Gran Tierra Energy (GTE.TO) on Monday said net income fell in the third quarter on lower oil sales.
Third-quarter net income came in at $1.1 million, or $0.04 per share, down from $6.5 million, or $0.20 per share. Adjusted ebitda also decreased to $92.8 million from $119.2 million while oil sales fell to $151.4 million from $179.9 million.
The company produced 32,764 barrels of oil per day (b/d), down from 33,940 b/d.
In addition, the company said it has successfully drilled its sixth consecutive oil discovery in Ecuador, the Charapa-B7 well.
Separately, Gran Tierra said it has obtained approval from the TSX to make a normal course issuer bid, under which the company will buy for cancellation up to 3.5 million of its common shares, or 10% of the public float.
The normal course issuer bid will start Nov. 6 and end no later than Nov. 5, 2025.
The company's share price at last look had jumped 9.9% to US$6.77 in U.S. pre-market trading on Monday.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。