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Gran Tierra Energy Inc. Announces Closing of Strategic Joint Venture Transaction and Partnership with Logan Energy Corp. to Accelerate Value in High-Impact Canadian Montney Oil Play
Tuesday, 17th December at 9:20 am
CALGARY, Alberta, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. ("Gran Tierra" or the "Company") (NYSE: GTE)(TSX: GTE)(LSE:GTE) is pleased to announce that Gran Tierra (by way of its wholly-owned subsidiary) has completed its previously announced strategic joint venture transaction and partnership (the "Transaction") with Logan Energy Corp. ("Logan") (TSXV: LGN). Pursuant to the Transaction, Gran Tierra and Logan entered into a purchase and sale agreement whereby Logan acquired a 50% working interest and operatorship of a portion of Gran Tierra's Simonette Montney assets (the "Assets") for approximately C$52 million in cash, subject to customary adjustments. Gran Tierra will retain the remaining 50% working interest in the Assets.
The Transaction is expected to provide a growth-focused platform to advance Gran Tierra's Montney development and is aligned with the Company's corporate strategy of long-term value creation.
Tuesday, 17th December at 9:20 am
CALGARY, Alberta, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. ("Gran Tierra" or the "Company") (NYSE: GTE)(TSX: GTE)(LSE:GTE) is pleased to announce that Gran Tierra (by way of its wholly-owned subsidiary) has completed its previously announced strategic joint venture transaction and partnership (the "Transaction") with Logan Energy Corp. ("Logan") (TSXV: LGN). Pursuant to the Transaction, Gran Tierra and Logan entered into a purchase and sale agreement whereby Logan acquired a 50% working interest and operatorship of a portion of Gran Tierra's Simonette Montney assets (the "Assets") for approximately C$52 million in cash, subject to customary adjustments. Gran Tierra will retain the remaining 50% working interest in the Assets.
The Transaction is expected to provide a growth-focused platform to advance Gran Tierra's Montney development and is aligned with the Company's corporate strategy of long-term value creation.
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