- Seventh Consecutive Year of South American Reserves Growth With Over 100% Reserve Replacement PDP and 2P
- World Class Resource Base Captured Including 2P Reserves of 258 MMBOE
- 1P and 2P Reserve Life Index of 8 and 15 Years, Respectively
- Net Present Value Before Tax Discounted at 10% of $1.5 Billion (1P), $2.5 Billion (2P), and $3.3 Billion (3P)
- Net Asset Value per Share of $22.63 Before Tax and $13.62 After Tax (1P), and $51.09 Before Tax and $31.19 After Tax (2P)
- Unrisked 2C Resources of 74 MMBOE (Glauconitic) and 118 MMBOE Unrisked Mean Prospective Resources (Colombia and Ecuador)(1)
- Significant Unbooked Upside Potential Canadian Long-Term Gas(1)
Gran Tierra Energy, an independent international energy company focused on oil and natural gas exploration and production in Canada, Colombia and Ecuador, has announced the Company’s 2025 year-end reserves and specified resources as evaluated by the Company’s independent qualified reserves evaluator McDaniel & Associates Consultants in separate reports each with an effective date of December 31, 2025. See “Disclosure of Oil and Gas Information” for more information.
All dollar amounts are in United States ('U.S.') dollars and all reserves and production volumes are on a working interest before royalties ('WI') basis (net). Reserves are expressed in barrels ('bbl'), millions of barrels ('MMBBL'), bbl of oil equivalent ('boe') or million boe ('MMBOE'), while production is expressed in boe per day ('BOEPD'), unless otherwise indicated.
Gary Guidry, President and Chief Executive Officer of Gran Tierra, commented: 'Our 2025 year-end reserves and resources results reinforce the underlying strength and optionality of our asset base. As a result of exploration success and asset performance, we achieved greater than 100% reserve replacement in South America on both a proved developed producing ('PDP') and proved plus probable ('2P') basis for 2025. Our results clearly demonstrate the resources we have captured in the portfolio including 2P reserves of 258 MMBOE, unrisked best estimate contingent resources ('2C') in the Hoadley Glauconitic project ('Glauconitic') of 74 MMBOE and 118 MMBBL unrisked mean prospective resources in the noted Colombia and Ecuador prospects. In Canada, certain natural gas reserve volumes were reclassified as contingent resources reflecting a lower forecasted gas price, however, this does not diminish the underlying quality or long-term value of these assets and has limited impact on net present value. We have a deep inventory of oil assets and at current strip pricing our five year plan is focused on developing those assets, resulting in the reclassification based on reserve booking standards. We are the operator of the vast majority of our assets and in a higher natural gas price environment we could allocate capital quickly to our natural gas assets. With increased LNG capacity in North America and on going expansion of data centers, we remain more positive than ever on the long term demand for natural gas.
We have focused on portfolio longevity and asset quality, building a highly diversified portfolio across three countries, five basins, and two continents. This portfolio captures a substantial resource base, including approximately 296,965 MMcf or 0.3 trillion cubic feet ('Tcf') of unrisked high-estimate contingent resources ('3C') in the Glauconitic and 425,338 MMcf or 0.4 Tcf of proved plus probable plus possible reserves ('3P') across our natural gas resources and reserves inventory. Our PDP reserves continue to generate strong cash flow, supporting debt reduction and strengthening the balance sheet, while our significant contingent and prospective resources provide option value and flexibility as market conditions evolve. The Company maintains a highly attractive PDP foundation, significant proved ('1P') and 2P reserves, a demonstrated track record of moving 2P to 1P to PDP, and a deep inventory of resources that underpin meaningful long-term value.'
(1)These figures represent contingent resources under Canadian National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities (“NI 51-101”) and are not reserves under NI 51-101 or SEC requirements. See 'Disclosure of Oil and Gas Information, Disclosure of Reserves Information, Resources Information and Cautionary Note to U.S. Investors'.
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Source: Gran Tierra Energy
