Gran Tierra Q1 net loss $10M, production up 8% to 31,611 BOPD; Suroriente deal extended 20 years

GRAN TIERRA ENERGY INC.

2023-Q1 EPS reported -$0.03 revenue$144,190,000

Net loss of $10M ($0.03 per share) vs net income of $14M a year ago; oil sales down 17% to $144M.
Average production 31,611 BOPD (+8% YoY); Q2-to-date production ~32,400 BOPD.
Adjusted EBITDA $89M, down from $119M YoY; funds flow from operations $60M (-31% YoY).
Bought back 13.1M shares for $10.7M (~$0.82/share); repurchased $8M face value of 6.25% senior notes at 15% discount.
New 20-yr Suroriente block agreement with Ecopetrol; $123M capital commitment over 3 years; exploration drilling H2 2023.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GRAN TIERRA ENERGY INC. reported financial results for the quarter ended March 31, 2023.

Period: the quarter ended March 31, 2023
Result: reported results

Exact text from the filing

On May 2, 2023 , Gran Tierra Energy Inc. issued a press release announcing its financial and operating results for the quarter ended March 31, 2023.

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GRAN TIERRA ENERGY INC. filing history →

Source: SEC EDGAR

accession 0001273441-23-000014

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