Gran Tierra Energy Inc. Provides Release Date for its 2022 Fourth Quarter Results and Details of Conference Call and Webcast

Gran Tierra Energy Inc. Provides Release Date for its 2022 Fourth Quarter Results and Details of Conference Call and Webcast

Gran Tierra Energy Inc . ("Gran Tierra" or the "Company") (NYSE American:GTE) (TSX:GTE) (LSE: GTE) announces that the Company will release its 2022 fourth quarter financial and operating results on Tuesday, February 21, 2023, after market close. Gran Tierra will host its fourth quarter 2022 results conference call on Wednesday, February 22, 2023, at 9:00 a.m. Mountain Time, 11:00 a.m. Eastern Time.

Interested parties may register for the conference call by clicking on this link . Please note that there is no longer a general dial-in number to participate and each individual party must register through the provided link. Once parties have registered, they will be provided a unique PIN and call-in details. There is also a new feature that allows parties to elect to be called back through the "Call Me" function on the platform.

Interested parties can also continue to access the live webcast from their mobile or desktop devices by clicking on this link , which is also available on Gran Tierra's website at www.grantierra.com . An audio replay of the conference call will be available at the same webcast link two hours following the call and will be available until February 21, 2024.

About Gran Tierra Energy Inc.

Gran Tierra Energy Inc. together with its subsidiaries is an independent international energy company currently focused on oil and natural gas exploration and production in Colombia and Ecuador. The Company is currently developing its existing portfolio of assets in Colombia and Ecuador and will continue to pursue additional growth opportunities that would further strengthen the Company's portfolio. The Company's common stock trades on the NYSE American, the Toronto Stock Exchange and the London Stock Exchange under the ticker symbol GTE. Additional information concerning Gran Tierra is available at www.grantierra.com. Information on the Company's website does not constitute a part of this press release. Investor inquiries may be directed to info@grantierra.com or (403) 265-3221.

Gran Tierra's U.S. Securities and Exchange Commission ("SEC") filings are available on the SEC website at www.sec.gov. The Company's Canadian securities regulatory filings are available on SEDAR at www.sedar.com and UK regulatory filings are available on the National Storage Mechanism ("the NSM") website at https://data.fca.org.uk/#/nsm/nationalstoragemechanism. Gran Tierra's filings on the SEC, SEDAR and the NSM websites are not incorporated by reference into this press release.

Contact Information

For investor and media inquiries please contact:

Gary Guidry
President & Chief Executive Officer

Ryan Ellson
Executive Vice President & Chief Financial Officer

Rodger Trimble
Vice President, Investor Relations

+1-403-265-3221

info@grantierra.com


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

GTE:CA
The Conversation (0)
Gran Tierra Energy Inc. Announces 2022 Fourth Quarter & Year-End Results, Including Record Net Income, Funds Flow from Operations and Free Cash Flow

Gran Tierra Energy Inc. Announces 2022 Fourth Quarter & Year-End Results, Including Record Net Income, Funds Flow from Operations and Free Cash Flow

  • Achieved 2022 Net Income of $139 Million ( $0.38 per Share, Basic), Highest on Record
  • 2022 Funds Flow from Operations 2 Increased 96% Year-Over-Year to $366 Million, Highest on Record
  • 2022 Adjusted EBITDA 2 Increased 103% Year-Over-Year to $490 Million
  • Generated 2022 Free Cash Flow 2 of $129 Million, Highest on Record
  • Achieved 2022 Average Working Interest Production of 30,746 BOPD, Up 16% from 2021
  • Total Current Average Working Interest Production 1 of Approximately 32,300 BOPD
  • Achieved 126% 1P, 148% 2P and 280% 3P Reserves Replacement
  • 1P Net Asset Value per Share Before Tax of $4.62, Up 77% from 2021
  • 2P Net Asset Value per Share Before Tax of $7.36, Up 56% from 2021
  • ESG Leadership: Company Has Planted Approximately 1.47 Million Trees in Colombia's Putumayo Since 2018

Gran Tierra Energy Inc. ("Gran Tierra" or the "Company") (NYSE American:GTE)(TSX:GTE)(LSE:GTE) today announced the Company's financial and operating results for the fourth quarter ( "the Quarter" ) and year ended December 31, 2022. 3 All dollar amounts are in United States ( "U.S." ) dollars and all reserves and production volumes are on a working interest before royalties ( "WI" ) basis unless otherwise indicated. Production is expressed in barrels ( "bbl" ) of oil per day ( "bopd" ), while reserves are expressed in bbl, bbl of oil equivalent ( "boe" ) or million boe ( "MMBOE" ), unless otherwise indicated. Gran Tierra's 2022 year-end reserves were evaluated by the Company's independent qualified reserves evaluator McDaniel & Associates Consultants Ltd. ( "McDaniel" ) in a report with an effective date of December 31, 2022 (the "GTE McDaniel Reserves Report" ). All reserves values, future net revenue and ancillary information contained in this press release have been prepared by McDaniel and calculated in compliance with Canadian National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities ( "NI 51-101" ) and the Canadian Oil and Gas Evaluation Handbook ( "COGEH" ) and derived from the GTE McDaniel Reserves Report, unless otherwise expressly stated. The following reserves categories are discussed in this press release: Proved ( "1P" ), 1P plus Probable ( "2P" ) and 2P plus Possible ( "3P" ).

