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Gran Tierra Energy Satisfies Conditions for Tisquirama Contract in Colombia

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Gran Tierra Energy (GTE.L) fulfilled all remaining conditions under its deal with Ecopetrol to acquire a 49% working interest in the Tisquirama block in Colombia's Middle Magdalena Valley Basin.

The energy company said Wednesday it initially plans to expand waterflood operations from its Acordionero field into the adjoining fields as part of the first phase development, followed by wellbore optimization and infill drilling.

The initial phase requires at least $15 million of gross capital expenditures and implementation of continuous water injection, which is estimated to be completed in the first quarter of 2027.

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