Gran Tierra Energy Inc. announced its financial and operating results for the second quarter ended June 30, 2025, on July 30, 2025. The company reported a net loss of $12.74 million, compared to a net income of $36.37 million in Q2 2024, with total oil, natural gas, and NGL sales declining 8% year-over-year to $152.48 million.
Despite the sales decline, Gran Tierra achieved record company-wide production of 47,196 barrels of oil equivalent per day (BOEPD), a 44% increase year-over-year. Operating costs per BOE decreased to $13.42, the lowest level since Q1 2022, and drilling costs in the Colombian Cohembi field were reduced by 47%.
The company reported Adjusted EBITDA of $76.99 million and funds flow from operations of $53.91 million, with free cash flow turning positive at $2.7 million due to lower capital expenditures of $51.17 million. Gran Tierra also signed a mandate letter for a $200 million prepayment facility backed by crude oil deliveries, expected to close in Q3 2025, to enhance liquidity and optimize its debt maturity profile.
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