CALGARY, Alberta, Feb. 24, 2026 (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 2025 fourth quarter and year ended December 31, 2025, financial and operating results on Tuesday, March 3, 2026, after market close. Gran Tierra will host its conference call on Wednesday, March 4, 2026, at 9:00 a.m. Mountain Time, 11:00 a.m. Eastern Time and 4:00 p.m. Greenwich Mean Time. Interested parties may registe ...

The share price of Gran Tierra Energy Inc. (NYSE:GTE) surged by 21.1% between February 13 and February 20, 2026, putting it among the Energy Stocks that Gained the Most This Week. Here is Why Gran Tierra Energy (GTE) Gained This Week Gran Tierra Energy Inc. (NYSE:GTE) is an independent international energy company currently focused on oil and natural gas exploration and production in Canada, Colombia, and Ecuador. Gran Tierra Energy Inc. (NYSE:GTE) rallied on February 19 when the company announced that ...

Canada-based Gran Tierra Energy has entered into an agreement with the State Oil Company of the Republic of Azerbaijan (SOCAR) to explore and develop oil and natural gas in Azerbaijan’s Guba-Khazaryani region. This exploration, development and production sharing agreement (EDPSA) is pending legislative approval and other legal requirements in Azerbaijan. The agreement, signed through an indirect fully owned subsidiary, grants significant rights to Gran Tierra in an onshore petroleum area known for subst ...

Core Viewpoint - Gran Tierra Energy Inc. has signed an exploration, development, and production sharing agreement (EDPSA) with the State Oil Company of the Republic of Azerbaijan (SOCAR) for the Guba-Khazaryani region, marking a strategic entry into Azerbaijan's hydrocarbon sector [1][2]. Company Overview - Gran Tierra Energy Inc. is an independent international energy company focused on oil and natural gas exploration and production in Canada, Colombia, and Ecuador, with plans to expand its portfolio [5]. Agreement Details - The EDPSA grants Gran Tierra a 65% working interest and operatorship over approximately 0.4 million gross acres, more than double its current acreage in Ecuador [4]. - The agreement includes a five-year exploration and appraisal period, followed by a 25-year development phase for any economic discoveries, with a potential five-year extension [4]. - The exploration phase consists of an initial three-year period for a gravity study and drilling two wells, followed by a two-year phase for additional drilling and seismic acquisition [4]. Strategic Importance - Azerbaijan is recognized as a world-class petroleum region with significant oil and gas fields, providing Gran Tierra with access to established infrastructure and a supportive regulatory environment [2][4]. - The region has produced over 100 million barrels of oil and more than 200 billion cubic feet of natural gas, highlighting its potential for exploration and development [4]. - Gran Tierra aims to leverage its expertise in complex geologies to enhance exploration and development activities in Azerbaijan, aligning with its strategy for risk-mitigated, capital-efficient growth [2][4]. Future Plans - The company plans to commence an airborne gravity study in 2026, with seismic acquisition and drilling activities expected to begin in 2027, funded by forecasted net cash from operating activities [4].

Core Viewpoint - Gran Tierra Energy Inc. has entered into a purchase and sale agreement to sell its remaining working interest in the Simonette asset for a total cash consideration of C$62.5 million, effective January 1, 2026, marking the company's exit from Simonette and focusing on financial strengthening through deleveraging and capital reallocation [1] Financial Transaction - The sale of the Simonette asset will generate cash proceeds of C$62.5 million, which will be used to deleverage the company's balance sheet [1] - The transaction is expected to close in the first quarter of 2026, pending customary closing conditions [1] Strategic Focus - The divestiture aligns with Gran Tierra's strategy of portfolio optimization, emphasizing free cash flow, disciplined capital allocation, and reallocating capital towards higher-return opportunities in core operating areas [1]

Core Viewpoint - Gran Tierra Energy Inc. has announced the early participation results of its Exchange Offer to exchange its outstanding 9.500% Senior Secured Amortizing Notes due 2029 for newly issued 9.750% Senior Secured Amortizing Notes due 2031, with significant participation from eligible holders [1][2]. Group 1: Exchange Offer Details - The Exchange Offer involves exchanging US$716.34 million of Existing Notes, with US$636.74 million (approximately 88.89%) validly tendered by the Early Participation Deadline [2]. - The Company received consents from holders representing at least 66-2/3% of the Existing Notes, allowing for proposed amendments to the indenture, which will become operative upon the consummation of the Exchange Offer [3]. - The Exchange Offer will expire on February 27, 2026, unless extended or terminated earlier by the Company [7]. Group 2: Consideration and Payments - Eligible Holders who tendered Existing Notes by the Early Participation Deadline will receive a Total Consideration of US$1,000 per US$1,000 aggregate principal amount of Existing Notes, including a US$50 Early Participation Premium [5]. - The total cash consideration for all validly tendered Existing Notes is expected to be US$125 million, with each holder potentially receiving approximately US$196.31 in cash and US$803.69 in New Notes for each US$1,000 of Existing Notes tendered [6]. - The Company will not receive cash proceeds from the issuance of the New Notes, and the Existing Notes tendered will be cancelled [12]. Group 3: Amendments and Conditions - Proposed amendments include the elimination of restrictive covenants and the release of collateral securing the Existing Notes [3]. - The Company expects to accept all validly tendered Existing Notes by the Early Participation Deadline, subject to certain conditions being met, including a minimum exchange condition of 80% of Existing Notes [11]. - The definition of Accrued Interest has been amended to deduct accrued interest on the New Notes from the Early Settlement Date to the Settlement Date [9].

