Gran Tierra shareholders approve $1.33 billion sale of Colombian and Ecuador assets
Gran Tierra Energy reported third‑quarter 2026 results, posting a net loss of $42 million and average production of 39,904 boepd. The company announced a proposed sale of its Colombian and Ecuadorian businesses to Maurel & Prom for approximately $1.33 billion. Stockholders approved the transaction on October 9, and the company expects to close the deal before year‑end, subject to regulatory consents.
Why it matters
The company said the proceeds will be used to repay debt and fund a share‑repurchase program. The sale will remove the South American assets from Gran Tierra’s balance sheet, reducing future cash‑flow volatility for investors.
Key facts
- 1Shareholders approved the sale of Gran Tierra’s Colombian and Ecuadorian businesses for approximately $1.33 billion. stocktitan.net
- 2The transaction is with Maurel & Prom and remains subject to regulatory approvals, with closing targeted before year‑end. tradingview.com
- 3Gran Tierra ended the quarter with $141 million of cash. stocktitan.net
- 4Average working‑interest production for the quarter was 39,904 boepd, down 4% from the prior quarter. stocktitan.net
- 5The company incurred a net loss of $42 million, or $1.20 per basic and diluted share. stocktitan.net
- 6Adjusted EBITDA for the quarter was $68 million. finance.yahoo.com
Summary written by AlphAI AI Desk from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.