Governance
Steering Towards Success: Ethical Leadership for Sustainable Growth
Our commitment to good corporate governance creates an environment that promotes long-term growth. This commitment ensures transparency and accountability, which are essential for securing the trust of our stakeholders. It also fosters a culture of ethical decision-making and compliance that helps mitigate risks and contributes to the company’s sustainability and success.
Our Performance in 2024
On the governance front:
- Implemented an effective cybersecurity plan, maintaining a zero rate of material cybersecurity incidents.
- Ethisphere recognized Frontera for the 4th consecutive year, as one of the most ethical companies in the world.
Compliance, Ethics and Transparency
Ethics Excellence: We were recognized as one of the World’s Most Ethical Companies by Ethisphere for a fourth consecutive year.
Comprehensive Risk Management
Sustainability-Climate Risk Synergy: We made progress in linking sustainability and climate risks in the corporate risk strategy.
Cybersecurity
Flawless Operations Achieved. We maintained a rate of zero material incidents without information or financial loss.
Human Rights
Ethical Operations Commitment: No human rights violations were detected in our operations.
Innovation and Competitiveness
- 38 employees trained as agile coaches.
- A cost reduction of US$39.8 million was achieved through 256 employee-led initiatives.
Financial Performance and Operation Excellence
Growth and Efficiency: By monitoring high standards of governance and transparency, we executed a total expenditure of US$443 million to deliver gross 2P reserves of 164 MMboe and an average production of 40,919 boe/d, optimizing capital efficiency and cash flow.
Our 2024 Governance GoalsInfluencers of Integrity
GOVERNANCE GOALS
Compliance, ethics and transparency
Strive to be a role model for ethical
behavior and compliance throughout the value chain and the market.
Comprehensive risk management
Ensure that all requests,
complaints, and claims related to human rights are promptly addressed and resolved, achieving a 100% management rate
Innovation and Competitiveness
Achieve
US $30 million in cost reductions
Implement
Consolidate
25 agile initiatives with the Coach Agile tribe
Governance Cybersecurity
Maintaining
a rate of 0 material incidents in cybersecurity.
Human Rights
Ensure
adequate human rights due diligence in Frontera’s operations
Performance & Excellence
Achieve
an average production of more than 40,000 boe/d, optimizing the execution of capital expenditures