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Gran Tierra Energy Inc (GTE)

GTE on American Stock Exchange

2.77USD
29 Jul 2016
Change (% chg)

$0.06 (+2.21%)
Prev Close
$2.71
Open
$2.71
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Volume
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Latest Key Developments (Source: Significant Developments)

Gran Tierra Energy Inc. announces strategic US$525 million acquisition of Petrolatina Energy
Friday, 1 Jul 2016 04:00am EDT 

Gran Tierra Energy Inc : Gran Tierra Energy Inc. announces strategic US$525 million acquisition of Petrolatina Energy Ltd. in Colombia . Deal expected to be funded through combination of co's current cash balance, new $130 million debt facility, and a private placement . Says acquisition has been unanimously approved by board of directors of Gran Tierra . Under terms, all remaining shares of Petrolatina are acquired pursuant to provisions of articles of association of co upon closing . Consideration for deal to consist of initial payment of $500 million at closing, and a deferred payment of $25 million prior to december 31, 2016 . In connection with deal, Gran Tierra has agreed to issue up to 57.8 million subscription receipts priced at $3.00 per subscription receipt .Entered into commitment letter with Scotiabank, its lead lender, to provide up to $130 million in bridge financing to fund portion of deal.  Full Article

Gran Tierra Energy says entered second amendment to a credit agreement
Friday, 3 Jun 2016 04:35pm EDT 

Gran Tierra Energy Inc : On June 2, 2016, co entered into a second amendment to its credit agreement, dated Aeptember 18, 2015 - SEC filing . Second amendment amended credit agreement to also decrease amount of permitted senior debt from $600 million to $500 million .Second amendment amended credit agreement to decrease borrowing base under credit agreement from $200 million to $185 million.  Full Article

Gran Tierra Energy says increases 2016 capital budget to $140 mln-$150 mln
Tuesday, 31 May 2016 10:47pm EDT 

Gran Tierra Energy Inc : Gran tierra energy inc. Announces increase in 2016 exploration capital budget, hedging program, credit facilities update and an operations update . Increasing its base 2016 capital budget by $33 million to $43 million to a revised total of $140 million to $150 million . Gran tierra's 2016 production guidance remains unchanged . Company's previously announced base capital budget was $107 million .Committed borrowing base under gran tierra's credit facility has been modestly reduced from previous $200 million to $185 million.  Full Article

Gran Tierra Energy Inc announces pricing of $100 million convertible senior notes offering
Thursday, 31 Mar 2016 10:57pm EDT 

Gran Tierra Energy Inc:Priced its offering of $100 million aggregate principal amount of 5.0% Convertible Senior Notes due 2021 in a private placement to qualified institutional buyers.Estimates that the net proceeds from the offering will be approximately $95.4 million.Intends to use the net proceeds from this sale of the Convertible Notes for general corporate purposes, which may include acquisitions and/or capital expenditures.  Full Article

Gran Tierra Energy Inc announces private offering of $100 million of convertible senior notes due 2021
Wednesday, 30 Mar 2016 05:40pm EDT 

Gran Tierra Energy Inc:Intends, subject to market and other conditions to offer $100 million aggregate principal amount of convertible senior notes due 2021.Intends to use the net proceeds from this sale of the Convertible Notes for general corporate purposes, which may include acquisitions and/or capital expenditures.  Full Article

Gran Tierra Energy Inc to acquire all of Petroamerica's issued and outstanding shares
Thursday, 12 Nov 2015 11:59pm EST 

Gran Tierra Energy Inc and Petroamerica Oil Corp:Entered into an arrangement agreement dated November 12, 2015.Whereby Gran Tierra has agreed to acquire all of the issued and outstanding common shares of Petroamerica by way of a statutory plan of arrangement under the Business Corporations Act (Alberta).Under the terms of the Arrangement Agreement, Petroamerica shareholders will receive, at their election, either 0.40 of a Gran Tierra common share or C$1.33 in cash for each Petroamerica share, subject to a maximum of 70 percent of the consideration payable in cash.If Petroamerica shareholders elect to accept all share consideration, Gran Tierra expects to issue 43.6 million common shares.Gran Tierra will also be assuming the net positive working capital of Petroamerica, estimated at $25 million as at October 31, 2015, after accounting for severance and transaction costs, and including previously restricted cash which Gran Tierra expects to replace with letters of credit.Based on a 5-day volume weighted average trading price of C$3.32 per Gran Tierra common share on the facilities of the TSX, the transaction value including working capital and accounting for severance and transaction costs is $84 million.  Full Article

Gran Tierra Energy Inc gives FY 2015 production guidance
Wednesday, 5 Aug 2015 06:00am EDT 

Gran Tierra Energy Inc:Anticipates FY 2015 production to average between 22,500 and 23,500 BOEPD WI before royalties, or between 18,400 and 19,400 BOEPD NAR before adjustments for inventory changes and losses.  Full Article

Gran Tierra Energy Inc announces chief executive officer change - Form 8-K
Friday, 26 Jun 2015 06:03am EDT 

Gran Tierra Energy Inc:Says that Gary S. Guidry was appointed as president and chief executive officer of Gran Tierra.Says Guidry replaces Duncan Nightingale in that role, who has been serving as interim chief executive officer since Feb. and, with appointment of Guidry as chief executive officer, has been designated as executive vice president of Gran Tierra.  Full Article

Gran Tierra Energy Inc appoints CFO
Monday, 11 May 2015 04:30am EDT 

Gran Tierra Energy Inc:Says Ryan Ellson has joined company as Chief Financial Officer.  Full Article

Gran Tierra Energy Inc announces senior management change
Monday, 2 Feb 2015 08:00pm EST 

Gran Tierra Energy Inc:Announced that the employment of its Chief Executive Officer and President Dana Coffield has been terminated.Says that Coffield tendered his resignation from the Board of Directors, effective immediately.The Board has appointed Chief Operating Officer Duncan Nightingale, as interim President and Chief Executive Officer, Jeffrey Scott as the Executive Chair of the Board.  Full Article

BRIEF-Gran Tierra Energy Inc. announces strategic US$525 million acquisition of Petrolatina Energy

* Gran Tierra Energy Inc. announces strategic US$525 million acquisition of Petrolatina Energy Ltd. in Colombia