Gran Tierra Energy, IncNYSEMKT
Wed, Nov. 30, 9:23 AM
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Tue, Nov. 22, 9:17 AM
Mon, Nov. 21, 6:15 PM
- Gran Tierra Energy (NYSEMKT:GTE) -5.3% AH after announcing plans to sell more than 43.3M shares on a bought deal basis at $3/share, with an underwriters option to purchase up to another 6.5M-plus common shares; if the over-allotment option is exercised in full, gross proceeds from the offering would total nearly $150M.
- GTE says it plans to use the proceeds to repay borrowings outstanding under its revolving credit facility.
Mon, Nov. 7, 6:04 AM
Sun, Nov. 6, 5:30 PM| Sun, Nov. 6, 5:30 PM | 5 Comments
Mon, Aug. 8, 6:04 AM
Sun, Aug. 7, 5:30 PM
Fri, Jul. 1, 2:00 PM
Fri, Jul. 1, 8:29 AM
- Gran Tierra Energy (NYSEMKT:GTE) agrees to acquire PetroLatina Energy, a Colombia-focused E&P company, for $525M.
- PetroLatina operates the Acordionero conventional oil field in Colombia’s Middle Magdalena basin, where it has drilled a discovery exploration well and three follow-up appraisal wells.
- GTE says the deal is a "unique material opportunity in Colombia in terms of scale and upside potential, and will add a new core area for Gran Tierra in the prolific Middle Magdalena Basin."
Mon, Jun. 20, 1:55 PM
- Gran Tierra Energy (GTE +3.4%) is upgraded to Top Pick from Outperform with a $6 price target, lifted from $4.75, at RBC Capital, following GTE's move earlier this month in negotiating hedging contracts limiting potential downside when the company converts Colombian pesos to U.S. currency.
- RBC says GTE has established an acreage position to deliver a repeatable, short-cycle time, reserves and production growth opportunity funded entirely from internal cash flow.
- The upgrade comes ahead of GTE's multi-year drilling campaign starting Q3 focused onshore southern Colombia.
Wed, Jun. 1, 2:26 PM
- Gran Tierra Energy (GTE -2.5%) is lower after raising its capital spending budget for the rest of the year by $33M-$43M, in a potential 40% bump over its previous guidance.
- GTE's base capital budget boost sends its full-year total to $140M-$150M, all of it directed at exploration activities in Colombia, including funding two more exploration wells in the Putumayo Basin and elsewhere as well as 2D seismic work in the Sinu Basin ahead of its 2017 drilling program; GTE says lenders pared its committed borrowing base by $15M to a new total of $185M.
- GTE also says its 2016 production guidance remains unchanged, with output before royalties expected to average 27.5K-29K boe/day, up 20% over 2015 average production of 23.4K boe/day.
Wed, May 4, 6:08 AM
- Gran Tierra (NYSEMKT:GTE): Q1 EPS of -$0.15 misses by $0.01.
- Revenue of $54.8M (-28.5% Y/Y) beats by $3.05M.
Tue, May 3, 5:30 PM
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Thu, Apr. 21, 2:56 PM
- The analyst who called the downfall of Pacific Exploration & Production recommends Gran Tierra Energy (GTE +2.1%) as a buy for investors still looking to benefit from Colombia’s oil potential.
- Paradigm Capital's Ian Macqueen says "Colombia is actually a very profitable place to produce, providing you have a reasonable capital structure to begin with,” adding that GTE is a likely suitor for assets that state-run oil company Ecopetrol (EC -0.4%) and others may be selling.
- Parex Resources (OTC:PARXF) is another company with a healthy balance sheet that could benefit as EC sells assets to reduce leverage, Macqueen says.
- Now read To Gran Tierra or not to Gran Tierra, that is the question
Tue, Apr. 12, 3:22 PM
- Pacific Exploration and Production (OTCPK:PEGFF) is very close to recommending the offer from Catalyst Capital in its restructuring process, with the final decision coming within days, BNN reports.
- The move comes amid shareholder anger about the restructuring process and the potential for management to receive an equity stake while existing shareholders are wiped out; a group representing Pacific’s largest shareholder recently asked Colombian regulators to halt the proceedings.
- Gran Tierra Energy (NYSEMKT:GTE) reportedly was seeking information from Pacific in order to make a bid, but was rebuffed as Pacific viewed them as a competitor.
Thu, Mar. 31, 12:46 PM