Highlights

  • Gran Tierra secured a USD 200 million prepayment facility to enhance liquidity.
  • Company achieved three new oil discoveries in Ecuador, completing all exploration commitments.
  • Colombia’s Cohembi Field reached its highest production level in over a decade.

Continued Exploration Success and Operational Progress

 Gran Tierra Energy Inc. (TSX:GTE) announced its financial and operational results for the quarter ended September 30, 2025, highlighting exploration achievements in Ecuador and production growth in Colombia and Canada.

President and Chief Executive Officer Gary Guidry stated, “The Third Quarter showcased continued operational success across our portfolio. In Ecuador, we achieved further exploration success with the Conejo A-1 and A-2 wells and confirmed a new discovery at Chanangue-1, all of which highlight the significant potential of our acreage position.”

Guidry added that while production was temporarily impacted by external events, such as a landslide in Ecuador and trunk line repairs at the Moqueta field, these represented deferred volumes rather than lost production. Current output is averaging approximately 45,200 boepd, with an expected exit rate of 47,000–50,000 boepd.

Ecuador: Three Discoveries Strengthen Development Pipeline

In Ecuador, the Conejo A-1 well was drilled on budget and produced at stabilized rates of 1,328 barrels of oil per day (bopd) with 26.9-degree API oil. The Conejo A-2 well, spud in October 2025, discovered 41 feet of net reservoir with 13.8% average porosity in the Hollin formation.

Additionally, a new discovery at the re-entered Chanangue-1 well delivered approximately 600 bopd, confirming new development opportunities in the eastern Chanangue Block. With these results, Gran Tierra completed all exploration commitments in Ecuador and now moves toward development phase activities.

Colombia: Cohembi and Costayaco Drive Output Growth

In Colombia, the Costayaco-63, -64, and -65 wells achieved initial 30-day oil rates between 600 and 1,100 bopd, supporting stable field performance. The Cohembi Field continued its positive waterflood response, with output in the northern area increasing by 135% to reach 6,700 gross bopd. Total Cohembi production has now exceeded 9,000 gross bopd, the highest since 2014.

Canada: Lower Montney Wells Meet Expectations

In Canada, two additional Lower Montney wells were drilled and brought onstream in September, bringing total 2025 activity to 4.0 gross (2.0 net) wells. Initial production performance has been encouraging, with one well exceeding high-case expectations.

Financial Overview and Capital Structure Updates

Gran Tierra’s total average working interest production during the Quarter was 42,685 boepd, up 30% year-over-year but down 10% from the prior quarter due to temporary shut-ins. The Company reported a net loss of USD 20 million, adjusted EBITDA of USD 69 million, and funds flow from operations of USD 42 million (USD 1.18 per share).

To enhance liquidity, the Company executed Oriente Crude Oil Agreements for an advance of up to USD 200 million and expanded its Canadian Credit Facilities from CAD 50 million to CAD 75 million, extending maturity to October 2027.

As of September 30, 2025, Gran Tierra reported USD 49 million in cash, total debt of USD 804 million, and net debt of USD 755 million.