4.6 billion (2013)
Increase US$ 1.1 billion (2013)
Decrease US$ 430.4 million (2013)
Number of employees
2,506
SubsidiariesPacific E&P Holdings Corp., Meta Petroleum Corp., Pacific Stratus International Energy Ltd., Pacific Stratus Energy Colombia Corp., Pacific Stratus Energy S.A., Pacific Off Shore Peru S.R.L., Pacific Rubiales Guatemala S.A., Pacific Guatemala Energy Corp., PRE-PSIE Coöperatief U.A., Petrominerales Colombia Corp. and Grupo C&C Energia (Barbados) Ltd.
Websitewww.fronteraenergy.ca

Frontera Energy (formerly Pacific Exploration and Production) is a Canadian petroleum exploration and production company in the business of heavy crude oil and natural gas. Its focus is on Colombia and Peru where it holds numerous properties including 38 blocks in the Llanos, Sucre-Co Lower Magdalena and Cesar Valley, Rancheria, Upper and Middle Magdalena Valley, Putumayo Valley, Ucayali and Maranon basins. In early 2010 it was the largest independent oil company operating in South America and in terms of private companies the fastest growing one in Colombia.[2] In 2011 it was responsible for 41% of the growth in oil production in Colombia. In mid-2015 it changed its name from Pacific Rubiales to Pacific Exploration and Production,[1] signalling the diminished importance of the Rubiales oil field in Colombia in the company's total assets and a broader focus in Latin America.[3][4] When Pacific Exploration and Production filed for bankruptcy protection on April 27, 2016, it listed Pacific E&P Holdings Corp., Meta Petroleum Corp., Pacific Stratus International Energy Ltd., Pacific Stratus Energy Colombia Corp., Pacific Stratus Energy S.A., Pacific Off Shore Peru S.R.L., Pacific Rubiales Guatemala S.A., Pacific Guatemala Energy Corp., PRE-PSIE Coöperatief U.A., Petrominerales Colombia Corp. and Grupo C&C Energia (Barbados) Ltd. as subsidiaries. In June 2017, it renamed itself Frontera Energy, and was relisted on the Toronto Stock Exchange.[5]

  1. ^ a b "Pacific Rubiales announces corporate name change to Pacific Exploration and Production Corporation to reflect a broader focus in Latin America". PR Newswire. August 14, 2015. Retrieved October 26, 2017.
  2. ^ "Pacific Rubiales: Strong Colombia Growth". Latin Business Chronicle. 2010-07-04. Archived from the original on 2010-11-28. Retrieved 2010-09-16.
  3. ^ Cite error: The named reference nov was invoked but never defined (see the help page).
  4. ^ "Man Who Spoiled Pacific Rubiales Oil Deal Has a Growth Plan". Bloomberg. 21 August 2015. Retrieved 14 September 2015. The man who last month helped blow up a C$2.1 billion ($1.6 billion) bid for Pacific Rubiales Energy Corp. is now urging Latin America's largest independent oil producer to expand amid the worst crude meltdown in decades. Alejandro Betancourt, the 35-year-old Venezuelan who controls almost 20 percent of Pacific's stock, says growth for the Colombia-based company hinges on its
  5. ^ "Frontera Energy reaches deal with Amazon natives in Peru over oil field - Article - BNN". BNN. 2017-06-15. Retrieved 2018-01-26.