Gran Tierra Energy

Gran Tierra Energy, Inc. engages in the exploration and production of oil and natural gas in Colombia and Ecuador. It holds interests in the assets located in the Middle Magdalena Valley and Putumayo Basins. The company was founded on June 6, 2003 and is headquartered in Calgary, Canada.

Earnings data Q1 2021

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Gran Tierra Energy posts strong Q2 earnings amid strategic moves

Gran Tierra Energy delivered robust financial results in Q2 2024, driven by increased oil sales and improved operating metrics.
The company's strategic financial maneuvers and shareholder-friendly initiatives underscore its commitment to long-term value creation.
While facing industry challenges and uncertainties, Gran Tierra Energy remains poised to leverage its strengths and pursue growth opportunities.

Gran Tierra Energy reports solid Q3 results amidst diversification

Gran Tierra Energy's Q3 2024 performance reflects solid financial metrics, despite challenges in oil sales and operating netback.
The company's strategic strengths lie in its diversified portfolio, operational successes, and focus on growth opportunities in Canada and South America.
While facing challenges in pricing and operational efficiency, GTE has opportunities to capitalize on acquisitions, global expansion, and operational enhancements.
Overall, GTE's performance highlights a mix of financial stability, operational progress, and strategic direction for future growth.

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Gran Tierra Energy, Inc engages in the exploration and production of oil and natural gas in Colombia and Ecuador. It holds interests in the assets located in the Middle Magdalena Valley and Putumayo Basins. The company was founded on June 6, 2003 and is headquartered in Calgary, Canada.

CALGARY, Alberta, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE)(TSX:GTE)(LSE:GTE) is pleased to announce that Gran Tierra (by way of its wholly-owned subsidiary) has completed its previously announced strategic joint venture transaction and partnership (the “Transaction”) with Logan Energy Corp. (“Logan”) (TSXV:LGN). Pursuant to the Transaction, Gran Tierra and Logan entered into a purchase and sale agreement whereby Logan acquired a 50% working interest and operatorship of a portion of Gran Tierra's Simonette Montney assets (the “Assets”) for approximately C$52 million in cash, subject to customary adjustments. Gran Tierra will retain the remaining 50% working interest in the Assets.

Gran Tierra Energy Inc. Announces Closing of Strategic Joint Venture Transaction and Partnership with Logan Energy Corp. to Accelerate Value in High-Impact Canadian Montney Oil Play

Gran Tierra Energy Inc. appears significantly undervalued, with proven reserves and free cash flow growth suggesting a strong buy opportunity. Recent discoveries in Ecuador and a joint venture with Logan Energy could boost production and attract new investors. The acquisition of i3 for $225.4 million and links with Trafigura highlight GTE's growth potential and undervaluation.

Gran Tierra Energy: Links With Trafigura And New Oil Discovery Make It A Buy

CALGARY, Alberta, Nov. 26, 2024 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE)(TSX:GTE)(LSE:GTE) is pleased to report that another significant milestone has been achieved in Ecuador with a seventh successful oil discovery further confirming the significant potential of the Arawana / Zabaleta field area. In addition, we are excited to announce that Gran Tierra (by way of its wholly-owned subsidiary) has entered into a purchase and sale agreement with Logan Energy Corp. (“Logan”) (TSXV:LGN) pursuant to which Logan would acquire 50% and operatorship of a portion of Gran Tierra's Simonette Montney assets (the “Assets”) for approximately C$52 million in cash, subject to customary adjustments. After the closing of the Transaction, Gran Tierra would retain 50 percent working interest in the Assets. The Transaction provides a growth-focused platform to advance Gran Tierra's Montney development and is aligned with the Company's corporate strategy of long-term value creation. All dollar amounts are in Canadian dollars, and production amounts are on an average working interest (“WI”) before royalties basis unless otherwise indicated. Per barrel (“bbl”) and bbls of oil equivalent per day (“BOEPD”) amounts are based on WI sales before royalties.

