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Gran Tierra Energy Inc. Reports First Quarter 2026 Results
Achieved Total Company Average First Quarter Production of 45,497 BOEPD1Completed Disposition of Gran Tierra’s Working Interest in the Simonette Montney Block for $49 MillionSigned Exploration, Development and Production Sharing Agreement with State Oil Company of the Republic of Azerbaijan Strategic Partnership Agreement with Ecopetrol for Operations in the Tisquirama BlockStrengthened Financial Position, Exited the Quarter with $125 Million in Cash and Paid Down $133 Million of Debt and Extend
About this update from Gran Tierra Energy Inc.
CALGARY, Alberta, May 07, 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 March 31, 2026 (the “Quarter”) and provided revised 2026 guidance. All dollar amounts are in United States (“U.S.”) dollars and all reserves and 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 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 May 7, 2026. Message to Shareholders Gary Guidry, President and Chief Executive Officer of Gran Tierra, commented: “Our performance for the Quarter reflects a strong start to 2026, with production meeting expectations and capital spending below plan, demonstrating disciplined execution across the business. With the completed disposition of our Simonette assets and the successful bond exchange, we are in a stronger financial position, well-equipped to support ongoing operations and the continued deleveraging of the balance sheet. We signed an Exploration, Development and Production Sharing Agreement with the State Oil Company of the Republic of Azerbaijan (“SOCAR”) and entered into a strategic partnership with Ecopetrol that is expected to unlock operational synergies and further enhance long-term value creation. Supported by these strategic developments and the evolving market environment, our revised 2026 guidance reflects a stronger outlook for free cash flow while maintaining a disciplined approach to capital allocation. Looking forward, we remain focused on financial strength, generating free cash flow and reducing debt as we continue to deliver long-term value to shareholders.” Revised 2026 Guidance: Gran Tierra is revising its previously announced 2026 guidance to reflect changes in market conditions and portfolio composition since the Company’s initial outlook was issued in December 2025. The updated guidance incorporates the impact of the following: While higher commodity prices have improved the market backdrop since December 2025, the benefit to forecasted free cash flow has been partially offset by...
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