Gran Tierra Energy Inc. Announces Strategic Joint Venture Transaction and Partnership with Logan Energy

Nov 26, 2024•about 1 year ago

Contract Type

partnership

CalgaryOil And GasEnergy

Description

Gran Tierra Energy Inc. has achieved an exploration success in Ecuador with the seventh oil discovery in the Arawana / Zabaleta field area. Additionally, the company has entered into a purchase and sale agreement with Logan Energy Corp., wherein Logan will acquire 50% and operatorship of a portion of Gran Tierra's Simonette Montney assets for approximately C$52 million.

Company Information

Company

Gran Tierra Energy

Location

Calgary, Alberta, Canada

About

Gran Tierra Energy Inc. together with its subsidiaries is an independent international energy company currently focused on oil and natural gas exploration and production in Colombia and Ecuador. The Company is currently developing its existing portfolio of assets in Colombia and Ecuador and will continue to pursue additional new growth opportunities that would further strengthen the Company’s portfolio. The Company’s common stock trades on the NYSE American, the Toronto Stock Exchange and the London Stock Exchange under the ticker symbol GTE. Additional information concerning Gran Tierra is available at www.grantierra.com. Except to the extent expressly stated otherwise, information on the Company's website or accessible from our website or any other website is not incorporated by reference into and should not be considered part of this press release. Investor inquiries may be directed to info@grantierra.com or (403) 265-3221.

Related People

Agreement Insights

Based on industry data
Strategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
Contract momentum indicator
Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months