Frontera Energy entered into a $120 million prepayment and commercial agreement with Chevron Products.
- Will receive initial advance $80m and commit to deliver portion of its crude oil production for a period of two years to Chevron
- Frontera Energy may request added $40m advance for up to 6 months on a fully committed basis
- Agreement includes six-month grace period before repayment begins at SOFR plus 4.25%
- Proceeds will manage working capital flows and enhance company’s liquidity position
- Deal replaces existing prepayment agreement expiring at end of January 2026
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