Frontera Energy Corporation

Pacific Exploration and Production was known as Petro Rubiales from 1982, when the company began operating in the Rubiales oil fields in Colombia, until 2015 when its name was changed. It had origins in Agincourt Explorations in 1987, a TSX Venture Exchange listed company. In 1995 Agincourt Explorations, Agincourt Explorations became AGX Resources Corp.; a mineral exploration company focused on Brazil and Canada. After AGX acquired Rubiales Holdings in 2007 from Petro Rubiales it became known as Petro Rubiales Energy Corp. up until 2008 when it merged with Vancouver-based Pacific Stratus Energy Ltd. in a $2.5 billion causing a name change to Pacific Rubiales Energy Corp. Less than two weeks after the merger the company delisted from the TSX Venture Exchange. Later in 2008 it acquired Kappa Energy, a Colombian exploration company with licenses to 747,000 acres of land which included parts of the lower, middle, and upper Magdalena, Catatumbo, and Llanos basins. The transaction was valued at $168 million and increased Pacific Rubiales' possible reserves by 24.2 million boe. By 2008, Kappa was part of division Kappa Energy Holdings. On October 19, 2011 it became engaged in oil drilling activity in northern Guatemala.

In January 2010, Petro Rubiales signed a $190 million deal with Ocensa pipeline to use their pipeline and oil transport infrastructure to transport up to 160 million barrels of oil for a period of ten years.

In September 2010, Petro Rubiales followed through with its promise to focus more on developing assets already mature or low risk and less on exploration in high risk areas by divesting itself of fields within the Buganviles oil and gas block of Colombia. It sold a 29.5% interest in Visure and 25% in Tuqueque to a subsidiary of Peruvian company Petrodorado. Though the deal gives Petrodorado a near joint interest in the Buganviles block Pacific Rubiales remains the controlling operator.

On February 1, 2012 Pacific Rubiales Energy became the first Canadian company to receive approval from BM&F Bovespa to issue Brazilian Depository Receipts for trading on the Brazilian stock exchange.

In early 2015 as oil prices were declining, Alejandro Betancourt López of Derwick Associates led an investment group to purchase a 20% share of the company for $290 million. On April 27, 2016 the Pacific Exploration & Production Corporation and its subsidiaries filed for bankruptcy protection, and began the process of restructuring. In 2017, it renamed itself Frontera Energy, and was relisted on the Toronto Stock Exchange.