Gran Tierra presents at EnerCom’s The Oil & Gas Conference®
Gran Tierra (ticker: GTE) is a publicly listed, independent international exploration and production company with onshore oil production focused in Colombia. GTE’s core assetsare located in the Middle Magdalena and Putumayo Basins.
Q2 highlights
- Production of 35,400 BOEPD in Q2 2018 and has 2020 forecasted W.I. production of ~50,000 BOEPD based on 2P forecast1
- Strong financial performance in the quarter: net income of $20 million ($0.05 per share, basic), funds flow from operations1 of $95 million ($0.24 per share, basic) and capital expenditures of $84 million
- 10 gross development wells (10 net) are planned for the second half of 2018
- Production is 100% oil and >90% operated by Gran Tierra
- Achieved 283% 2P reserves replacement in 2017
- Exited the Quarter with $126 million of cash and cash equivalents and an undrawn $300 million credit facility, representing 0.8 times net debt to the Quarter’s annualized funds flow from operations and 0.7 times net debt to the Quarter’s annualized EBITDA1
Breakout session at the EnerCom conference
During Gran Tierra’s breakout session at the 2018 EnerCom conference, management was asked the following questions:
- How do you get oil to markets?
- Can you talk about the surface security situation you experience?
- What are some of the challenges you encounter in production?
- What are your current marketing efforts?
You can listen to Gran Tierra’s presentation here.
