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Gran Tierra Energy ( (GTE) ) has issued an update.
Gran Tierra Energy has announced the acquisition of strategic assets in Ecuador’s Oriente Basin, expanding its footprint in the region. The company is purchasing interests in the Perico and Espejo Blocks from GeoPark Ecuador S.A. and Frontera Energy Colombia Corp for $15.55 million, with an additional contingent consideration based on production milestones. This acquisition aligns with Gran Tierra’s strategy to enhance its exploration success and operational synergies in Ecuador, leveraging its technical expertise and established presence in the region. The move is expected to bolster the company’s development potential and strengthen its role as a key partner in Ecuador’s energy sector.
More about Gran Tierra Energy
Gran Tierra Energy Inc. is an independent international energy company focused on oil and natural gas exploration and production in Canada, Colombia, and Ecuador. The company is actively developing its existing portfolio and seeking new growth opportunities to strengthen its assets. Gran Tierra’s common stock is traded on the NYSE American, Toronto Stock Exchange, and London Stock Exchange under the ticker symbol GTE.
See more insights into GTE stock on TipRanks’ Stock Analysis page.