Gran Tierra Energy Inc. announced on June 4, 2025, that a wholly-owned subsidiary has signed an agreement to sell Gran Tierra North Sea Limited (GTNSL) to NEO Energy for a total consideration of US$7.5 million. GTNSL holds a 100% equity interest in UKCS licence P2358, which includes the Serenity Discovery.
NEO Energy is a private upstream company and a leading independent operator in the United Kingdom Continental Shelf. The completion of this transaction is subject to customary conditions precedent, including consent from the North Sea Transition Authority.
The sale is expected to close sometime in the third quarter of 2025. This divestiture allows Gran Tierra to focus its resources on its core oil and natural gas exploration and production activities in Canada, Colombia, and Ecuador.
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