By Carlo Martuscelli

Frontera Resources Corp. (FRR.LN) said Monday that it has signed a memorandum of understanding with Baker Hughes, a GE co. (BHGE) to develop its Block 12 asset in Georgia.

The company said that under the deal's terms it will cooperate with Baker Hughes to improve efficiency and increase production at the holding. Baker Hughes will provide equipment, services and knowledge, Frontera said.

The two companies will work toward entering a definitive agreement to cooperate at the field. Frontera said the memorandum will be effective until Sept. 26, 2019, and can be terminated by either party with 30 days' notice.

Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com

(END) Dow Jones Newswires

October 29, 2018 04:50 ET (08:50 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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