Skip to main content

Gran Tierra Energy Inc. announces status of Peruvian assets

Published by
Oilfield Technology,

Gran Tierra Energy Inc. has announced that management of Gran Tierra is evaluating a proposal relating to the company's assets in Peru, which will involve a spin-out of such assets to a separate entity (SpinCo) in which Gran Tierra will retain an equity interest (the Proposed Transaction).

The proposal contemplates that SpinCo would engage in external capital raising activities to fund the ongoing development of the Peruvian Assets.

The company had previously advised that the Peruvian Assets were not core to its ongoing plans and that it was considering a sale, farm-out or SpinCo of such assets. The company has not entered into a binding agreement to pursue the Proposed Transaction or any other transaction relating to the direct or indirect disposition of the Peruvian Assets. There are no assurances or guarantees that such a transaction, including the Proposed Transaction, will be undertaken by the company or, if such a transaction is undertaken, with respect to the type, terms or timing of such a transaction. It is the company's intention not to disclose developments with respect to the status of discussions until the Board of Directors has approved a specific transaction or otherwise determines that disclosure is necessary or appropriate.

Read the article online at:

You might also like

bp to sell interest in bp-Husky Toledo Refinery to Cenovus

Cenovus will pay US$300 million for bp’s stake in the refinery, plus the value of inventory, and take over operations when the transaction closes, which is expected to occur later in 2022. bp and Cenovus will also enter into a multi-year product supply agreement.


Embed article link: (copy the HTML code below):


This article has been tagged under the following:

Upstream news Oil & gas news