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Gary Guidry, President and CEO of Gran Tierra Energy Inc. (NYSE:GTE), recently sold a total of 52,000 shares of the company’s common stock. The transactions, which took place on December 27, 2024, were executed at a price of $6.99 per share, amounting to a total value of $363,480. Following these sales, Guidry retains ownership of 476,381 shares in the company. The sale price was converted from Canadian to U.S. currency, as noted in the filing. According to InvestingPro analysis, Gran Tierra maintains a GOOD overall financial health score, with an EBITDA of $371.5M in the last twelve months. The company is expected to remain profitable this year, with analysts forecasting continued net income growth. For deeper insights into GTE's valuation and growth prospects, discover 6 additional exclusive InvestingPro Tips and comprehensive financial analysis in the Pro Research Report.
In other recent news, Gran Tierra Energy Inc. announced a significant expansion into the Canadian market following its completion of the i3 Energy acquisition. The company's third quarter saw a 31% increase in funds flow from operations, reaching $60 million, while maintaining a stable average production rate. However, oil sales experienced a 9% decrease due to lower market prices. Gran Tierra ended the quarter with $278 million in cash and a net debt of $509 million, and celebrated six consecutive discoveries in Ecuador and a cumulative production milestone of over 1 million barrels.
The acquisition of i3 Energy diversifies Gran Tierra's portfolio and adds significant reserves, with a total of 178 million BOE in 1P reserves. Despite the increase in funds flow, the company reported a decrease in oil sales revenue due to lower prices. Looking ahead, Gran Tierra expects to release its 2025 guidance in early January, focusing on production growth in South America and Canada.
According to Ryan Ellson, the company plans to manage the 2026 amortization with cash on hand and projected free cash flow. Gran Tierra is also considering adjustments to the hedging program, with a focus on gas hedges from i3 for 2025. These recent developments underscore the company's strategic expansion and operational control over assets.
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