Gran Tierra sees 2024 production up 4% y-o-y to 32K-35K BOPD

Gran Tierra Energy announced its 2024 capital budget and production guidance. Sees total 2024 production up 4% vs. 2022 to 32K-35K barrels of oil per day, or BOPD. Sees 2024 Capital Expenditure Budget of $210M-$240M and Cash Flow of $280M-$320M in Base Case. Sees 2024 mid-point Base Case 2024 capital budget of $225M, expected to be fully funded from the Base Case 2024 mid-point Cash Flow forecast of $300M. During 2024, Gran Tierra plans to allocate up to approximately 50% of its Free Cash Flow to share buybacks in the Base Case. During 2023, the Company repurchased approximately 7.1% of its outstanding shares. Targets a net debt to EBITDA ratio of 0.8 to 1.2 times.