Gran Tierra Energy (GTE +9.2%) moves sharply higher after reporting Q1 results that beat estimates on the top and bottom lines. Q1 EPS was $0.20 vs. $0.15 analyst consensus; revenue totaled $205M vs. consensus of $188M. GTE attributes its strong start to the year with new oil exploration well success in Peru, and record production of 23.4K boe/day.
Gran Tierra Energy (GTE +3.4%) pushes higher after Q3 results showed record levels of production of more than 19K boe/day, and the addition of "substantial" potential reserves at the Moqueta field in Colombia. Earnings fell slightly, to $0.16/share vs. $0.17 in the same period a year ago, while revenue and cash flow were stronger.
Gran Tierra Energy's (GTE +2.4%) Q2 production in its Colombia-focused portfolio tumbled 22% Y/Y due to pipeline disruption in a country that has seen a significant increase in rebel attacks on oil and gas assets in recent months. The attacks have cost the country an estimated average of 11K bbl/day in lost production.
Gran Tierra Energy, Inc., together with its subsidiaries is an international energy company engaged in oil and gas acquisition, exploration, development and production. The Company owns oil and gas properties in Colombia, Argentina, Peru and Brazil.