Gran Tierra Energy Q1 production 45,497 boepd, Simonette sale for $49M
GTE•Gran Tierra Energy reported Q1 2026 production of 45,497 boepd, sold Simonette Montney assets for $49 million, cut $133 million of debt and held $125 million cash. It signed SOCAR and Ecopetrol deals and revised 2026 guidance to target $95–115 million free cash flow on 40,000–45,000 boepd production.
1. Q1 Production and Financial Results
Gran Tierra achieved average WI production of 45,497 boepd in Q1 2026, down 2% sequentially and versus Q1 2025. The company reported a net loss of $119 million ($3.38 per share), exited the quarter with $125 million in cash and reduced debt by $133 million.
2. Strategic Partnerships and Asset Disposition
During the quarter, Gran Tierra sold its Simonette Montney working interest for $49 million, signed an Exploration, Development and Production Sharing Agreement with SOCAR and entered a strategic partnership with Ecopetrol on the Tisquirama Block.
3. Revised 2026 Guidance
The company updated its 2026 outlook assuming Brent at $83.80/bbl and WTI at $78.48/bbl, forecasting production of 40,000–45,000 boepd, capex of $130–170 million and free cash flow of $95–115 million, reflecting disciplined spending and hedging losses of $70–72 million.
