- Gran Tierra Energy (GTE) has announced Q4 2021 and year-end results
- CEO Gary Guidry sat down with Shoran Devi to discuss the company’s results
- Gran Tierra Energy is an independent energy company
- Gran Tierra Energy (GTE) opened trading at C$1.67 per share
Gran Tierra Energy (GTE) has announced Q4 2021 and year-end results.
CEO Gary Guidry sat down with Shoran Devi to discuss the company’s results.
“After the many challenges in 2020 that the world faced, 2021 was a year of strong recovery for the energy industry and Gran Tierra. Our top tier, low-decline, onshore, conventional asset base continued to prove its high quality as the company returned to strong growth in 2021 in production, reserves, funds flow from operations, free cash flow, and after-tax NAV per share.
Looking to 2022, we are very excited for our planned development drilling programs in the Middle Magdalena Valley and Putumayo Basins in Colombia and the restart of our exploration drilling program, in which we expect to include our first exploration wells in Ecuador. In the company’s high oil case for 2022 guidance, which assumes a Brent oil price of $80/bbl, we forecast that Gran Tierra could generate $100-120 million of 2022 free cash flow, which would allow us to completely pay down our bank credit facility before the end of the first half of 2022.”
Gran Tierra Energy is an independent energy company engaged in the acquisition, exploration, development, and production of oil and gas properties.
Gran Tierra Energy (GTE) opened trading at C$1.67 per share.