Gran Tierra Energy Inc. reported a net loss of $17.6 million for the second quarter of 2021, but narrowed its realized net loss by 53% relative to the prior quarter. The company's production averaged 23,035 BOPD, up 14% from the second quarter of 2020. Despite blockades affecting production, the company paid down its credit facility balance by $5 million and had a cash and cash equivalents balance of $20 million.
Achieved Second Quarter 2021 Average Total Production of 23,035 BOPD, Up 14% Year-Over-Year
Reaffirms 2021 Full-Year Production Guidance of 27,500-28,500 BOPD and Capital Program of $130-150 Million
Reaffirms 2021 Full-Year Budget Guidance: Cash Flow of $215-235 Million, Free Cash Flow of $75-95 Million, EBITDA of $265-285 Million
Forecasts Second Half 2021 Free Cash Flow of $100-120 Million
Gran Tierra expects to generate second half 2021 free cash flow of $100-120 million and is excited about the second half of 2021 and all of 2022 with a constructive oil price environment and a successful first half 2021 drilling program.
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