Gran Tierra Energy agrees to sell Colombia, Ecuador oil business to Maurel & Prom for USD 1.33 billion

Reuters2026/08/05 05:47

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Gran Tierra agreed to sell its Colombia and Ecuador oil business to Maurel & Prom for total consideration of USD 1.33 billion.
Consideration includes Maurel & Prom assuming Gran Tierra’s 9.750% Senior Secured Amortizing Notes due 2031, 9.500% Senior Notes due 2029, and the prepayment facility.
Gran Tierra expects about USD 315 million net cash proceeds; about USD 250 million at closing, USD 65 million due 364 days later.
Closing targeted around Dec. 31, 2026, with an economic effective date of March 31, 2026.
Gran Tierra expects to be debt-free at completion; plans include a share repurchase and funding growth in Canada and Azerbaijan.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Gran Tierra Energy Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202608050147OMX_____CNEWS_EN_GNW9804090_en) on August 05, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Gran Tierra Energy agrees to sell Colombia, Ecuador oil business to Maurel & Prom for USD 1.33 billion

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