Gran Tierra Energy Stock Earnings Reports

Gran Tierra Energy delivered a disciplined start to 2026 with production of ~45.5 mboe/d in Q1, roughly flat year-over-year and slightly below Q4 2025. The company strengthened its balance sheet during the quarter (exited Q1 with $125 million cash, net debt of $481 million) following the Simonette disposition and a senior note exchange/repurchases. Q1 results included a net loss of $119 million driven largely by non-cash items (unrealized hedging losses, equity compensation remeasurement) and some nonrecurring charges; adjusted EBITDA was $74 million and funds flow from operations was $43 million. Gran Tierra revised 2026 guidance to reflect portfolio changes and market moves: at an ~$84 Brent average, they expect production of 40–45 mboe/d, EBITDA of $345–395 million, free cash flow of $95–115 million, and capex of $130–170 million. Key strategic moves: signed an exploration/appraisal agreement in Azerbaijan (65% WI over ~400k gross acres) and entered a partnership with Ecopetrol to earn 49% WI in Colombia’s Tiscorama block — both expected to enhance long-term growth and synergies with existing Acordionero operations. Operationally, waterflood programs in Ecuador (Tenanke, Iguana, Perico) have started or are imminent and are expected to lift oil and reduce water disposal costs; Cohembi drilling was ~18% under budget. Hedging: oil hedges average ~$76 ceiling for 2026; AECO gas swaps of ~15.6k GJ/day at ~$2.71/GJ. Management remains focused on free cash flow generation, debt reduction, capital discipline, and selectively adding hedges; they would allocate incremental gas capital in Canada only when AECO prices sustainably exceed ~$3/GJ.