Gran Tierra Energy Secures 65% Azerbaijan Stake, Sells Simonette Assets for C$62.6M
Gran Tierra Energy secured a 65% working interest and operatorship over 0.4 million gross acres in Azerbaijan’s Guba-Khazaryani region with SOCAR, launching a gravity survey this year, planning seismic and drilling in 2027. The company agreed to sell its Simonette assets in Alberta for C$62.6 million, exiting by Q1 2026.
1. Azerbaijan Exploration Partnership
Gran Tierra signed a production sharing contract with SOCAR giving it 65% working interest and operatorship over roughly 0.4 million gross acres in Guba-Khazaryani, Azerbaijan. The company plans a gravity survey this year, with seismic data acquisition and drilling slated for 2027.
2. Simonette Asset Divestiture
The company agreed to sell its remaining working interest in the Simonette asset in Alberta for C$62.6 million, with the transaction expected to close in Q1 2026. This disposal completes Gran Tierra’s exit from Simonette and strengthens its balance sheet.
3. Share Price Reaction
Shares rose 21.1% between February 13 and February 20, reflecting investor enthusiasm for the Azerbaijan entry and the Alberta asset sale. The rally positioned Gran Tierra among the top weekly gainers in the energy sector.