Gran Tierra agrees to sell Colombia and Ecuador business to Maurel & Prom for $1.33 billion
Gran Tierra Energy signed an agreement to sell its Colombia and Ecuador oil operations to France's Maurel & Prom for $1.33 billion, including assumed debt and a prepayment facility. The company expects about $315 million in net cash proceeds, with part of that possibly used for a share repurchase, and says it would be debt-free after closing. The deal requires stockholder approval and regulatory clearances, and closing is targeted for on or about December 31, 2026.
Key points
- Total consideration is $1.33 billion; expected net cash proceeds are about $315 million, including about $250 million cash at closing and a $65 million note payable 364 days later.
- Company expects to eliminate substantially all interest costs, with estimated annual interest expense savings of about $80 million.
- Closing requires stockholder approval, creditor consents, and regulatory approvals in Colombia and Ecuador; a $50 million mutual break fee applies in specified circumstances.
- Target closing is on or about December 31, 2026; the company's Canada and Azerbaijan assets would remain.
The filing
Written by AI on Nov 9, 2026, 8:36 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 05, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.