Gran Tierra Energy Inc. announces an agreement to sell its Colombia and Ecuador business—its entire South American asset base—to Maurel & Prom. The deal is valued at total consideration of $1.33 billion, according to the company’s announcement and coverage by financial media. The transaction also includes plans to reposition Gran Tierra for “fully financed growth,” following the sale of the South American operations.
Financial Post reports that the company expects a pro-forma PDP net asset value (NPV10 BT) of about $12.49 per share on a fully diluted basis. It further states that this figure represents an approximately 83% premium, relative to the reference price used in the announcement. Investing.com similarly reports that Maurel & Prom will acquire the Colombia and Ecuador assets for $1.33 billion.
The sources agree on the buyer, the scope of assets (Colombia and Ecuador, representing Gran Tierra’s South American business), and the headline deal value, while details on terms beyond the consideration and the company’s stated net asset value are presented primarily in Gran Tierra’s own materials.
