Frontera posts $11.7 million third-quarter profit as EBITDA rises

Revenue and other income totaled $33.0 million, up from $27.9 million in the same quarter of 2025. Puerto Bahia port revenues reached $15.8 million, compared with $12.1 million a year earlier, while Frontera’s 35% share of income from the ODL pipeline investment was $17.2 million. ODL transported an average of about 242,000 barrels per day.

At Puerto Bahia, RoRo traffic rose 37% year over year to 49,575 units, and break-bulk volumes increased 62% to 15,303 tons or cubic metres. LPG throughput was 13,792 tons, more than triple the 4,000 tons recorded in the second quarter. Frontera said it sanctioned Phase II of the LPG project and awarded an engineering, procurement and construction contract for a refrigerated storage facility with capacity of 29,500 tons. Operations are targeted to start in 2028.

The LNG project was 71% complete at quarter-end. Frontera invested $17.7 million in it during the quarter, including work on jetty modifications and the gas-pipeline connection. Under a take-or-pay agreement, Puerto Bahia is to provide LNG logistics and regasification services to Ecopetrol, starting at 126 million cubic feet per day in February 2027 and increasing to 300 million cubic feet per day after the first two years. The project’s estimated cost is $80 million to $100 million. Frontera also plans to seek additional third-party LNG volumes.

Capital expenditures totaled $19.5 million in the quarter. At Sept. 30, the company reported $83.9 million in cash and cash equivalents, $191.1 million in debt and lease liabilities, and net debt of $107.2 million. Its last-12-month infrastructure distributable cash flow was $87.0 million, compared with $77.9 million a year earlier. Frontera is also evaluating a potential 150–300 MW gas-fired power plant; the proposal remains subject to permits, approvals and commercial arrangements.