Gran Tierra Energy Inc. exited 2025 with operational strength and enhanced financial flexibility, driven by a successful bond exchange and non-core asset sales. The company is shifting its focus to optimizing and developing its established asset base while steadily reducing debt and maximizing free cash flow, with a 2026 program centered on disciplined development.
Achieved company's best safety performance on record in 2025, with 37.2 million person-hours without a Lost Time Injury.
positiveSeventh consecutive year of South American reserves growth with over 100% reserve replacement for PDP and 2P.
positiveNet Cash Provided by Operating Activities increased 31% to $313.2 million in 2025 compared to 2024.
positiveCompleted a bond exchange with 88% participation, extending maturity profile and reducing total bond debt.
positiveNet loss of $193.1 million ($5.45 per share) in 2025, compared to a net income of $3.2 million ($0.10 per share) in 2024, including $136.3 million in non-cash ceiling test impairment losses.
negativeAdjusted EBITDA decreased 23% to $283.7 million in 2025 from $366.8 million in 2024, primarily due to a decrease in Brent oil price.
negativeFree Cash Flow was negative $78.5 million in 2025, a significant deterioration from negative $23.2 million in 2024.
negativeCanadian reserves replacement was negative due to reclassification of certain reserves to contingent resources, impacting the overall reserves picture.
attentionOperating netback per boe decreased 37% to $20.18 in 2025 from $31.99 in 2024.
negativeTotal operating expenses increased 23% in 2025, driven by higher costs in Ecuador and full-year Canadian operations.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Colombia | N/A | — | — | — |
Ecuador | N/A | — | — | — |
Canada | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Exited 2025 in a position of operational strength and enhanced financial flexibility.
Successful exchange of 9.500% Senior Secured Amortizing Notes demonstrates strong bondholder confidence.
Focus shifts to optimizing and developing assets while steadily reducing debt and maximizing free cash flow.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.