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Gran Tierra Energy Inc. Announces Strong Reserves Replacement and Continued Reserves Growth in 2022

Gran Tierra Energy Inc. Announces Strong Reserves Replacement and Continued Reserves Growth in 2022

  • Added Total Company Reserves of 14 MMBOE 1P, 17 MMBOE 2P and 31 MMBOE 3P
  • Achieved 126% 1P, 148% 2P and 280% 3P Reserves Replacement
  • Fourth Consecutive Year of 1P Reserves Growth
  • Exploration Discoveries Alone Added Company Reserves of 5 MMBOE 1P, 16 MMBOE 2P and 32 MMBOE 3P
  • Achieved Three-Year Average Per Barrel Finding and Development Costs of $11.69 PDP and $14.51 1P
  • Reserve Life Indexes of 7 (1P), 11 (2P) and 15 (3P) Years
  • Net Present Value Before Tax Discounted at 10 Percent Increased to $2.1 Billion (1P), $3.0 Billion (2P) and $4.1 Billion (3P)
  • 1P Net Asset Value per Share of $4.62 Before Tax, Up 77% from 2021
  • 2P Net Asset Value per Share of $7.36 Before Tax, Up 56% from 2021
  • Net Debt-Adjusted Production per Share Growth of 67% since 2021
  • Net Debt-Adjusted Reserves per Share Growth of 56% (1P), 57% (2P) and 69% (3P) since 2021
  • Future Net Revenue After Taxes and Capital Expenditures Forecast to be $1.4 Billion (1P), $1.7 Billion (2P) and $1.9 Billion (3P) Over the Next Five Years
  • Strong Start to 2023 with Year-to-Date Total Company Average Production of Approximately 33,000 BOPD

Gran Tierra Energy Inc. (" Gran Tierra" or the " Company ") (NYSE American:GTE) (TSX:GTE) (LSE: GTE) a company focused on international oil exploration and production with assets currently in Colombia and Ecuador, today announced the Company's 2022 year-end reserves as evaluated by the Company's independent qualified reserves evaluator McDaniel & Associates Consultants Ltd. (" McDaniel" ) in a report with an effective date of December 31, 2022 (the " GTE McDaniel Reserves Report" ).

All dollar amounts are in United States (" U.S. ") dollars and all reserves and production volumes are on a working interest before royalties ( "WI" ) basis. Production is expressed in barrels ( "bbl" ) of oil per day ( "bopd" ), while reserves are expressed in bbl, bbl of oil equivalent ( "boe" ) or million boe ( "MMBOE" ), unless otherwise indicated. All reserves values, future net revenue and ancillary information contained in this press release have been prepared by McDaniel and calculated in compliance with Canadian National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities (" NI 51-101 ") and the Canadian Oil and Gas Evaluation Handbook (" COGEH" ) and derived from the GTE McDaniel Reserves Report, unless otherwise expressly stated. The following reserves categories are discussed in this press release: Proved Developed Producing ( "PDP" ), Proved ( "1P" ), 1P plus Probable ( "2P" ) and 2P plus Possible ( "3P" ).

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Gran Tierra Energy Inc. Announces 2023 Guidance

Gran Tierra Energy Inc. Announces 2023 Guidance

  • 2023 Capital Expenditure Budget of $210-250 Million, Expected 2023 Cash Flow 1 of $270-320 Million in Base Case
  • Plan to Drill 18-23 Development Wells and 4-6 Exploration/Appraisal Wells
  • Forecast 2023 Production of 32,000-34,000 BOPD, an Increase of 8% from 2022 and 24% from 2021
  • Forecast 2023 Free Cash Flow 2 of $135 Million Before Exploration, $65 Million After Exploration in Base Case

Gran Tierra Energy Inc . ("Gran Tierra" or the "Company") (NYSE American:GTE)(TSX:GTE)(LSE:GTE) today announced its 2023 capital budget and production guidance. All dollar amounts are in United States dollars and all production volumes are on a working interest before royalties basis and are expressed in barrels ( "bbl" ) of oil per day ( "BOPD" ), unless otherwise stated.

