Gran Tierra Energy Inc. (GTE) has released an update.
Gran Tierra Energy Inc. has provided details about its oil and natural gas reserves as of December 31, 2023, prepared by McDaniel & Associates Consultants Ltd., noting an increase in proved, probable, and possible reserves. The Company’s average production increased by 6% in 2023, with capital expenditures of approximately $218.9 million and an estimated net debt of around $510.8 million. Oil sales for the fourth quarter of 2023 were estimated at $154.9 million, with an operating netback of $103.4 million. The net present value after tax of the proved reserves, discounted at 10%, was approximately $1.369 billion. Gran Tierra expects to file its audited financial statements for 2023 by February 20, 2024.
For further insights into GTE stock, check out TipRanks’ Stock Analysis page.
For a comprehensive understanding of the announcement, you can read the full document here.
