Gran Tierra Energy Inc. (NYSE American: GTE) is an oil and gas exploration and production company that operates primarily in Colombia and Ecuador, with additional assets in Canada. Revenue comes entirely from selling crude oil, natural gas, and natural gas liquids, with oil the dominant commodity across all three geographies. Total oil, natural gas, and NGL sales were $596.7M in FY2025, down from $621.8M in FY2024 and $637.0M in FY2023. Average consolidated daily production reached 45,709 BOEPD (working interest before royalties) in FY2025, up 32% from FY2024. Colombia accounted for $418.4M of FY2025 sales. The company sells Colombian Putumayo production as a blended crude called "Chaza Heavy" (23 to 25 degrees API) to a single international marketer under a contract expiring September 30, 2029, while Ecuadorian production is also sold to a single international marketer. Proved reserves stood at 111.6 MMBOE as of December 31, 2025. Capital expenditures were $256.3M in FY2025. The company reported a net loss of $193.1M in FY2025 and adjusted EBITDA of $283.7M.

Revenue model

Transactional crude oil and gas sales at the wellhead or at pipeline terminals. Production is sold under fixed-term marketing agreements with international marketers or directly to market. Revenue is a direct function of production volumes and realized commodity prices per BOE.

Products and services

Crude oil (primary product), natural gas, and natural gas liquids (NGLs). Colombian production includes heavy crude blended as "Chaza Heavy" (23 to 25 degrees API) from the Putumayo Basin and production from the Acordionero field in the Middle Magdalena Valley (MMV). Ecuadorian blocks produce oil ranging from 18 to 28 degrees API across Chanangue, Charapa, Iguana, and Perico blocks. Canadian assets produce oil, natural gas, and NGLs.

Customers and end markets

A single international marketer purchases all Colombian Putumayo and MMV production under a sales agreement expiring September 30, 2029. A separate single international marketer covers all Ecuadorian production. End market is global crude oil export. The company states that loss of any individual customer would not be material as customers can be substituted.

Value-chain role

Upstream exploration and production operator. The company holds working interests, drills and operates wells, and sells production at the wellhead or at pipeline inlets and terminals. It does not operate downstream refining or retail assets.

Geographic exposure

Colombia (primary, $418.4M of FY2025 oil and gas sales), Ecuador (development stage with multiple PSC blocks), and Canada (oil, natural gas, and NGLs; acquired in or before FY2024). Operations subject to regulatory oversight in all three countries.

Source: SEC 10-K, filed 2026-03-04

Industry: Crude Petroleum & Natural Gas Peers: Greenfire Resources Ltd