Gran Tierra expects 2026 capital expenditures to be within previously stated guidance
Company hedging about 52% of oil production for H2 2026 with floors near $60 per bbl
Gran Tierra plans drilling activity at Dawson Clearwater and Mount Head in 2027
Overview
Canada oil and gas producer's Q2 production fell 12% yr/yr due to asset sales, lower Colombia output
Net income turned positive to $25 mln from a loss a year earlier
Company completed Suroriente capital carry, improving profitability, and sold Lodgepole assets for C$12.8 mln
Result drivers
Higher oil prices - Co said improved margins and cash generation were driven by stronger commodity prices
Lower operating costs - Co attributed reduced total operating costs to lower workover activity, reduced personnel costs, and lower oil treatment and testing service costs
Asset sales impact - Co said production decline was due in part to the sale of Simonette and Lodgepole assets, while profitability improved from derecognition of asset retirement obligations
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the oil & gas exploration and production peer group is "buy"
Wall Street's median 12-month price target for Gran Tierra Energy Inc is C$12.00, about 24.1% above its August 4 closing price of C$9.67
GTE•
