Financial Performance - Gran Tierra achieved $1 million in net income and generated $60 million in funds flow from operations, an increase of 31% from the prior quarter[1]. - Gran Tierra's net income for the quarter was $1.13 million, down from $6.53 million in the prior quarter[18]. - Net income for the three months ended September 30, 2024, was $1,133, compared to $6,527 for the same period in 2023, indicating a decline of approximately 83.7%[26]. - EBITDA for the three months ended September 30, 2024, was $97.365 million, down 15.6% from $115.382 million in the same period of 2023[28]. - Adjusted EBITDA for the quarter was $93 million, compared to $103 million in the prior quarter[14]. - Adjusted EBITDA for the three months ended September 30, 2024, was $92.794 million, a decrease of 22.2% from $119.235 million in the same period of 2023[28]. - Gran Tierra generated oil sales of $151 million, down 16% from Q3 2023, primarily due to weaker Brent pricing and 4% lower sales volumes[16]. - Free cash flow for the three months ended September 30, 2024, was $7.417 million, down 79.3% from $35.920 million in the same period of 2023[29]. - The company reported free cash flow of $7,417, a significant decrease from $35,920 in the prior quarter[18]. - Cash netback for the three months ended September 30, 2024, was $60,338, down from $79,000 in the same period of 2023, representing a decrease of approximately 23.6%[27]. - Cash netback per bbl was $20.34, an increase from $15.85 in the prior quarter, but a decrease from $25.48 a year ago[17]. - Gran Tierra's return on average capital employed was 17% during the quarter and 16% over the trailing 12 months[15]. - Gran Tierra's return on average capital employed for the three months ended September 30, 2024, was 17%, compared to 16% for the previous period[26]. Production and Operations - Total average working interest production for Q3 2024 was 32,764 BOPD, consistent with the prior quarter[13]. - The company successfully drilled its sixth consecutive oil discovery in Ecuador, achieving cumulative production of over 1 million barrels of oil[8]. - The acquisition of i3 Energy added 253 net booked drilling locations and increased Gran Tierra's PDP reserves by 42 million bbls of oil equivalent, a 96% increase[2]. - The company plans to drill 19 gross wells in Q4 2024, targeting core operating areas in Canada[5]. - Acordionero water treatment facilities expansion is expected to increase water handling capacity by 21,500 bbls per day, a 35% increase[12]. Expenses and Liabilities - Capital expenditures for the quarter were $53 million, lower than the $61 million in the prior quarter but up from $43 million in Q3 2023[15]. - Operating expenses decreased by 2% to $46 million compared to the prior quarter, and by 7% from Q3 2023, mainly due to lower lifting costs[16]. - Transportation expenses decreased by 31% to $4 million compared to the prior quarter, but increased by 2% from Q3 2023[16]. - General and administrative expenses before stock-based compensation were $3.20 per bbl, down from $3.77 in the prior quarter[16]. - Interest expense for the three months ended September 30, 2024, was $19.892 million, an increase of 47.9% compared to $13.503 million in the same period of 2023[28]. - DD&A expenses for the three months ended September 30, 2024, were $55.573 million, slightly up from $55.019 million in the same period of 2023[28]. - Gran Tierra exited the quarter with $278 million in cash and total debt of $787 million, resulting in net debt of $509 million[14]. - Net debt as of September 30, 2024, was $509 million, calculated from total debt of $787 million minus cash and cash equivalents of $278 million[30]. Future Outlook and Risks - Gran Tierra continues to pursue additional growth opportunities to strengthen its portfolio in Canada, Colombia, and Ecuador[21]. - The company plans to continue its drilling program and capital expenditures while monitoring commodity prices, including future gas pricing in Canada[22]. - Gran Tierra's financial outlook is subject to various risks, including geopolitical events and changes in commodity prices, which may impact operational performance[23]. - Gran Tierra's acquisition of i3 Energy is expected to provide anticipated benefits and operating synergies, although specific financial guidance for 2024 is no longer applicable on a combined company basis[23]. Non-GAAP Measures - The company emphasizes that non-GAAP measures, such as operating netback and cash netback, are useful for analyzing financial performance and should not be viewed as alternatives to GAAP measures[24]. - The company's operating netback was $34.18 per bbl, down 12% from the prior quarter and down 16% from Q3 2023[16]. - Average realized price per bbl was $51.03, down from $58.03 in the prior quarter[19].

