Following an initial eight-month term, the credit facility is expected to be extended to two years “upon satisfaction of certain extension conditions."
Despite high oil prices, Frontera realized just $249.5 million USD in sales in the quarter compared to $316.6 million USD in the first quarter of 2017.
Santiago Ángel expressed his optimism for a turnaround in a sector that brought in a relatively underwhelming $2.6 billion USD over the last four years.