Business
Gran Tierra Energy Inc. Announces New $200 Million Prepayment and Marketing Agreement and Amendment to Reserve-Based Credit Facility
CALGARY, Alberta, Oct. 24, 2025 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE)(TSX:GTE)(LSE:GTE) today announced that it has, through its wholly owned subsidiary Gran Tierra Energy Colombia GmbH, a Swiss limited liability company (the “Seller”), entered into a crude oil sale and purchase agreement and a related prepayment addendum (together, the “Oriente Crude Oil Agreements”). Under the Oriente Crude Oil Agreements, the Seller will receive an in
About this update from Gran Tierra Energy Inc.
[{"type":"image","alt":"Gran Tierra Energy Inc.","displaySize":"","headline":null,"caption":"Gran Tierra Energy Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":286,"height":92,"url":"https://media.zenfs.com/en/globenewswire.com/d6d0c5a6377dc8d25147194f29b2a5b6"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/6XM.3Hq_eqdFCkNM.oNt4A--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTEzNTtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/d6d0c5a6377dc8d25147194f29b2a5b6","width":286,"height":92}},"lazy":false},{"type":"text","content":"CALGARY, Alberta, Oct. 24, 2025 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE)(TSX:GTE)(LSE:GTE) today announced that it has, through its wholly owned subsidiary Gran Tierra Energy Colombia GmbH, a Swiss limited liability company (the “Seller”), entered into a crude oil sale and purchase agreement and a related prepayment addendum (together, the “Oriente Crude Oil Agreements”).","length":430,"tagName":"p"},{"type":"text","content":"Under the Oriente Crude Oil Agreements, the Seller will receive an initial advance in an aggregate amount not to exceed $150 million and may receive an additional advance of up to $50 million, subject to certain conditions. These advances will be satisfied by scheduled deliveries of the Seller’s Ecuadorian Oriente crude oil production. Proceeds from these prepayments are to strengthen the Company’s balance sheet and enhance financial flexibility.","length":450,"tagName":"p"},{"type":"text","content":"In connection with the execution of the Oriente Crude Oil Agreements, Gran Tierra has further optimized its capital structure by amending its Colombian credit facility (the “Amendment”). The Amendment, among other things, consents to and permits the Seller and the Company to execute and perform the Oriente Crude Oil Agreements, reduces the borrowing base under the Credit Agreement from its then-current amount of $75 million to $60 million and adjusts certain financial covenants to account for the prepayment structure.","length":523,"tagName":"p"},{"type":"text","content":"Ryan Ellson, Chief Financial Officer of Gran Tierra, commented today:","length":69,"tagName":"p"},{"type":"text","content":"“The prepayment agreement we signed today enhances Gran Tierra’s financial flexibility and further strengthens our capital structure. Secur...