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Gran Tierra Energy Inc. - 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.

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 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. 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. 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. 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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Gran Tierra Energy announces exchange offers for outstanding senior notes due 2025 and 2027
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Gran Tierra Energy Inc. has satisfied all conditions precedent to the effectiveness of the Suroriente Continuation Agreement with Ecopetrol S.A., allowing the duration of the contract for the Suroriente Block to be extended for 20 years from September 1, 2023. Gran Tierra commits to a capital investment program of $123 million over a three-year period, funded by internal cash flow.
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Gran Tierra Energy Inc. announced its 2023 mid-year reserves, achieving the highest reserves in company history. They reported 94 MMBOE 1P, 150 MMBOE 2P, and 212 MMBOE 3P. The net present value before tax discounted at 10% increased to $2.2 billion (1P), $3.3 billion (2P), and $4.5 billion (3P). The net asset value per share ranges from $14.93 to $84.39 after tax.
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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 $6.52 as of December 20, 2024.

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

The market cap of Gran Tierra Energy (GTE) is approximately 234.4M.

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.

Gran Tierra Energy Inc.

NYSE:GTE

GTE Rankings

GTE Stock Data

234.44M
29.64M
3.35%
43.17%
3.22%
Oil & Gas E&P
Crude Petroleum & Natural Gas
Link
United States of America
CALGARY