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Mar 31, 2022
Gran Tierra Q1 2022 Earnings Report
Generated net income, increased adjusted EBITDA, grew net cash provided by operating activities, increased funds flow from operations, and generated free cash flow.
Key Takeaways
Gran Tierra Energy Inc. reported a net income of $14 million, a significant increase from the previous year. The company also saw substantial growth in net cash provided by operating activities, funds flow from operations, and free cash flow. They are on track to eliminate their credit facility debt before the end of Q2 2022 and are maintaining their production guidance for the year.
Achieved Average Total Production of 29,362 BOPD, Up 20% Year-on-Year
Generated Net Income of $14 Million
Increased Adjusted EBITDA to $119 Million, Up 185% Year-on-Year
Generated Free Cash Flow of $46 Million, Highest Since Fourth Quarter 2012
Revenue by Geographic Location
Forward Guidance
Gran Tierra has updated the Company's 2022 financial guidance in light of the significant increase in world oil prices this year. The Company has increased its 2022 Brent price forecast to $95/bbl. At this higher oil price, the Company would maintain 2022 capital at $220-240 million with a forecast 2022 cash flow of $410-430 million, free cash flow of $180-200 million, EBITDA of $550-570 million and a 2022 year-end cash balance of $210-230 million.
Positive Outlook
- Maintaining 2022 capital at $220-240 million.
- Forecast 2022 cash flow of $410-430 million.
- Forecast free cash flow of $180-200 million.
- Forecast EBITDA of $550-570 million.
- Forecast 2022 year-end cash balance of $210-230 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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