Company Snapshot
Gran Tierra is a publicly listed, independent international exploration and production company with onshore oil production focused in Colombia.
The Company has also made a new-country entry into Ecuador through the formal signing of participation contracts for three blocks1.
"In 2018, our returns-focused strategy with an emphasis on profitable production growth generated strong financial results. Gran Tierra's high-quality, operated, diversified suite of assets in Colombia delivered material year-on-year improvements in several important metrics, including a 15% increase in production, a 424% increase in net income, a 45% increase in oil and gas sales per BOE, a 36% improvement in operating netback per BOE and an increase of 41% in funds flow from operations per share.”
- Gary Guidry, President and Chief Executive Officer
High-Quality Assets
- 90% operated, 100% oil
- Low decline rates
- Low operating costs
- Top quartile netbacks
Profitable Production Growth
- Short cycle times
- Focused on full-cycle returns
- Large inventory of undeveloped well locations
High-Impact Exploration
- Material, world-class prospective resource base
- Sizable prospect inventory
- Proved underexplored basins, with stacked horizons
Sustainable Business Model
- Strong balance sheet
- Exploration & development programs funded through cash flow
| Operating Statistics | |
|---|---|
| W.I. Production (Q2 2019) | 35,340 BOEPD2 |
| 2018 W.I Reserves Metrics3 | |||
|---|---|---|---|
| 1P | 2P | 3P | |
| MMBOE | 70 | 150 | 215 |
| RLI (years)4 | 5 | 11 | 15 |
| NPV10 BT (US $bn) | $1.4 | $2.8 | $4.0 |
| NPV10 AT (US $bn) | $1.2 | $2.2 | $3.0 |
| Mean Prospective Resources5 | Risked | Unrisked | |
| MMBOE | 361 | 1,419 | |
1 See press release for additional information.
2 Colombia WI production.
3 Based on Dec. 31 2018 McDaniel Reserve Report. Includes Suroriente W.I. of 52% after Vetra’s W.I. acquisition in March 2019 and VMM-2 W.I. of 100% after the acquisition of an additional 20% in April 2019. See Corporate Presentation appendix for McDaniel Brent oil price forecast.
4 Calculated using average fourth quarter 2018 WI production of 38,156 BOEPD.
5 Based on July 31 2018 McDaniel Prospective Resource Report, excludes recent acquisitions and Ecuador.