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Dec 31, 2024
Gran Tierra Q4 2024 Earnings Report
Gran Tierra's Q4 2024 earnings were announced, featuring record production and a return to net income.
Key Takeaways
Gran Tierra Energy Inc. reported a net income of $34.2 million for Q4 2024, a significant increase compared to the previous quarter. The company achieved record quarterly production of 41,009 BOEPD and demonstrated financial strength with adjusted EBITDA of $76.2 million and funds flow from operations of $44.1 million.
Achieved record fourth-quarter production of 41,009 BOEPD.
Realized net income of $34.2 million, a substantial increase from the prior quarter.
Generated adjusted EBITDA of $76.2 million and funds flow from operations of $44.1 million.
Advanced exploration drilling in Ecuador and integrated new entry into Canada.
Forward Guidance
Gran Tierra expects 2025 production of 47,000-53,000 boepd and plans to drill 6-8 exploration wells in South America in 2025
Positive Outlook
- Gran Tierra expects 2025 production of 47,000-53,000 boepd as a result of the Company’s previously forecast 2025 development drilling program of 5-7 gross wells in Suroriente, 2-3 appraisal wells in Ecuador, as well as 6 development wells in Canada.
- Gran Tierra plans to drill 6-8 exploration wells in South America in 2025.
- The first well on the Cohembi North pad spud on February 10, 2025, with production expected by the end of the first quarter of 2025.
- Gran Tierra is currently drilling the first exploration well in its 6-8 well program with the Iguana SUR-B1 exploration well which was spud on February 4, 2025.
- The development plan with our new joint venture partner, Logan Energy Corp., has commenced with the first two horizontal wells being drilled. Both wells are planned to be stimulated by the end of February and onstream by the end of the first quarter 2025.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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