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CALGARY, Alberta - Gran Tierra Energy Inc . (NYSE American:NYSE:GTE) (TSX:GTE) (LSE:GTE), an international energy company, has entered into an agreement to sell its subsidiary Gran Tierra North Sea Limited (NYSE:SE) (GTNSL) to NEO Energy for a total consideration of US$7.5 million. The announcement was made today, with the transaction expected to be finalized in the third quarter of 2025.
GTNSL, a wholly owned subsidiary of Gran Tierra, holds a 100% equity interest in the UK Continental Shelf (UKCS) license P2358, which includes the Serenity Discovery (NASDAQ:WBD). The sale is part of Gran Tierra’s strategic operations, focusing on oil and natural gas exploration and production in Canada, Colombia, and Ecuador.
NEO Energy is a private upstream company and a prominent independent operator in the UK Continental Shelf. The completion of this sale is contingent upon meeting customary conditions precedent, including the approval of the North Sea Transition Authority regarding the change of control of GTNSL.
This divestiture aligns with Gran Tierra’s ongoing efforts to streamline its portfolio and focus on its core areas of operation. The company continues to develop its asset base in Canada, Colombia, and Ecuador and seeks new growth opportunities to enhance its portfolio.
Gran Tierra’s common stock is traded on three major stock exchanges under the ticker symbol GTE. The company has emphasized that information on its website or accessible from its website should not be considered part of this press release.
The transaction details are based on a press release statement from Gran Tierra Energy Inc. Further information about the company’s financial activities and regulatory filings can be accessed through the SEC website, SEDAR+, and the National Storage Mechanism website.
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