Latest news with #GTNSL
Yahoo
4 days ago
- Business
- Yahoo
Gran Tierra Energy to sell North Sea subsidiary to NEO Energy
Gran Tierra Energy has agreed to divest its subsidiary, Gran Tierra North Sea Limited (GTNSL), to NEO Energy for $7.5m (C$10.26m). GTNSL holds a 100% equity interest in UKCS licence P2358, which includes the Serenity Discovery. NEO Energy is a private upstream company and a significant independent operator on the UK Continental Shelf (UKCS). The closure of the transaction is subject to standard conditions including approval from the North Sea Transition Authority regarding the change of control of GTNSL. The sale is due to be finalised in the third quarter of 2025 (Q3 2025). Gran Tierra Energy, together with its subsidiaries, is currently focused on oil and natural gas exploration and production in Canada, Colombia and Ecuador. The company said it will continue to pursue further new growth opportunities to strengthen its portfolio. Earlier this year, Gran Tierra Energy outlined its 2025 capital budget and production guidance, projecting capital expenditures of between $240m and $280m. The company also expects cash flow from operating activities to range from $260m to $300m for 2025. In May, Gran Tierra's total average working interest (WI) production reached 46,647 barrels of oil equivalent per day (boepd), a 14% increase from Q4 2024 and a 45% increase compared with Q1 2024. However, the company reported a net loss of $19m, an improvement from $34m posted in the previous quarter and a break-even result in Q1 2024. Last year, Gran Tierra Energy made headlines with a new oil discovery at the Charapa-B7 well in Ecuador. This discovery is part of a series of successful explorations in the country, including the Charapa-B5, Charapa-B6, Bocachico-J1, Bocachico Norte-J1 and Arawana-J1 wells, contributing to cumulative production of one million barrels since 2022. "Gran Tierra Energy to sell North Sea subsidiary to NEO Energy" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Business
- Yahoo
Gran Tierra Energy Announces Sale of Gran Tierra North Sea Limited
CALGARY, Alberta , June 04, 2025 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. ('Gran Tierra' or the 'Company') (NYSE American:GTE) (TSX:GTE) (LSE:GTE) today announced that a wholly owned subsidiary of the Company has signed an agreement to sell its wholly owned subsidiary, Gran Tierra North Sea Limited ('GTNSL'), to NEO Energy for total consideration of US$7.5 Million. NEO Energy is a private upstream company and a leading independent operator in the United Kingdom Continental Shelf. GTNSL holds a 100% equity interest in UKCS licence P2358 which includes the Serenity Discovery. Completion of the transaction is subject to certain customary conditions precedent, including consent from the North Sea Transition Authority in respect of the change of control of GTNSL. The transaction is expected to close sometime in the third quarter of 2025. 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 Canada, Colombia and Ecuador. The Company is currently developing its existing portfolio of assets in Canada, Colombia and Ecuador and will continue to pursue additional new 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 Except to the extent expressly stated otherwise, information on the Company's website or accessible from our website or any other website is not incorporated by reference into and should not be considered part of this press release. Investor inquiries may be directed to info@ or (403) 265-3221. Gran Tierra's filings with the U.S. Securities and Exchange Commission (the 'SEC') are available on the SEC website at The Company's Canadian securities regulatory filings are available on SEDAR+ at and UK regulatory filings are available on the National Storage Mechanism website at Contact Information For investor and media inquiries please contact: Gary GuidryPresident & Chief Executive Officer Ryan EllsonExecutive Vice President & Chief Financial Officer +1-403-265-3221 info@ Forward Looking Statements and Legal Advisories: This press release contains statements about future events that constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and financial outlook and forward looking information within the meaning of applicable Canadian securities laws (collectively, 'forward-looking statements'). All statements other than statements of historical facts included in this press release, including those statements preceded by, followed by or that otherwise include the words 'expect,' 'plan,' 'can,' 'will,' 'should,' and 'believes,' derivations thereof and similar terms identify forward-looking statements. Among the important factors that could cause our actual results to differ materially from the forward-looking statements in this press release include, but are not limited to the risk factors detailed from time to time in Gran Tierra's periodic reports filed with the Securities and Exchange Commission, including, without limitation, under the caption 'Risk Factors' in Gran Tierra's Annual Report on Form 10-K for the year ended December 31, 2024 filed February 24, 2025 and its other filings with the SEC. These filings are available on the SEC website at and on SEDAR+ at All forward-looking statements are made as of the date of this press release and the fact that this press release remains available does not constitute a representation by Gran Tierra that Gran Tierra believes these forward-looking statements continue to be true as of any subsequent date. Gran Tierra disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Business
- Yahoo
Gran Tierra Energy Announces Sale of Gran Tierra North Sea Limited
CALGARY, Alberta , June 04, 2025 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. ('Gran Tierra' or the 'Company') (NYSE American:GTE) (TSX:GTE) (LSE:GTE) today announced that a wholly owned subsidiary of the Company has signed an agreement to sell its wholly owned subsidiary, Gran Tierra North Sea Limited ('GTNSL'), to NEO Energy for total consideration of US$7.5 Million. NEO Energy is a private upstream company and a leading independent operator in the United Kingdom Continental Shelf. GTNSL holds a 100% equity interest in UKCS licence P2358 which includes the Serenity Discovery. Completion of the transaction is subject to certain customary conditions precedent, including consent from the North Sea Transition Authority in respect of the change of control of GTNSL. The transaction is expected to close sometime in the third quarter of 2025. 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 Canada, Colombia and Ecuador. The Company is currently developing its existing portfolio of assets in Canada, Colombia and Ecuador and will continue to pursue additional new 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 Except to the extent expressly stated otherwise, information on the Company's website or accessible from our website or any other website is not incorporated by reference into and should not be considered part of this press release. Investor inquiries may be directed to info@ or (403) 265-3221. Gran Tierra's filings with the U.S. Securities and Exchange Commission (the 'SEC') are available on the SEC website at The Company's Canadian securities regulatory filings are available on SEDAR+ at and UK regulatory filings are available on the National Storage Mechanism website at Contact Information For investor and media inquiries please contact: Gary GuidryPresident & Chief Executive Officer Ryan EllsonExecutive Vice President & Chief Financial Officer +1-403-265-3221 info@ Forward Looking Statements and Legal Advisories: This press release contains statements about future events that constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and financial outlook and forward looking information within the meaning of applicable Canadian securities laws (collectively, 'forward-looking statements'). All statements other than statements of historical facts included in this press release, including those statements preceded by, followed by or that otherwise include the words 'expect,' 'plan,' 'can,' 'will,' 'should,' and 'believes,' derivations thereof and similar terms identify forward-looking statements. Among the important factors that could cause our actual results to differ materially from the forward-looking statements in this press release include, but are not limited to the risk factors detailed from time to time in Gran Tierra's periodic reports filed with the Securities and Exchange Commission, including, without limitation, under the caption 'Risk Factors' in Gran Tierra's Annual Report on Form 10-K for the year ended December 31, 2024 filed February 24, 2025 and its other filings with the SEC. These filings are available on the SEC website at and on SEDAR+ at All forward-looking statements are made as of the date of this press release and the fact that this press release remains available does not constitute a representation by Gran Tierra that Gran Tierra believes these forward-looking statements continue to be true as of any subsequent date. Gran Tierra disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable in to access your portfolio