Key Highlights:

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Gran Tierra Energy Inc. Announces Third Quarter 2022 Results

Gran Tierra Energy Inc. Announces Third Quarter 2022 Results

  • Third Quarter 2022 Average Production of 30,391 BOPD, Up 5% from One Year Ago
  • Fourth Quarter-To-Date 2022 Average Production (1 ) of 32,291 BOPD
  • Net Income of $39 Million, $168 Million Over The Last 12 Months
  • Adjusted EBITDA (2) of $121 Million, Up 48% Year-on-Year, $462 Million Over Last 12 Months
  • Net Cash Provided by Operating Activities of $109 Million, Up 82% Year-on-Year
  • Funds Flow from Operations (2) of $94 Million, Up 36% Year-on-Year, $350 Million Over Last 12 Months
  • Free Cash Flow (2 ) of $37 Million, $146 Million Over Last 12 Months
  • Cash Balance of $118 Million and Net Debt (2) of $462 Million, as of September 30, 2022
  • Colombia Exploration: Rose-1 Drilled and Undergoing Testing, Rig Mobilizing for Gaitas-2 Exploration Well
  • Ecuador Exploration: First Two Exploration Wells Drilled in Ecuador with First Well Yielding Oil and Second Well to be Tested

Gran Tierra Energy Inc . ("Gran Tierra" or the "Company") (NYSE American:GTE)(TSX:GTE)(LSE:GTE) today announced the Company's financial and operating results for the quarter ended September 30, 2022 (" the Quarter "). All dollar amounts are in United States dollars, and production amounts are on an average working interest (" WI ") before royalties basis unless otherwise indicated. Per barrel (" bbl ") and bbl per day (" BOPD ") amounts are based on WI sales before royalties. For per bbl amounts based on net after royalty (" NAR ") production, see Gran Tierra's Quarterly Report on Form 10-Q filed November 1, 2022.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Gran Tierra Energy Inc. Provides Release Date for its 2022 Third Quarter Results and Details of Conference Call and Webcast

Gran Tierra Energy Inc. Provides Release Date for its 2022 Third Quarter Results and Details of Conference Call and Webcast

Gran Tierra Energy Inc . ("Gran Tierra" or the "Company") (NYSE American:GTE)(TSX:GTE)(LSE:GTE) announces that the Company will release its 2022 third quarter financial and operating results on Tuesday, November 1, 2022, after market close. Gran Tierra will host its third quarter 2022 results conference call on Thursday, November 3, 2022, at 9:00 a.m. Mountain Time, 11:00 a.m. Eastern Time.

Interested parties may register for the conference call by clicking on this link . Please note that there is no longer a general dial-in number to participate and each individual party must register through the provided link. Once parties have registered, they will be provided a unique PIN and call-in details. There is also a new feature that allows parties to elect to be called back through the "Call Me" function on the platform.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Auric Mining (ASX:AWJ)

Auric Buys Specific Mineral Rights and Related Assets from WIN Metals for $1.2M

Auric Mining Limited (ASX: AWJ) (Auric) together with WIN Metals Ltd (ASX: WIN) (WIN Metals or WIN) are pleased to announce that the two parties have successfully executed a Binding Term Sheet on 22 July 2024 for the partial purchase of WIN’s nickel and lithium rights within the Munda Gold Project area, water access rights and other related assets, to Auric.

Keep reading...Show less
Tech grid overlaying forest.

Australian Organisations Make Case for Natural Capital Accounting in Resource Sector

Two organisations have collaborated on the release of a new suite of resources geared at helping companies in the Australian mining industry implement natural capital accounting (NCA).

The Cooperative Research Centre for Transformations in Mining Economies (CRC TiME) and CSIRO, Australia’s national science agency, announced the news in a press release on Monday (July 15).

NCA is a means of “accounting for impacts on nature over the life of projects.” Mining companies of all stages are increasingly being asked to show how they affect the environment and mitigate their impact accordingly.

Keep reading...Show less
Augustus Minerals

Investor Presentation - July 2024

Copper-Gold-Base Metals-Uranium Ti-Tree Shear Project Gascoyne Region, WA

Augustus Minerals Limited (ASX: AUG; Augustus or the Company) is pleased to present its investor presentation.


Keep reading...Show less
Augustus Minerals

$1.66M Raised to Accelerate Exploration at Ti-Tree

Augustus Minerals Limited (ASX: AUG; Augustus or the Company) is pleased to announce that it has received commitments from institutional, professional and sophisticated investors to raise $1,667,500 (Placement).

Keep reading...Show less
Queensland Pacific Metals

$8m Queensland State Government Funding

Queensland Pacific Metals Limited (ASX:QPM) (“QPM” or “the Company”) is pleased to announce the receipt of an $8m grant from the Queensland State Government.

Keep reading...Show less

Latest Press Releases

Related News

×