$GTE

Roth Capital Upgrades Gran Tierra Energy to Buy From Neutral, Adjusts Price Target to $10.35 From $10.61

Sector Update: Energy Stocks Decline Premarket Wednesday

Energy stocks were declining premarket Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) 1.6% lower.The United States Oil Fund (USO) was down 4.4% and the United States Natural Gas Fund (UNG) was 1.7% higher.Front-month US West Texas Intermediate crude oil was 5.1% lower at $89.13 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 4.2% to $95.41 per barrel, and natural gas futures were up 1.2% at $2.93 per 1 million British Thermal Units.TotalEnergies (TTE) is facing a dispute with Mozambique over about $2 billion in costs tied to delays at its liquefied natural gas project in the country, Bloomberg reported, citing an unnamed person familiar with the matter. Shares of TotalEnergies were down more than 2% pre-bell.BP (BP) removed Chairman Albert Manifold, citing governance and oversight concerns, though Manifold rejected the company's account and said his dismissal came without explanation, Bloomberg reported, citing unnamed people familiar with the matter. BP stock was down more than 2% premarket.Gran Tierra Energy (GTE) said it has finalized all conditions tied to its previously announced agreement with Ecopetrol (EC) to acquire a 49% working interest in Colombia's Tisquirama block, expanding its footprint in the Middle Magdalena Valley Basin. Ecopetrol shares were nearly 2% lower pre-bell.

Gran Tierra Secures 49% Stake in Colombia's Tisquirama Block From Ecopetrol

Gran Tierra Energy (GTE) said Wednesday that it has finalized all conditions tied to its previously announced agreement with Ecopetrol (EC) to acquire a 49% working interest in Colombia's Tisquirama block, expanding its footprint in the Middle Magdalena Valley Basin.The block includes the Tisquirama and San Roque fields, which produced about 2,500 barrels of oil equivalent per day on a gross basis in 2025, it said.Gran Tierra added that the assets sit adjacent to its operated Acordionero field and offer potential operational synergies due to similar geology and shared infrastructure.Under the agreement, Gran Tierra said it plans to initially focus on expanding waterflood operations from Acordionero into the Tisquirama fields, alongside well optimization and low-risk infill drilling. The company said it expects to complete Phase 1 of the project by Q1 of 2027 after investing at least $15 million in gross capital expenditures and implementing continuous water injection.Once Phase 1 is completed, Gran Tierra said it will receive 49% of both the fields' existing base production and incremental production.

Canaccord Genuity Upgrades Gran Tierra Energy to Buy From Hold, $10.15 Price Target

Canaccord Genuity Upgrades Gran Tierra Energy to Buy From Hold, $10.15 Price Target