Core Viewpoint - Gran Tierra Energy Inc. has received approval from the Toronto Stock Exchange to initiate a normal course issuer bid to repurchase up to 3,545,872 shares, representing 10% of its public float, over a one-year period starting November 6, 2024 [1][7]. Group 1: Share Repurchase Details - As of October 31, 2024, Gran Tierra had 36,460,141 shares issued and outstanding, with a public float of 35,458,717 shares [1]. - The company may purchase up to 9,829 shares on any trading day, which is approximately 25% of the average daily trading volume of 39,317 shares on the TSX over the past six months [2]. - Gran Tierra has previously repurchased 2,703,914 shares at a volume-weighted average price of CDN$9.34 under a prior issuer bid that expired on November 2, 2024 [4]. Group 2: Management's Rationale - Management believes that the shares have been trading below their intrinsic value relative to the company's operations, growth prospects, and financial position, making the repurchase advantageous for stockholders [3]. - The repurchase may also serve to satisfy awards under Gran Tierra's Long Term Equity Incentive Plan, potentially increasing the value of the shares for existing shareholders [3]. Group 3: Automatic Share Purchase Plan (ASPP) - Gran Tierra has established an Automatic Share Purchase Plan to facilitate share purchases during periods when it would typically be restricted from doing so due to regulatory constraints [5][6]. - The ASPP will be implemented on November 6, 2024, and allows the designated broker to make purchases at its discretion based on parameters set by Gran Tierra [5]. Group 4: Regulatory Exemptions - Gran Tierra has received an exemptive relief order from Canadian securities regulators, allowing it to purchase up to 10% of its public float through U.S. trading platforms without the usual 5% limitation [7]. - This exemption is valid until February 12, 2027, provided that purchases comply with applicable U.S. and Canadian securities laws [7]. Group 5: 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 [8]. - The company aims to develop its existing asset portfolio while pursuing additional growth opportunities [8].

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. Message to Shareholders "We are pleased to announce that Gran Tierra has successfully made another oil discovery wi ...

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. Message to Shareholders Gary Guidry, President and Chief Executive Officer of Gran Tierra, commented: "We are thr ...

High Impact Exploration Program Continues to Deliver Exciting Catalysts for Growth with the Completion of the Charapa 3D Seismic Program Along with Drilling of the Bocachico Norte-J1 and Charapa B6 Wells Arawana-J1 and Bocachico-J1 Wells Continue to Yield Strong Production Results and Continued Positive Exploration Results with Bocachico Norte-J1 Second Quarter 2024 Total Average WI Production of 32,776 BOPD, a 4% Increase in Production per Share from Second Quarter 2023 Since January 1, 2023, Gran Tierra h ...

Gran Tierra's U.S. Securities and Exchange Commission ("SEC") filings are available on the SEC website at www.sec.gov. The Company's Canadian securities regulatory filings are available on SEDAR+ at http://www.sedarplus.ca and UK regulatory filings are available on the National Storage Mechanism ("the NSM") website at https://data.fca.org.uk/#/nsm/nationalstoragemechanism. Gran Tierra's filings on the SEC, SEDAR+ and the NSM websites are not incorporated by reference into this press release. About Gran Tier ...

I A Nearly 100% YTD return, but only following a 90% drawdown The reality is that both charts tell us something. The long-term chart tells us Gran Tierra Energy has been a dismal investment for anyone who has bought and held over long periods of time. But the YTD chart tells us that something may have changed and it may be time to investigate further. I've spent the last year studying this company, trying to understand if investors are correct in being so pessimistic, or if investors are simply ignoring the ...

Finding discounted opportunities greatly increases portfolio profits in the constantly changing world of stock investing. Here are the top three sleeper stocks. These three companies are steadily gaining ground and have the potential to develop significantly but most investors still need to discover them. Understanding the fundamentals of these sleeper stocks is important since they can yield significant profits before gaining market traction. These companies are vital due to their creative digital advertis ...

CALGARY, Alberta, May 28, 2024 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. ("Gran Tierra" or the "Company") (NYSE American:GTE) (TSX:GTE) (LSE:GTE) today announced an operational update. All dollar amounts are in United States dollars, and 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. Message to Shareholders Gary Guidry, President and Chief Exec ...

bjdlzx Gran Tierra Energy (NYSE:GTE) is a company that has joined my list of companies that are reducing their debt in an effort to gain market acceptance of the balance sheet. This company did a reverse stock split in 2023. The reverse stock split was followed by a bond exchange to give the company time to build cash flow (particularly free cash flow). The debt exchange has resulted in higher interest expense. But it also gives the company time to convince the market that management is serious about the tu ...