GRAN TIERRA ENERGY INC. (GTE) Form 10-Q — Aug 4, 2026

$GTEForm 10-QFiled Aug 4, 2026, 7:25 PM ET0001273441-26-000028Original filing

Gran Tierra Energy swung to Q2 2026 net income of $24.9 million, or $0.70 per share, versus a $12.7 million loss a year earlier, as oil and gas sales rose 25% to $187.2 million on a 45% jump in Brent to $96.68 per barrel. Adjusted EBITDA rose 11% to $85.1 million and funds flow from operations reached $60.3 million, though production fell 20% year over year to 31,990 BOEPD.

Key figures

Eps: $0.70 basic and diluted Q2 2026; $(2.67) for six months
Revenue: $187.2 million Q2 2026 oil, natural gas and NGL sales; $359.2 million for six months ended June 30, 2026
Net Income: $24.9 million Q2 2026; $(94.3) million six months (vs. $(32.0) million prior year)
Total Debt: $597.5 million (vs. $707.7 million at December 31, 2025)
Revenue Yoy: +25% Q2 YoY; +13% six months YoY
Total Assets: $1.564 billion
Cash Position: $126.7 million cash and cash equivalents at June 30, 2026 (vs. $82.9 million at December 31, 2025)
Shares Outstanding: 35380429
Borrowing Base: C$75.0 million (US$52.8 million), reduced May 12, 2026; facility undrawn
Notes Exchange: $628.7 million of 9.50% Senior Notes exchanged for $125.0 million cash plus 9.75% notes
Mandatory Note Offer: Up to $30.0 million of 9.75% Senior Notes must be offered for purchase by December 31, 2026
H1 Operating Cash Flow: $230.1 million
Brent Average q2 2026: $96.68/bbl, +45% YoY
Production NAR q2 2026: 31,990 BOEPD, down 20% from 39,800 BOEPD Q2 2025
Senior Notes975 issued: $503.6 million aggregate principal, 9.75% Senior Secured Amortizing Notes due April 2031
Adjusted EBITDA q2 2026: $85.1 million (vs. $77.0 million Q2 2025)
Senior Notes Repurchases: $9.2 million face repurchased for $8.1 million in H1; additional $15.0 million for $13.5 million post-quarter
Buyback Program Remaining: 2,925,720 shares authorized; none repurchased in Q2 2026
Operating Netback q2 2026: $131.7 million (vs. $89.3 million Q2 2025)
Border Closure Transport Cost: ~$5.9 million in Q2 from alternative Putumayo route
Capital Expenditures q2 2026: $54.3 million
Royalties Percent WIProduction: 23% Q2 2026 vs. 16% Q2 2025
Funds Flow From Operations q2 2026: $60.3 million (vs. $53.9 million Q2 2025)

Price after filing

1 day: +4.2%7 days: +42.5%30 days: +52.3%

Close on the filing date to close N calendar days later (from $6.69). Historical, not a forecast.

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