Core Viewpoint - Gran Tierra Energy Inc. has amended its Exchange Offer for the outstanding 9.500% Senior Notes due 2029, proposing to exchange them for newly issued 9.750% Senior Secured Amortizing Notes due 2031, with modifications to cash consideration, coupon rate, amortization schedule, and covenants [1][2]. Group 1: Exchange Offer Details - The Exchange Offer includes modifications to the Cash Consideration, an increase in the coupon rate of the New Notes to 9.750%, and the addition of a new guarantor and collateral [2]. - The Company is soliciting consents from Eligible Holders of Existing Notes to effect proposed amendments to the Existing Indenture, which would eliminate most restrictive covenants and release collateral securing the Existing Notes [3]. - The obligation to accept Existing Notes is subject to conditions including the valid receipt of consents from at least 66-2/3% of Existing Notes and the tender of at least 80% of Existing Notes [4]. Group 2: Cash Consideration and Participation - The Cash Consideration for Eligible Holders whose Existing Notes are validly tendered is set at US$125.0 million [6]. - The pro rata portion of the Cash Consideration will vary based on the total amount of Existing Notes tendered, with examples provided for different participation levels [8]. - Eligible Holders who tender after the Early Participation Deadline will receive US$950 in New Notes for each US$1,000 of Existing Notes [9]. Group 3: Interest and Settlement - Eligible Holders whose Existing Notes are accepted for exchange will receive accrued and unpaid interest from the last payment date to the Early Settlement Date or Settlement Date [10]. - Interest will cease to accrue on the Early Settlement Date or Settlement Date for all Existing Notes accepted for exchange [10]. Group 4: Additional Information - The Exchange Offer is being made only to holders who are "qualified institutional buyers" in the U.S. and non-U.S. qualified offerees outside the U.S. [13]. - The Company will not receive cash proceeds from the issuance of the New Notes, and Existing Notes surrendered will be cancelled [12].

Core Viewpoint - Gran Tierra Energy Inc. (NYSE:GTE) has experienced a significant increase in share price, driven by record production levels and positive financial guidance for the year 2025 [1][2]. Group 1: Company Performance - Gran Tierra Energy reported an average production of 48,235 barrels of oil equivalent per day (boepd) for December 2025, marking the highest monthly production in the company's history [3]. - The company estimates its total average production for Q4 2025 to be approximately 46,500 boepd and around 45,800 boepd for the full year [3]. - In Ecuador, Gran Tierra achieved a daily production rate of 10,000 barrels of oil per day (bopd) during the fourth quarter [4]. Group 2: Financial Guidance - Gran Tierra has guided for revenue between $590 million and $610 million, and adjusted EBITDA between $270 million and $290 million for the year ended December 31, 2025 [4]. Group 3: Exploration and Commitments - The company finalized all exploration commitments in Ecuador, highlighted by successful discoveries at Conejo in the Hollín and Basal Tena sands [4].

