Gran Tierra Sells Colombia, Ecuador Assets for $1.33B

Gran Tierra Energy has agreed to sell its oil business in Colombia and Ecuador to Paris-listed Maurel & Prom for $1.33 billion, the company said Wednesday. The deal includes assumption of Gran Tierra’s 9.750% senior secured notes due 2031 and its 9.500% senior notes due 2029, plus a prepayment facility. After repaying its 7.750% notes due 2027 and covering transaction costs, Gran Tierra expects net cash proceeds of about $315 million. Of that, $250 million will be available at closing, with the remaining $65 million due as an unsecured note 364 days later.

The divested business produced roughly 29,000 barrels of oil per day in the first half of 2026, based on working-interest before royalties. It holds 144 million barrels of proved-plus-probable reserves, according to a McDaniel reserve report, and covers about 1.4 million gross acres across Colombia and Ecuador. Maurel & Prom, majority-owned by Indonesia’s Pertamina, will take over those assets.