Gran Tierra Energy Inc. Announces Exploration Success in Ecuador and Strategic Joint Venture Transaction and Partnership to Accelerate Value in High-Impact Canadian Montney Oil Play with Logan Energy Corp.

Call Start: 11:00 January 1, 0000 11:24 AM ET Gran Tierra Energy Inc. (NYSE:GTE ) Q3 2024 Earnings Conference Call November 04, 2024 11:00 AM ET Company Participants Gary Guidry – President and Chief Executive Officer Ryan Ellson – Executive Vice President and Chief Financial Officer Sebastien Morin – Chief Operating Officer Conference Call Participants Greg Pardy – RBC Capital Markets Anne Milne – Bank of America Peter Bowley – Jefferies LLC Alejandra Andrade – JPM Operator Good morning, ladies and gentlemen, and welcome to the Gran Tierra Energy's Results Conference Call for the Third Quarter 2024. My name is Shannon, and I will be your coordinator for today.

Gran Tierra Energy Inc. (GTE) Q3 2024 Earnings Call Transcript

CALGARY, Alberta, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. (“Gran Tierra”) (NYSE American: GTE)(TSX: GTE)(LSE: GTE), today announces that the Toronto Stock Exchange (“TSX”) has approved its notice of intention to make a normal course issuer bid (the “Bid”) for its shares of common stock (the “Shares”). As of October 31, 2024, there were 36,460,141 Shares issued and outstanding and the public float was 35,458,717 Shares. Pursuant to the Bid, Gran Tierra will be able to purchase for cancellation up to 3,545,872 Shares, representing 10% of the public float, at prevailing market prices at the time of purchase, through the facilities of the TSX, the NYSE American (the “NYSE”) or alternative trading platforms in Canada or the United States, if eligible, or by such other means as may be permitted by the TSX, the NYSE and applicable securities laws for a one year period commencing on November 6, 2024 and ending on November 5, 2025. Gran Tierra has also entered into an Automatic Share Purchase Plan (the “ASPP”) in connection with the Bid. The ASPP is intended to allow for the purchase of Shares under the Bid when Gran Tierra would ordinarily not be permitted to purchase Shares due to regulatory restrictions and customary self-imposed blackout periods.

Gran Tierra Energy Inc. Announces Normal Course Issuer Bid and Automatic Share Purchase Plan

CALGARY, Alberta, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE) (TSX:GTE) (LSE:GTE) announced the Company's financial and operating results for the quarter ended September 30, 2024 (“the Quarter”). All dollar amounts are in United States dollars, and production amounts are on an average working interest (“WI”) before royalties basis unless otherwise indicated. Per barrel (“bbl”) and bbl per day (“BOPD”) amounts are based on WI sales before royalties. For per bbl amounts based on net after royalty (“NAR”) production, see Gran Tierra's Quarterly Report on Form 10-Q filed November 4, 2024.

Gran Tierra Energy Inc. Reports Third Quarter 2024 Results and Announces its Sixth Consecutive Ecuador Oil Discovery from the Charapa-B7 Well

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION FOR IMMEDIATE RELEASE CALGARY, Alberta, Oct. 31, 2024 (GLOBE NEWSWIRE) -- 31 October 2024 RECOMMENDED AND FINAL CASH AND SHARE ACQUISITION for i3 Energy plc ("i3 Energy") by Gran Tierra Energy Inc. ("Gran Tierra") to be implemented by way of a scheme of arrangement under Part 26 of the Companies Act 2006 SCHEME OF ARRANGEMENT BECOMES EFFECTIVE On 19 August 2024, the boards of directors of i3 Energy and Gran Tierra announced that they had reached agreement on the terms of a recommended and final cash and share acquisition of the entire issued, and to be issued, share capital of i3 Energy (the "Acquisition"). The Acquisition is being implemented by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006.