Reserves and Resources - Gran Tierra achieved over 100% reserve replacement in South America for both proved developed producing (PDP) and proved plus probable (2P) reserves in 2025[5]. - The company reported 2P reserves of 258 million barrels of oil equivalent (MMBOE) and unrisked best estimate contingent resources (2C) of 74 MMBOE in the Hoadley Glauconitic project[5]. - The reserve life index is 8 years for 1P and 15 years for 2P, indicating a strong foundation for future production[5]. - Gran Tierra's South American reserves base is supported by new discoveries and strategic acquisitions, including the Perico and Espejo blocks in Ecuador[8]. - The company reclassified certain natural gas reserves in Canada to contingent resources, resulting in a reduction of 19 MMBOE on a 1P basis and 32 MMBOE on a 2P basis[12]. - Total proved reserves amount to 141.594 million barrels of oil equivalent (Mboe), with 56.921 million barrels in light and medium crude oil and 138,256 million cubic feet (MMcf) in natural gas[22]. - The total proved plus probable reserves are estimated at 257.532 Mboe, with a reserve life index of 15 years based on a Q4 2025 average production rate of 46,513 BOEPD[25]. - The total possible reserves are estimated at 329.390 Mboe, indicating significant potential for future growth[22]. - The chance of development for the Hoadley Glauconitic Play's light and medium crude oil is estimated at 80%, with unrisked resources of 1,237 million barrels[30]. - Developed producing reserves are those expected to be recovered from completion intervals open at the time of the estimate[55]. - Developed non-producing reserves are those that have not been on production or are shut-in with an unknown date of resumption[56]. - Undeveloped reserves require significant expenditure to render them capable of production and must meet the requirements of the reserves category[57]. - Contingent resources are potentially recoverable quantities of petroleum that are not currently commercially recoverable due to contingencies[58]. - Prospective resources are estimated quantities from undiscovered accumulations, with no certainty of discovery or commercial viability[59]. - Estimates of proved, probable, and possible reserves differ under NI 51-101 and SEC rules, which may be material[68]. - The chance of development is the estimated probability that a known accumulation will be commercially developed, requiring consideration of various contingencies[69]. Financial Performance - The net present value (NPV) before tax at a 10% discount is $1.5 billion for 1P, $2.5 billion for 2P, and $3.3 billion for 3P reserves[5]. - As of December 31, 2025, Gran Tierra's net debt stands at $657 million, with a net asset value (NAV) per share of $22.63 before tax for 1P reserves[7]. - Future net revenue for the company's oil and gas properties is projected to be $18.589 billion (undiscounted) over the next five years, with after-tax future net revenue estimated at $4.334 billion[20]. - The company's total proved plus probable net present value (NPV) at a 10% discount rate is estimated at $2.283 billion after tax[25]. - Gran Tierra Energy's net debt as of December 31, 2025, is $741 million, with cash and cash equivalents of $83 million, indicating a focus on financial sustainability[45]. - NAV per share is calculated as NPV10 minus estimated net debt, divided by the number of shares outstanding[65]. Operational Strategy - Gran Tierra's focus on waterflood surveillance and optimization is expected to improve recovery and reserves realization in its core producing assets[8]. - The company plans to expand its operations in Colombia, Ecuador, and Canada, focusing on both proved and probable reserves[29]. - The company is pursuing additional growth opportunities to strengthen its portfolio, indicating a proactive approach to market expansion[1]. - Gran Tierra's forward-looking statements include expectations for production and financial performance targets for 2026 and beyond, reflecting management's strategic outlook[37]. - The company emphasizes the importance of accurate testing and production results, as well as pricing and cost estimates, in its operational planning[38]. - Gran Tierra's guidance for future performance is subject to uncertainties, particularly regarding capital spending and market conditions, which may necessitate adjustments to its strategy[42]. - The company acknowledges risks associated with its operations in South America, including political instability and market volatility, which could impact production and financial results[39]. - Gran Tierra's reserves and future net revenue estimates are based on assumptions that may not be realized, underscoring the inherent uncertainties in the oil and gas industry[50]. Development Costs - The forecasted future development costs (FDC) are estimated at $888 million for 1P reserves and $1.68 billion for 2P reserves[12]. - Future development costs (FDC) for 2P reserves decreased to $1.682 billion at year-end 2025 from $1.809 billion at year-end 2024, primarily due to capital spending in the Suroriente block[26].

Core Viewpoint - Gran Tierra Energy Inc. has reported significant operational achievements, including record production levels and successful exploration commitments in Ecuador, alongside preliminary financial estimates for 2025, indicating a strong operational performance and growth potential for the company [1][3][4]. Production Achievements - The company achieved an average production of 48,235 boepd in December 2025, marking the highest monthly average in its history [3][4]. - In Ecuador, Gran Tierra reached a daily production rate of 10,000 bopd during the fourth quarter of 2025, with current production rates around 8,800 bopd [4]. - The Conejo wells (A-1 and A-2) continue to produce approximately 2,700 bopd, with individual IP60 rates of 1,921 bopd and 1,317 bopd respectively [4]. Exploration and Development - All exploration commitments in Ecuador have been fulfilled, highlighted by successful discoveries at Conejo, contributing to a combined IP60 rate of approximately 3,238 bopd [4]. - Multiple Field Development Plans (FDPs) have been approved, including the Iguana FDP in Q1 2026 and the Chanangue FDP in Q3 2025, with additional FDPs under review [4]. - The company is advancing its waterflood development program, with a successful injectivity test completed in the Chanangue field, and plans for further injector conversions in 2026 [4]. Financial Estimates - Preliminary unaudited financial data for the year ended December 31, 2025, estimates net debt at approximately $657 million, with capital expenditures ranging from $250 million to $270 million [7]. - Estimated revenue is projected between $590 million to $610 million, with gross profit expected to be in the range of $65 million to $75 million [7]. - Adjusted EBITDA for 2025 is estimated to be between $270 million to $290 million, reflecting strong operational performance despite challenges [7]. Operational Highlights - At Cohembi North, gross production increased to approximately 9,100 bopd, driven by successful drilling and a robust waterflood program [4]. - In Canada, Gran Tierra's Simonette asset continues to show strong performance, with new wells meeting or exceeding expectations, supporting stable production and cash flow [5]. - The company plans to drill four gross development wells in Cohembi during the first half of 2026, enhancing future production capabilities [4].