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Gran Tierra Energy - GTE STOCK NEWS

Welcome to our dedicated page for Gran Tierra Energy news (Ticker: GTE), a resource for investors and traders seeking the latest updates and insights on Gran Tierra Energy stock.

Gran Tierra Energy Inc. (GTE) is an independent international energy company focused on the acquisition, exploration, development, and production of oil and gas. Headquartered in Calgary, Canada, the company strategically concentrates on onshore oil and gas properties in Colombia. Gran Tierra is publicly listed on the New York Stock Exchange and the Toronto Stock Exchange under the ticker symbols GTE.

The company is committed to growth and value creation, aiming to reposition itself as the leading independent oil producer in Colombia. Gran Tierra produces light and medium crude oil, as well as natural gas. The majority of its revenue is derived from its operations in Colombia, with additional prospective properties located in Ecuador.

Gran Tierra takes pride in its partnerships with local communities, implementing shared value, sustainable community, and social responsibility programs. Recent achievements include significant advancements in exploration and increased production capacity, contributing to the company's robust financial condition. Gran Tierra continues to pursue strategic initiatives and maintain strong financial stewardship to ensure long-term success.

The company remains resilient in the face of challenges, such as geopolitical events and fluctuations in market conditions. Gran Tierra actively manages risks and maintains operational efficiency, adapting to changing environments to protect and enhance shareholder value.

For the latest updates, news, and developments about Gran Tierra Energy Inc., visit StockTitan and stay informed about their ongoing projects and financial performance.

News

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

Rhea-AI Summary
Gran Tierra Energy Inc. plans to offer an additional amount of its previously issued 9.500% Senior Secured Amortizing Notes due 2029 in a private placement. The Notes will have the same terms and provisions as the Original Notes, with the net proceeds intended for repaying outstanding amounts borrowed under its existing credit facility and general corporate purposes. The offering will be made to qualified institutional buyers in the United States, non-U.S. persons outside the United States, and pursuant to certain prospectus exemptions in Canada.
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Gran Tierra Energy Inc. Announces 2024 Guidance and Operations Update

Rhea-AI Summary
Gran Tierra Energy Inc. announced its 2024 capital budget and production guidance, forecasting a 4% increase in production from 2023, a 11% increase from 2022, and a 28% increase from 2021. The company plans to drill 13-17 development wells and 6-9 high impact near-field exploration wells. The 2024 capital budget ranges from $210-240 million, with expected cash flow of $280-320 million. The company also aims to allocate up to 50% of free cash flow to share buybacks.
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Gran Tierra Energy Inc. Announces Strong Reserves Replacement and Meaningful Reserves Growth in 2023

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Gran Tierra Energy Inc. achieved record reserves of 90 MMBOE 1P, 147 MMBOE 2P, and 207 MMBOE 3P, with a 154% 1P, 242% 2P, and 303% 3P reserves replacement, and achieved a 288% increase in net asset values per share before tax. The company also reported F&D costs per boe of $11.96 (1P), $7.58 (2P), and $6.06 (3P) and a net present value before tax discounted at 10% of $1.9 billion (1P), $3.1 billion (2P), and $4.3 billion (3P).
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Gran Tierra Energy Inc. Announces Normal Course Issuer Bid and Automatic Share Purchase Plan

Rhea-AI Summary
Gran Tierra Energy Inc. has received approval from the Toronto Stock Exchange to initiate a normal course issuer bid (NCIB) for its common stock. The bid allows the company to purchase up to 3,234,914 shares, representing 10% of the public float, over a one-year period. Gran Tierra has also implemented an Automatic Share Purchase Plan (ASPP) to facilitate purchases during regulatory restrictions and blackout periods. The brokerage firm Eight Capital will administer the ASPP. The company believes that the purchase of shares will increase their value and reflect Gran Tierra's current operations, growth prospects, and financial position.
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Gran Tierra Energy Inc. Announces Third Quarter 2023 Results Including the Highest Production Since the Second Quarter of 2019, Net Income of $7 Million and $36 Million of Free Cash Flow

Rhea-AI Summary
Gran Tierra Energy Inc. reported its financial and operating results for Q3 2023. Total average WI production increased by 12% compared to one year ago, reaching 33,940 BOPD, the highest quarterly average since Q2 2019. Net income for the quarter was $7 million, compared to a net loss of $11 million in the prior quarter. Adjusted EBITDA was $119 million, up from $97 million in the prior quarter. The company also announced the issuance of new senior secured amortizing notes, improving its balance sheet and reducing overall leverage.
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Gran Tierra Energy Inc. Announces Appointment of Chief Operating Officer

