Gran Tierra Energy Inc. Announces Agreement to Sell its Colombia and Ecuador Business to Maurel & Prom and Reposition the Company for Fully Financed Growth
Gran Tierra Energy agreed to sell its Colombia and Ecuador oil and gas business to Maurel & Prom for $1.33 billion, assuming substantially all net liabilities. The transaction is expected to leave Gran Tierra debt-free with $250 million in cash at close and a $65 million note receivable, resulting in a pro-forma PDP NAV of $12.49 per share, an 83% premium to the 20-day VWAP.
Key figures
- Deal Value Usd
- 1330000000
- Break fee
- 50000000
- Cash at close
- 250000000
- Note receivable
- 65000000
- Premium to vwap
- 83%
- 2p reserves mmboe
- 86
- Net cash proceeds
- 315000000
- Ltm adjusted ebitda
- 306200000
- Ev ltm ebitda multiple
- 4.3x
- Interest savings annual
- 80000000
- Pro forma production boepd
- 12,000 to 13,000
- Pro forma pdp nav per share
- $12.49
AI analysis
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