Gran Tierra Energy ( (GTE) ) has issued an update.
Gran Tierra Energy Inc. reported record fourth-quarter production and financial results for 2024, highlighted by an increase in average working interest production to 34,710 barrels of oil equivalent per day, a 6% rise from 2023. The company’s reserves reached historic highs, with significant growth in 1P, 2P, and 3P reserves. The financial performance included a net income of $3 million and an adjusted EBITDA of $367 million. The company also announced successful share repurchase efforts and laid out ambitious exploration and development plans for 2025, focusing on high-impact drilling in Ecuador and Canada, signaling a strategic shift toward unlocking new reserves and enhancing shareholder value.
More about Gran Tierra Energy
Gran Tierra Energy Inc. operates in the oil and gas industry, focusing on exploration and production activities. The company primarily produces oil and natural gas and has operations in various regions, including Ecuador, Colombia, and Canada.
YTD Price Performance: -24.70%
Average Trading Volume: 349,397
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $206.7M
For an in-depth examination of GTE stock, go to TipRanks’ Stock Analysis page.