8.650 €
(1.59 %)
Landmark acquisition establishing a leading operated platform in Latin America
- HY 2026 working interest production of 29,026 bopd
- 144 mmbbls of certified 2P reserves as at 31 December 2025
- Targeting an increase in working interest production to 40,000 bopd by 2029-2030
High-quality portfolio combining resilient production and material organic growth
- Large, diversified, operated conventional oil portfolio across established hydrocarbon basins
- Low-decline, cash-generative production base supported by established infrastructure and multiple export routes
- Significant development, appraisal, and exploration inventory
Major expansion in Colombia, where M&P has a long and successful operating history
- Scaled operated platform across the Middle Magdalena Valley, Putumayo, and Llanos basins
- Mature cash generative fields and substantial enhanced recovery potential
- Further strengthens M&P’s long-term commitment to Colombia following the acquisition of the Sinu-9 gas licence
Strategic entry into Ecuador
- Entry into the prolific Oriente Basin through a portfolio of producing, development, and exploration assets
- High-quality reservoirs and a material inventory of exploration opportunities providing a new platform for growth
Attractive financing structure preserving M&P’s financial flexibility
- Total Transaction value of $1.33 billion, subject to customary adjustments, with an economic effective date of 31 March 2026
- Transfer of Gran Tierra’s senior notes ($582 million outstanding as at 30 June 2026) and $350 million prepayment facility to M&P, which will significantly reduce the cash consideration payable at closing
Closing expected around 31 December 2026
- Subject to Gran Tierra shareholder approval, required creditor consents, regulatory approvals in Colombia and Ecuador, and other customary closing conditions
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