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Mar 31, 2021
Gran Tierra Q1 2021 Earnings Report
Reported a strong first quarter with increased production and improved financial performance.
Key Takeaways
Gran Tierra Energy Inc. announced a positive first quarter in 2021, marked by a 12% increase in production compared to the previous quarter, averaging 24,463 BOPD. With increased production during the first quarter of 2021, Gran Tierra reaffirms 2021 full-year production guidance of 28,000-30,000 BOPD. The company also revised upwards its 2021 forecasts for cash flow to $205-225 million, free cash flow of $75 million and adjusted EBITDA of $255-275 million.
Average production increased by 12% to 24,463 BOPD compared to the prior quarter.
Current average production reached 28,200 BOPD.
2021 full-year production guidance reaffirmed at 28,000-30,000 BOPD.
2021 full-year budget guidance increased for cash flow, free cash flow, and EBITDA.
Forward Guidance
Gran Tierra is revising upwards its 2021 forecasts for cash flow to $205-225 million, free cash flow of $75 million and adjusted EBITDA of $255-275 million.
Positive Outlook
- Reaffirms 2021 full-year production guidance of 28,000-30,000 BOPD.
- Increases 2021 full-year budget guidance for cash flow to $205-225 Million.
- Increases 2021 full-year budget guidance for free cash flow to $75 Million.
- Increases 2021 full-year budget guidance EBITDA of $255 - $275 Million
- Bank credit facility balance decreasing to $70-90 million by December 31, 2021.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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