Scheme of Arrangement for Acquisition of i3 Energy plc Becomes Effective

CALGARY, Alberta, Oct. 28, 2024 (GLOBE NEWSWIRE) --  Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE)(TSX:GTE)(LSE:GTE) announces that the Company will release its 2024 third quarter financial and operating results on Monday, November 4, 2024, before market open. Gran Tierra will host its 2024 third quarter results conference call on the same day, Monday, November 4, 2024, at 9:00 a.m. Mountain Time, 11:00 a.m. Eastern Time.

Gran Tierra Energy Inc. Provides Release Date for its 2024 Third Quarter Results and Details of Conference Call and Webcast

CALGARY, Alberta, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. (“Gran Tierra”) (NYSE American:GTE) (TSX:GTE) (LSE:GTE) today announced that the shareholders of i3 Energy plc, a public limited company organized under the laws of England and Wales (“i3 Energy”), have approved Gran Tierra's previously announced acquisition of i3 Energy (the “Acquisition”).

Gran Tierra Energy Inc.'s Acquisition of i3 Energy Approved by i3 Energy Shareholders

Gran Tierra Energy has guided to $1.9bn cumulative free cash flow by 2029. My model suggests this is possible, especially factoring in the acquisition of i3 Energy plc. In less favourable oil price scenarios, it could still generate good free cash flow. The current market cap (~$200m) and EV (~$700m) mean it is deeply discounted if this guidance is anywhere close to correct.

Gran Tierra Energy: Not Without Risk, But A Large Margin Of Safety

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Gran Tierra remains undervalued despite lower oil prices. Gran Tierra's low production costs and increased capacity ensure profitability even if oil prices stay around $70/bbl. The acquisition of i3 Energy enhances GTE's scale, reduces risk, and boosts long-term growth prospects.

Gran Tierra Energy: Still Undervalued Despite Lower Oil Prices

Gran Tierra Energy, a Canadian firm operating mainly in Colombia and Ecuador, announced a major acquisition in Canada, diversifying its portfolio and reducing political risks. GTE shares are undervalued, with a market cap of $196 million, strong cash flow, and manageable debt, presenting a compelling investment opportunity. The acquisition of i3 Energy plc will increase production to 50,000-54,000 boe/day and introduce natural gas to its portfolio, enhancing operational synergies.

Gran Tierra Energy: A Stellar Prospect With Significant Upside Potential

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CALGARY, Alberta, Sept. 18, 2024 (GLOBE NEWSWIRE) --  Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE)(TSX:GTE)(LSE:GTE) today announced that it has completed its previously announced offering of an additional $150 million aggregate principal amount of its previously issued 9.500% Senior Secured Amortizing Notes due 2029 (the “Notes”) in a private placement to persons reasonably believed to be qualified institutional buyers in the United States pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), to non-U.S. persons in transactions outside the United States pursuant to Regulation S under the Securities Act, and pursuant to certain prospectus exemptions in Canada.

Gran Tierra Energy Inc. Announces Closing of an Additional $150 Million Aggregate Principal Amount of its 9.500% Senior Secured Amortizing Notes due 2029

CALGARY, Alberta, Sept. 13, 2024 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE)(TSX:GTE)(LSE:GTE) today announced that it has priced its offering of an additional $150 million aggregate principal amount of its previously issued 9.500% Senior Secured Amortizing Notes due 2029 (the “Notes”) in a private placement to persons reasonably believed to be qualified institutional buyers in the United States pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), to non-U.S. persons in transactions outside the United States pursuant to Regulation S under the Securities Act, and pursuant to certain prospectus exemptions in Canada.

Gran Tierra Energy Inc. Announces Pricing of an Additional $150 Million Aggregate Principal Amount of its 9.500% Senior Secured Amortizing Notes due 2029

CALGARY, Alberta, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE) (TSX:GTE) (LSE:GTE) today announced that it intends, subject to market and other conditions, to offer an additional amount of its previously issued 9.500% Senior Secured Amortizing Notes due 2029 (the “Notes”) in a private placement to persons reasonably believed to be qualified institutional buyers in the United States pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), to non-U.S. persons in transactions outside the United States pursuant to Regulation S under the Securities Act, and pursuant to certain prospectus exemptions in Canada.

