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Gran Tierra Energy Inc - GTE STOCK NEWS

Welcome to our dedicated news page for Gran Tierra Energy (Ticker: GTE), a resource for investors and traders seeking the latest updates and insights on Gran Tierra Energy.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Gran Tierra Energy's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Gran Tierra Energy's position in the market.

Rhea-AI Summary
Gran Tierra Energy Inc. announces an exemption order from Canadian securities regulators allowing the purchase of up to 10% of its public float of common stock through U.S. Markets as part of normal course issuer bids.
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Gran Tierra Energy Inc. reported a 2023 net loss of $6 million, with positive financial and operational highlights including meeting production guidance, reserves growth, and strong safety performance. The company achieved $399 million in adjusted EBITDA, $277 million in funds flow from operations, and $58 million in free cash flow. Gran Tierra also repurchased 6.8% of outstanding shares, emphasizing commitment to long-term shareholder value creation.
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Rhea-AI Summary
Gran Tierra Energy Inc. announces the release of its fourth quarter and year-end financial results on February 20, 2024. The company will host a conference call to discuss the results, providing unique PINs for registered participants.
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-4.73%
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earnings
Rhea-AI Summary
Gran Tierra Energy Inc. has completed an offering of additional $100 million aggregate principal amount of its 9.500% Senior Secured Amortizing Notes due 2029. The Notes have the same terms and provisions as the Original Notes, except for the issue price, and form the same series as the Original Notes, including with respect to interest payments. The Notes are expected to trade under the same CUSIP number as the Original Notes. The company intends to use the net proceeds from the offering to repay the outstanding amounts borrowed under its existing credit facility and for general corporate purposes. The Notes will not be registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.
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Rhea-AI Summary
Gran Tierra Energy Inc. announced the pricing of an additional $100 million aggregate principal amount of its previously issued 9.500% Senior Secured Amortizing Notes due 2029. The Notes will have the same terms and provisions as the Original Notes, except for the issue price, and will form the same series as the Original Notes, including with respect to interest payments. Gran Tierra expects to receive net proceeds of approximately $88.3 million from the offering, which will be used to repay outstanding amounts borrowed under its existing credit facility and for general corporate purposes, including additional capital to appraise and develop exploration discoveries, repayment of other indebtedness, working capital, and/or acquisitions.
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Gran Tierra Energy Inc. plans to offer an additional amount of its previously issued 9.500% Senior Secured Amortizing Notes due 2029 in a private placement. The Notes will have the same terms and provisions as the Original Notes, with the net proceeds intended for repaying outstanding amounts borrowed under its existing credit facility and general corporate purposes. The offering will be made to qualified institutional buyers in the United States, non-U.S. persons outside the United States, and pursuant to certain prospectus exemptions in Canada.
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-2.51%
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Rhea-AI Summary
Gran Tierra Energy Inc. announced its 2024 capital budget and production guidance, forecasting a 4% increase in production from 2023, a 11% increase from 2022, and a 28% increase from 2021. The company plans to drill 13-17 development wells and 6-9 high impact near-field exploration wells. The 2024 capital budget ranges from $210-240 million, with expected cash flow of $280-320 million. The company also aims to allocate up to 50% of free cash flow to share buybacks.
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Gran Tierra Energy Inc. achieved record reserves of 90 MMBOE 1P, 147 MMBOE 2P, and 207 MMBOE 3P, with a 154% 1P, 242% 2P, and 303% 3P reserves replacement, and achieved a 288% increase in net asset values per share before tax. The company also reported F&D costs per boe of $11.96 (1P), $7.58 (2P), and $6.06 (3P) and a net present value before tax discounted at 10% of $1.9 billion (1P), $3.1 billion (2P), and $4.3 billion (3P).
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4.66%
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Rhea-AI Summary
Gran Tierra Energy Inc. has received approval from the Toronto Stock Exchange to initiate a normal course issuer bid (NCIB) for its common stock. The bid allows the company to purchase up to 3,234,914 shares, representing 10% of the public float, over a one-year period. Gran Tierra has also implemented an Automatic Share Purchase Plan (ASPP) to facilitate purchases during regulatory restrictions and blackout periods. The brokerage firm Eight Capital will administer the ASPP. The company believes that the purchase of shares will increase their value and reflect Gran Tierra's current operations, growth prospects, and financial position.
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6.37%
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Gran Tierra Energy Inc. reported its financial and operating results for Q3 2023. Total average WI production increased by 12% compared to one year ago, reaching 33,940 BOPD, the highest quarterly average since Q2 2019. Net income for the quarter was $7 million, compared to a net loss of $11 million in the prior quarter. Adjusted EBITDA was $119 million, up from $97 million in the prior quarter. The company also announced the issuance of new senior secured amortizing notes, improving its balance sheet and reducing overall leverage.
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6.37%
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Gran Tierra Energy Inc

NYSE:GTE

GTE Rankings

GTE Stock Data

172.48M
30.16M
2.88%
33.25%
2.02%
Crude Petroleum and Natural Gas Extraction
Mining, Quarrying, and Oil and Gas Extraction
Link
Canada
Calgary

About GTE

gran tierra energy is an independent international energy company engaged in oil and gas acquisition, exploration, development and production. we are strategically focused on onshore oil and gas properties in colombia. headquartered in calgary, canada we are publically listed on the new york stock exchange and the toronto stock exchange under the ticker symbols gte. our strategic approach is focused on growth and value creation, re-positioning ourselves for future success as the preeminent independent producer in colombia. gran tierra believes in partnering with the communities in which it operates, and the company is intensely proud of its shared value, sustainable community and social responsibility programs. gran tierra energy es una compañía de energía internacional independiente dedicada a la adquisición, exploración, desarrollo y producción de petróleo y gas. estamos enfocados estratégicamente en propiedades on-shore de petróleo y gas en colombia. con sede en calgary, canadá, cot