REG-Gran Tierra Energy Inc. Reports Third Quarter 2026 Results
Key Highlights
- ➤$1.33B sale of Colombian and Ecuadorian businesses agreed with Maurel & Prom
- ➤$42M net loss, or $1.20 per share, versus $25M prior-quarter profit
- ➤39,904 BOEPD production, down 4% quarter over quarter and 7% year over year
- ➤$141M cash plus approximately $53M undrawn Canadian credit availability
- ➤Azerbaijan EDPSA ratified by Parliament, advancing Guba-Khazaryani development
Expert Statements
Gary Guidry, President and Chief Executive Officer of Gran Tierra Energy
“During the Quarter, we announced the sale of our Colombia and Ecuador businesses, received noteholder consent required to amend one of our indentures and subsequent to Quarter end, we received shareholder approval to proceed with the sale. Also subsequent to Quarter end, our Exploration, Development and Production Sharing Agreement (“EDPSA”) in Azerbaijan was ratified by Parliament (the Milli Majlis). With $141 million of cash at quarter-end, we are well positioned as we work through the remaining approvals and conditions to closing, including regulatory approvals in Colombia and Ecuador. On closing, we expect to be debt-free, with the flexibility to return capital to stockholders and build our businesses in Canada and Azerbaijan. During the Quarter, operationally, production was down from the second quarter primarily as a result of lower production in Colombia, partly due to a contractual reduction in our working interest production at higher oil prices in the Suroriente Block, and the asset sale in Canada. Financially, compared to the second quarter, lower realized prices in South America reduced cash flow by approximately $17 million, net of lower royalties. Brent decreased by $5.39 per bbl and quality and transportation discounts increased by $5.52 per bbl, reflecting wider differentials and the cost of alternative transportation routes while the Ecuador and Colombia border remains closed. While pricing impacted cash flow, the assets across the portfolio continue to perform well.”
* Delivered Total Company Average Third Quarter WI Production of 39,904 BOEPD, Including 12,852 BOEPD in Canada * Ended the Quarter with $141 Million of Cash and Approximately $53 Million of Undrawn Credit Facility Availability * Announced the Formal Ratification of its Exploration, Development and Production Sharing Agreement with SOCAR in Azerbaijan * Obtained Requisite Consent for Amendments to the Indenture Governing its 9.75% Senior Secured Amortizing Notes due 2031 * Received Stockholder Approval for the Sale of Colombian and Ecuadorian Businesses CALGARY, Alberta, Nov. 05, 2026 (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, 2026 (the “Quarter”). All dollar amounts are in United States (“U.S.”) dollars and all production volumes are on an average working interest (“WI”) before royalties basis unless otherwise indicated. Production is expressed in barrels (“bbl”) of oil equivalent (“boe”) per day (“boepd” or “boe/d”), and per boe amounts are based on WI sales before royalties. For per boe amounts based on net after royalty (“NAR”) production, see Gran Tierra’s Quarterly Report on Form 10-Q filed November 5, 2026.
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