Gran Tierra Energy Inc. Announces Private Offering of an Additional Amount of its 9.500% Senior Secured Amortizing Notes due 2029

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

Update on Regulatory Conditions for Acquisition of i3 Energy Plc

Shares of i3 Energy jumped as much as 33.7% on Tuesday morning after Canada's Gran Tierra Energy offered to buy the British oil and gas producer in a deal valued at 174.1 million pounds ($226.23 million).

UK's i3 Energy surges on $226 mln takeover offer from Canada's Gran Tierra Energy

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY RESTRICTED JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

Rule 2.7 Announcement: Gran Tierra Energy to Acquire i3 Energy plc

CALGARY, Alberta, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE)(TSX:GTE)(LSE:GTE) today announced an operational update.  Production amounts are on an average working interest before royalties (“WI”) basis unless otherwise indicated. Per barrel (“bbl”) and bbl of oil per day (“BOPD”) amounts are based on WI sales before royalties.

Gran Tierra Energy Inc. Announces Fifth Consecutive Ecuador Oil Discovery from the Charapa-B6 Well

CALGARY, Alberta, Aug. 05, 2024 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE) (TSX:GTE) (LSE:GTE) today announced an operational update.  Production amounts are on an average working interest before royalties (“WI”) basis unless otherwise indicated. Per barrel (“bbl”) and bbl of oil per day (“BOPD”) amounts are based on WI sales before royalties.

Gran Tierra Energy Inc. Announces Positive Test Results from Bocachico Norte-J1

Gran Tierra Energy Inc. (NYSE:GTE ) Q2 2024 Earnings Conference Call August 1, 2024 11:00 AM ET Company Participants Gary Guidry - President and CEO Ryan Ellson - Executive Vice President and CFO Sebastien Morin - Chief Operating Officer Conference Call Participants Alejandra Andrade - JPM Diego Espinoza - BTG Pactual Operator Good morning, ladies and gentlemen. And welcome to Gran Tierra Energy Results Conference Call for the Second Quarter of 2024.

Gran Tierra Energy Inc. (GTE) Q2 2024 Earnings Call Transcript

CALGARY, Alberta, July 31, 2024 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE)(TSX:GTE)(LSE:GTE) announced the Company's financial and operating results for the quarter ended June 30, 2024 (“the Quarter”). All dollar amounts are in United States dollars, and production amounts are on an average working interest (“WI”) before royalties basis unless otherwise indicated. Per barrel (“bbl”) and bbl per day (“BOPD”) amounts are based on WI sales before royalties. For per bbl amounts based on net after royalty (“NAR”) production, see Gran Tierra's Quarterly Report on Form 10-Q filed July 31, 2024.

Gran Tierra Energy Inc. Reports Second Quarter 2024 Net Income of $36 Million and Continued Exploration Success

CALGARY, Alberta, July 24, 2024 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE)(TSX:GTE)(LSE:GTE) announces that the Company will release its 2024 second quarter financial and operating results on Wednesday, July 31, 2024, after market close. Gran Tierra will host its 2024 second quarter results conference call on Thursday, August 1, 2024, at 9:00 a.m. Mountain Time, 11:00 a.m. Eastern Time.

Gran Tierra Energy Inc. Provides Release Date for its 2024 Second Quarter Results and Details of Conference Call and Webcast

Gran Tierra Energy is a small Canadian oil driller focused on operations in Colombia and Ecuador. Gran Tierra's stock currently trades with a 25% free cash flow yield and at a massive discount to its own net asset value. Through stock buybacks, debt reduction, and continued reserves growth, Gran Tierra's net asset value per share could exceed $100/share by the 2028.

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