Disposition of Simonette Assets
Gran Tierra Energy Inc. has entered into an agreement to sell its remaining working interest in the Simonette asset for C$62.5 million in cash, with an effective date of January 1, 2026, completing its exit from the asset. This divestiture is part of the company's strategy to optimize its portfolio, strengthen its financial position by deleveraging its balance sheet, and reallocate capital towards higher-return opportunities. The transaction is expected to close in the first quarter of 2026, subject to customary closing conditions.
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CALGARY, Alberta, Feb. 19, 2026 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE) (TSX:GTE) (LSE:GTE) is pleased to announce that it has entered into a purchase and sale agreement to sell its remaining working interest in the Simonette asset for total cash consideration of C$62.5 million and will have an effective date of January 1, 2026. The transaction completes Gran Tierra’s exit from Simonette and will deliver cash proceeds that will be directed toward deleveraging the balance sheet. This divestiture reflects the Company’s continued focus on portfolio optimization, free cash flow, disciplined capital allocation, and strengthening its financial position by reallocating capital toward higher-return opportunities across its core operating areas. Closing of the transaction is expected to occur during the first quarter of 2026, subject to the satisfaction of customary closing conditions.
About Gran Tierra Energy Inc.
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