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Gran Tierra Energy Inc. (GTE)
NYSE MKT:GTE
Holding GTE?
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Earnings Data
Report Date
Feb 25, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
$0.23Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 04, 2024
|% Change Since: 5.84%
|Next Earnings Date:Feb 25, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted the strategic acquisition of i3 Energy, which significantly strengthened Gran Tierra's reserve base and diversified its asset portfolio. While there were operational efficiencies and exploration successes, particularly in Ecuador, challenges included decreased oil sales and wider differentials affecting netback.Company Guidance
In the third quarter 2024 earnings call for Gran Tierra Energy, management provided guidance reflecting a transformative period for the company, highlighted by the completion of the i3 Energy acquisition. This move bolstered Gran Tierra’s asset base with 253 net booked drilling locations and increased production to 18,000 barrels of oil equivalent per day (BOEPD). The acquisition significantly enhanced Gran Tierra's reserves, boosting PDP by 96%, 1P by 97%, and 2P by 119%, totaling approximately 178 million BOE of 1P and 322 million BOE of 2P reserves. Financially, the company reported $60 million in funds flow from operations, $93 million in adjusted EBITDA, and a cash balance of $278 million, although the latter is expected to decrease by $170 million due to the acquisition. Despite a 9% drop in oil sales to $151 million owing to lower prices and wider differentials, Gran Tierra remains committed to a net debt-to-EBITDA target of 1x or less. The call also outlined plans for increased capital allocation towards newly acquired Canadian assets and ongoing South American projects, indicating a strategic focus on diversified growth and shareholder returns through initiatives like the renewal of its share buyback program.Acquisition of i3 Energy
Gran Tierra completed its acquisition of i3 Energy, diversifying assets into Canada with 253 net booked drilling locations, increasing PDP reserves by 96%, 1P by 97%, and 2P by 119%.
Strong Reserve and Production Metrics
Gran Tierra now has 178 million BOE of 1P reserves and 322 million BOE of 2P reserves, with a reserve life index of 10 years for 1P and 18 years for 2P.
Charapa-B7 Well Success
The Charapa-B7 well in Ecuador had an impressive initial 30-day production rate of 2,043 barrels of oil per day, marking the highest of any Ecuador wells to date.
Exploration Success in Ecuador
Gran Tierra achieved a major milestone of over 1 million barrels of cumulative oil production in Ecuador.
Operational Improvements
Operating expenses decreased by 2% and transportation expenses decreased by 31%, improving operational efficiency.
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GTE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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GTE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 04, 2024 | $6.16 | $6.47 | +5.03% |
| Jul 31, 2024 | $9.28 | $8.58 | -7.54% |
| May 01, 2024 | $8.19 | $8.70 | +6.23% |
| Feb 20, 2024 | $5.27 | $5.15 | -2.28% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Gran Tierra Energy Inc. (GTE) report earnings?
Gran Tierra Energy Inc. (GTE) is schdueled to report earning on Feb 25, 2025, TBA Not Confirmed.
What is Gran Tierra Energy Inc. (GTE) earnings time?
Gran Tierra Energy Inc. (GTE) earnings time is at Feb 25, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GTE EPS forecast?
Currently, no data Available
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