Gran Tierra closes JV transaction, partnership with Logan Energy

Gran Tierra Energy (GTE) has completed its previously announced strategic joint venture transaction and partnership with Logan Energy Corp. (LOECF). Pursuant to the Transaction, Gran Tierra and Logan entered into a purchase and sale agreement whereby Logan acquired a 50% working interest and operatorship of a portion of Gran Tierra’s Simonette Montney assets for approximately C$52 million in cash, subject to customary adjustments. Gran Tierra will retain the remaining 50% working interest in the Assets. The Transaction is expected to provide a growth-focused platform to advance Gran Tierra’s Montney development and is aligned with the Company’s corporate strategy of long-term value creation.