From GlobeNewswire: 2025-05-01 18:25:00

Gran Tierra Energy Inc. achieved a record total company average quarterly production of 46,647 boepd. Additional oil discoveries were made in the Iguana Block in Ecuador. The company exited the quarter with $77 million in cash and paid down $27 million of debt. A new $75 million credit facility was secured for additional liquidity.

Gary Guidry, President and CEO, highlighted strong operational execution and financial management in the first quarter. Production is currently at approximately 48,400 boe/d, with a focus on lowering leverage and investing in high-return projects. Exploration efforts in Ecuador and Colombia continue to yield successful results.

In Ecuador, Gran Tierra drilled two new oil discoveries with an average oil production rate of 1,684 bopd. In Colombia, the company successfully drilled three wells during the quarter. Operations in Canada also saw success with two Lower Montney wells coming on stream with impressive production rates.

Key highlights of the quarter include total average production of 46,647 boepd, a net loss of $19 million, and adjusted EBITDA of $85 million. The company had a cash balance of $77 million as of March 31, 2025, and secured an additional $75 million credit facility. Share buybacks and capital expenditures were also notable during the quarter.

Gran Tierra reconfirmed its 2025 consolidated guidance, with a base case Brent oil price of $75/barrel and production estimates between 47,000-53,000 boepd. Operating netback and EBITDA projections were also provided for different scenarios.

Financial and operational highlights for the quarter were detailed, including net income, oil sales, operating expenses, and transportation expenses. Non-GAAP measures such as EBITDA, adjusted EBITDA, funds flow from operations, and free cash flow were also outlined.

Gran Tierra will host a conference call on May 2, 2025, to discuss first-quarter results. The company also published its 2024 Sustainability Report and updated its Corporate Presentation. For investor and media inquiries, contact Gary Guidry or Ryan Ellson at +1-403-265-3221 or [email protected].



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