Quarterly ResultMay 8, 2026, 06:09 AM
Gran Tierra Q1 Net Loss $(119.2)M; Revenue $172.1M
AI Summary
Gran Tierra Energy Inc. reported a net loss of $(119.2) million for Q1 2026, significantly wider than the $(19.3) million loss in Q1 2025, despite a slight increase in oil, natural gas, and NGL sales to $172.1 million. The increased loss was primarily driven by higher derivative instruments loss, interest expense, and general and administrative expenses. The company also completed the disposition of its Simonette Montney area in Canada for $48.6 million and entered a strategic partnership with Ecopetrol S.A. for the Tisquirama Block in Colombia.
Key Highlights
- Net loss for Q1 2026 was $(119.2) million, compared to $(19.3) million in Q1 2025.
- Oil, natural gas, and NGL sales increased to $172.1 million in Q1 2026 from $168.2 million in Q1 2025.
- Net loss per share was $(3.38) for Q1 2026, compared to $(0.54) in Q1 2025.
- Derivative instruments loss surged to $88.4 million in Q1 2026 from $1.5 million in Q1 2025.
- Interest expense rose to $49.9 million in Q1 2026 from $23.2 million in Q1 2025.
- Cash provided by operating activities increased to $172.7 million in Q1 2026 from $73.2 million in Q1 2025.
- Disposed of Simonette Montney area in Canada for $48.6 million cash consideration.
- Issued $503.6 million of 9.75% Senior Notes, exchanging $628.7 million of 9.50% Senior Notes.