Gran Tierra Energy Reports Q3 2026 Net Loss Amid Lower Production and Asset Divestments
Gran Tierra Energy (GTE) reported a net loss of $42 million for the third quarter of 2026, a significant reversal from the $25 million net income recorded in the previous quarter. The downturn was driven by $30 million in noncash stock-based compensation and $29 million in derivative instrument losses. Average working interest production fell to 39,904 boepd, a 4% sequential decrease attributed to lower output at the Cohembi field and recent divestments of Canadian assets. Financial performance was further pressured by declining realized oil prices and increased transportation costs in South America due to wider differentials and border closures. Adjusted EBITDA dropped to $68 million from $85 million in Q2. Despite these headwinds, the company is moving forward with a $1.33 billion sale of its Colombian and Ecuadorian business units, which is expected to net approximately $315 million in cash proceeds.
Topics: earnings report EBITDA energy sector net loss oil and gas production