By Adriano Marchese
Gran Tierra Energy shares fell Monday morning after reporting a loss in the fourth quarter as lower oil price hit results.
Shares traded 15% lower at 6.85 Canadian dollars ($4.81).
The oil and gas company reported a loss of $34.2 million, or $1.04 a share, down from a profit of $7.71 million, or 23 cents a share, a year earlier.
Funds flow from operations were nearly halved, at $44.1 million from $84.7 million.
Free cash flow was at a loss of $26.3 million, compared with a positive flow of $48.8 million.
Gran Tierra sand that the decline is commensurate with the decrease in Brent oil prices.
It said that its operating netback of $22.19 per barrel of oil equivalent was 38% lower from the fourth quarter 2023 and a decrease of 35% from the prior quarter due to increased weighting to natural gas in Canada and lower oil price.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
February 24, 2025 10:44 ET (15:44 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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