Gran Tierra Energy Reports Record Production, Strengthens Financial Position in Q1 2025

Gran Tierra Energy Inc. reported record average quarterly production of approximately 46,647 barrels of oil equivalent per day for Q1 2025, marking a 14% increase from the previous quarter and a 45% year-over-year rise. The company achieved successful exploration results, including two new oil discoveries in Ecuador’s Iguana Block and efficient drilling operations in Colombia, with all wells completed under budget and ahead of schedule. In Canada, new wells outperformed previous benchmarks, contributing to the company's production growth. Financially, Gran Tierra faced a net loss of $19 million but maintained strong liquidity, reduced debt by $27 million, and secured a new $75 million credit facility. Despite lower oil prices impacting funds flow from operations, the company increased oil sales and improved operational efficiency, as reflected in rising sales revenue and lower per-barrel expenses. These developments underscore Gran Tierra's ongoing focus on operational excellence, financial discipline, and strategic growth across its core regions.