Company Snapshot

 

 

Gran Tierra is a publicly listed, independent international exploration and production company with onshore oil production focused in Colombia and Ecuador.

Colombia represents 100% of our production with oil reserves and production mainly located in the Middle Magdalena Valley (“MMV”) and Putumayo Basin. In MMV, our largest field is the Acordionero Field, where we produce approximately 17° API oil, which represented 49% of total Company production in 2020. The Putumayo production is approximately 27° API for Chaza Block and 18° API for Suroriente Block, which represented 44% of total Company production in 2020.

Gran Tierra believes in creating value for all of our stakeholders through oil and gas exploration and production, capitalizing on the global operating experience of our team. We are building a record of success in Colombia and Ecuador in a transparent, safe, secure and responsible way.


GTE Uniquely Positioned for Value Creation

  • Sustainable business model with significant value in booked reserves base
    1P reserves underpin value; clear path to 2P and 3P exploitation; world class hydrocarbon basins
  • Robust free cash flow and attractive returns in supportive fiscal regimes 
    Returning to growth in 2021, flexible, progressive fiscal regimes 
  • Disciplined financial strategy; prudent discretionary capital programs
    Focused on balance sheet protection, long-term value preservation
  • World class development and low risk exploration in four proven onshore basins 
    Extensive seismic and well data across expansive acreage position
  • Going beyond compliance
    Meaningful and sustainable impact within the communities where we operate, with a continued focus on reducing emissions 


Operating Statistics
W.I. Production (Q2 2021) 23,035 BOEPD1

 

2020 W.I Reserves Metrics2
  1P 2P 3P
MMBOE 79 133 174
RLI (years)3 10 17 22
NPV10 BT (US $bn) $1.2 $2.0 $2.6 
NPV10 AT (US $bn) $1.0 $1.6 $2.0
NAV10 BT/Share (US$) $1.15 $3.25 $5.02

Gran Tierra Energy utilizes waterflood technology as a secondary recovery method. All of Gran Tierra’s assets currently under waterflood greatly exceed success factors as per Willhite’s waterflood screening criteria.4 Gran Tierra’s assets rank as world-class candidates for waterflooding.

GRAN TIERRA ASSETS UNDER WATERFLOOD5
Factors Favorable for
Waterflooding4
Acordionero Costayaco Moqueta Cohembi
Initial Oil Saturation > 40% 78% 86% 78% 90%
Oil-Zone Thickness > 15 ft 330 ft 114 ft 160 ft 125 ft
Permeability (Average) > 10 mD 750 mD 225 mD 275 mD 2,500 mD
Reservoir Depth > 1,000 ft 8,000 ft 8,400 ft 3,150 ft 9,100 ft
Viscosity < 15,000 cP 230 cP 1.5 cP 3.6 cP 28 cP

1 Colombia WI Q2 2021 average production.

2 Based on GTE McDaniel December 31, 2020 Reserves Report. See appendix for McDaniel Brent oil price forecast.

3 Calculated using average Q4 2020 WI production of 21,907 BOEPD.

4 Willhite. Paul G. Waterflooding. SPE Textbook Series Volume 3. Society of Petroleum Engineers. Richardson, Texas. 1986, p. 112.

5 Based on GTE McDaniel December 31, 2020 Reserves Report.