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Gran Tierra Energy Inc. announces the appointment of Sebastien Morin as Chief Operating Officer (COO). Mr. Morin has a proven track record and will focus on continuous improvement and optimization of capital investments and operating costs. He will be leading the functional integration of asset management plans to achieve optimum value for all company assets.
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Gran Tierra Energy Inc. Provides Release Date for its 2023 Third Quarter Results and Details of Conference Call and Webcast

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Gran Tierra Energy Inc. will release its 2023 third quarter financial and operating results on October 31, 2023. The company will host a conference call on November 1, 2023, to discuss the results.
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Gran Tierra Energy Inc. Announces Issuance of New 9.500% Senior Secured Amortizing Notes Due 2029 as part of the Previously Announced Exchange Offers

Rhea-AI Summary
Gran Tierra Energy Inc. has successfully completed its Exchange Offers, issuing $487,590,000 aggregate principal amount of its 9.500% Senior Secured Amortizing Notes due 2029. The Exchange Offers provide benefits such as an extension of maturity, financial flexibility, strengthened balance sheet, enhanced liquidity, positive rating agency view, and retaining a supportive bondholder base.
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Gran Tierra Energy Inc. Announces Expiration and Final Results for the Previously Announced Exchange Offers of Certain Existing Notes for New Notes and the Solicitations of Consents to Proposed Amendments to the Existing Indentures

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Gran Tierra Energy announces expiration and results of exchange offers for senior notes
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Gran Tierra Energy Inc. Announces Early Participation Deadline Results for the Previously Announced Exchange Offers of Certain Existing Notes for New Notes and the Solicitations of Consents to Proposed Amendments to the Existing Indentures

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Gran Tierra Energy Inc. announced early participation results of its Exchange Offers for outstanding senior notes. 91.04% of the 6.250% Senior Notes due 2025 and 91.41% of the 7.750% Senior Notes due 2027 have been tendered for exchange. Proposed amendments include the elimination of restrictive covenants and events of default. Settlement of the Exchange Offers is expected on October 20, 2023.
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FAQ

What is the current stock price of Gran Tierra Energy (GTE)?

The current stock price of Gran Tierra Energy (GTE) is $4.6 as of February 28, 2025.

What is the market cap of Gran Tierra Energy (GTE)?

The market cap of Gran Tierra Energy (GTE) is approximately 167.2M.

What is Gran Tierra Energy Inc.?

Gran Tierra Energy Inc. is an independent international energy company focused on the acquisition, exploration, development, and production of oil and gas, primarily in Colombia.

Where is Gran Tierra Energy Inc. headquartered?

Gran Tierra Energy Inc. is headquartered in Calgary, Canada.

What stock exchanges is Gran Tierra Energy Inc. listed on?

Gran Tierra Energy Inc. is listed on the New York Stock Exchange and the Toronto Stock Exchange under the ticker symbols GTE.

What are the core business activities of Gran Tierra Energy Inc.?

The core business activities of Gran Tierra Energy Inc. include the acquisition, exploration, development, and production of oil and gas properties.

Where does Gran Tierra Energy Inc. primarily operate?

Gran Tierra Energy Inc. primarily operates in Colombia, with additional prospective properties in Ecuador.

How does Gran Tierra Energy Inc. support local communities?

Gran Tierra Energy Inc. supports local communities through shared value, sustainable community, and social responsibility programs.

What type of products does Gran Tierra Energy Inc. produce?

Gran Tierra Energy Inc. produces light crude oil, medium crude oil, and natural gas.

How does Gran Tierra Energy Inc. manage market risks?

Gran Tierra Energy Inc. actively manages risks by maintaining operational efficiency and adapting to changing geopolitical and market conditions.

What recent achievements has Gran Tierra Energy Inc. accomplished?

Recent achievements of Gran Tierra Energy Inc. include significant advancements in exploration and increased production capacity.

Where can I find the latest news about Gran Tierra Energy Inc.?

You can find the latest news and updates about Gran Tierra Energy Inc. on the StockTitan website.
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Gran Tierra Energy

NYSE:GTE

GTE Rankings

N/A Ranked by Market Cap
N/A Ranked by Dividends

GTE Stock Data

167.24M
34.92M
2.83%
35.92%
2.05%
Oil & Gas E&P
Crude Petroleum & Natural Gas
Link
Canada
CALGARY