Wednesday, October 8, 2025

Latest

Gran Tierra Lowers Production Guidance, Raises EBITDA Guidance For 2021

Gran Tierra Energy Inc. (TSX: GTE) announced Monday its updated operational and financial guidance for 2021. This follows the recently ended blockades in Colombia that impacted key transportation routes and resulted in temporary shut-ins of the company’s wells and oil fields in the country.

Recognizing the effect of the temporary strain in its operations, the company adjusted its 2021 production guidance to 27,500-28,500 barrels of oil per day from the previously announced 28,000-30,000 barrels of oil per day.

The energy firm said that it has been gaining back its production capacity and is currently producing 29,000 barrels of oil per day. It also forecasts its production for the second half of 2021 to be at an average of 30,000-32,000 barrels of oil per day.

However, with a higher Brent oil pricing, the company expects a higher financial bottom line despite the lower production in the first half of 2021. The company expects the oil price to be at US$69.00 per barrel, compared to the previous guidance of US$61.00. Given this, the company adjusted its EBITDA guidance to US$265-US$285 million, up from the previous guidance of US$255-US$275 million.

Consequently, the company increased its 2021 operating netback guidance to US$340-US$360 million from US$310-US$330 million and its 2021 cash flow guidance to US$215-US$235 million from US$205-US$225 million.

The company’s 2021 guidance for capital remains unchanged at US$130-US$150 million, which it expects to be fully funded following the adjusted cash flow guidance.

Gran Tierra Energy last traded at $0.90 on the TSX.


Information for this briefing was found via Sedar and Gran Tierra Energy. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

Gran Tierra Records 30,607 BOPD Average Production In Q2 2022, “Highest Since Q4 2019”

Gran Tierra Energy Inc. (TSX: GTE) announced on Monday its Q2 2022 production results. The...

Tuesday, August 9, 2022, 10:48:02 AM

Gran Tierra Records 29,362 BOPD Average Production In Q1 2022

Gran Tierra Energy Inc. (TSX: GTE) announced on Tuesday its preliminary Q1 2022 results. The...

Wednesday, April 20, 2022, 02:58:00 PM

i3 Energy To Be Acquired By Gran Tierra Energy For $309.1 Million

Merger and acquisition activity continues apace within the oil and gas industry, with i3 Energy...

Tuesday, August 20, 2024, 10:22:40 AM

Gran Tierra Meets Lowered 2021 Production Guidance With 26,507 BOPD But Misses Financial Guidances

Gran Tierra Energy Inc. (TSX: GTE) announced on Tuesday its Q4 and full-year 2021 results....

Wednesday, February 23, 2022, 11:04:00 AM

Gran Tierra’s Q3 2024 Profits Plunge 97% Amid Rising Costs and Oil Price Pressures

Gran Tierra Energy (TSX: GTE) released its third-quarter 2024 results, showing mixed performance amidst a...

Monday, November 4, 2024, 09:45:07 AM