GRAN TIERRA ENERGY INC. Files 2023 Annual Report (10-K)

TL;DR

<b>GRAN TIERRA ENERGY INC. filed its 2023 10-K report detailing its financial performance and operations for the fiscal year ending December 31, 2023.</b>

AI Summary

GRAN TIERRA ENERGY INC. (GTE) filed a Annual Report (10-K) with the SEC on February 20, 2024. Filed 2023 10-K report on February 20, 2024. Fiscal year end December 31, 2023. Incorporated in Delaware. Primary SIC code: CRUDE PETROLEUM & NATURAL GAS [1311]. Business and mailing address: 500 CENTRE STREET SE, CALGARY, A0, T2G 1A6.

Why It Matters

For investors and stakeholders tracking GRAN TIERRA ENERGY INC., this filing contains several important signals. This filing provides a comprehensive overview of the company's financial health, operational activities, and risk factors for the fiscal year 2023, crucial for investors assessing performance and future prospects. As a crude petroleum and natural gas company, the 10-K report is essential for understanding its position within the energy sector, including production, reserves, and market exposure.

Risk Assessment

Risk Level: medium — GRAN TIERRA ENERGY INC. shows moderate risk based on this filing. The company operates in the crude petroleum and natural gas industry, which is subject to significant price volatility and regulatory changes, as indicated by its SIC code and the nature of the 10-K filing.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to assess Gran Tierra Energy's operational performance and market risks.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-02-20 — Filing Date (Filed as of date)
• 1311 — SIC Code (Standard Industrial Classification)
• 001-34018 — SEC File Number (SEC file number)

Key Players & Entities

• GRAN TIERRA ENERGY INC. (company) — Filer name
• 20231231 (date) — Fiscal year end
• 20240220 (date) — Filing date
• CRUDE PETROLEUM & NATURAL GAS (industry) — Standard Industrial Classification
• 500 CENTRE STREET SE (address) — Business address
• CALGARY (location) — Business address city
• DE (location) — State of incorporation
• 001-34018 (filing_id) — SEC file number

FAQ

Industry Context

Gran Tierra Energy Inc. operates in the crude petroleum and natural gas sector, a key industry within the broader energy market.

Regulatory Implications

As a publicly traded company in the US, Gran Tierra Energy Inc. is subject to SEC regulations, including the requirement to file annual reports (10-K) under the Securities Exchange Act of 1934.

What Investors Should Do

1. Review the full 10-K filing for detailed financial statements and management discussion.
2. Analyze the company's operational performance and production data for fiscal year 2023.
3. Assess the risk factors outlined in the report concerning market conditions and regulatory environment.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-02-20: Filing Date — Date the 10-K report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial filing of the 2023 10-K report, providing the first comprehensive look at the company's performance for the fiscal year ending December 31, 2023.

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share GTE NYSE American Toronto
• $218.9 million — ia and incurred capital expenditures of $218.9 million , the majority of which were incurred i
• $210 million — Our base capital program for 2024 is $210 million to $240 million for exploration and dev
• $240 million — tal program for 2024 is $210 million to $240 million for exploration and development activit
• $70 — elies in part on Brent oil prices being $70 per bbl for 2024. Business Strategy

Filing Documents

• gte-20231231.htm (10-K) — 2429KB
• gte-2023122023xex1072.htm (EX-10.72) — 74KB
• gte-20231231xex211.htm (EX-21.1) — 13KB
• gte-20231231xex231.htm (EX-23.1) — 4KB
• gte-20231231xex232.htm (EX-23.2) — 10KB
• gte-20231231xex311.htm (EX-31.1) — 12KB
• gte-20231231xex312.htm (EX-31.2) — 11KB
• gte-20231231xex321.htm (EX-32.1) — 7KB
• gte-2023122023xex971.htm (EX-97.1) — 20KB
• gte-20231231xex991.htm (EX-99.1) — 55KB
• gte-20231231_g1.jpg (GRAPHIC) — 7621KB
• gte-20231231_g2.jpg (GRAPHIC) — 91KB
• gte-20231231_g3.jpg (GRAPHIC) — 78KB
• gte-20231231_g4.jpg (GRAPHIC) — 92KB
• gte-20231231_g5.jpg (GRAPHIC) — 93KB
• gte-20231231_g6.jpg (GRAPHIC) — 92KB
• gte-20231231_g7.jpg (GRAPHIC) — 90KB
• gte-20231231_g8.jpg (GRAPHIC) — 116KB
• gte-20231231_g9.jpg (GRAPHIC) — 112KB
• 0001273441-24-000006.txt (&nbsp;) — 33540KB
• gte-20231231.xsd (EX-101.SCH) — 75KB
• gte-20231231_cal.xml (EX-101.CAL) — 109KB
• gte-20231231_def.xml (EX-101.DEF) — 367KB
• gte-20231231_lab.xml (EX-101.LAB) — 945KB
• gte-20231231_pre.xml (EX-101.PRE) — 626KB
• gte-20231231_htm.xml (XML) — 1615KB

Risk Factors 18

Item 1A. Risk Factors 18

Unresolved Staff Comments 26

Item 1B. Unresolved Staff Comments 26

Cybersecurity 26

Item 1C. Cybersecurity 26

Legal Proceedings 27

Item 3. Legal Proceedings 27

Mine Safety Disclosures 27

Item 4. Mine Safety Disclosures 27 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 28

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 28

Management's Discussion and Analysis of Financial Condition and Results of Operations 29

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 29

Quantitative and Qualitative Disclosures About Market Risk 53

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 53

Financial Statements and Supplementary Data 53

Item 8. Financial Statements and Supplementary Data 53

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 84

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 84

Controls and Procedures 84

Item 9A. Controls and Procedures 84

Other Information 86

Item 9B. Other Information 86

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 86

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 86 PART III

Directors, Executive Officers and Corporate Governance 86

Item 10. Directors, Executive Officers and Corporate Governance 86

Executive Compensation 87

Item 11. Executive Compensation 87

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 87

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 87

Certain Relationships and Related Transactions, and Director Independence 87

Item 13. Certain Relationships and Related Transactions, and Director Independence 87

Principal Accounting Fees and Services 88

Item 14. Principal Accounting Fees and Services 88 PART IV

Exhibits, Financial Statement Schedules 88

Item 15. Exhibits, Financial Statement Schedules 88

Form 10-K Summary 91

Item 16. Form 10-K Summary 91 SIGNATURES 92 2 CAUTIONARY LANGUAGE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements other than statements of historical facts included in this Annual Report on Form 10-K regarding our financial position, estimated quantities and net present values of reserves, business strategy, plans and objectives of our management for future operations, covenant compliance, capital spending plans and benefits of the changes in our capital program or expenditures, our liquidity and financial condition and those statements preceded by, followed by or that otherwise include the words "believe", "expect", "anticipate", "intend", "estimate", "project", "target", "goal", "plan", "budget", "objective", "should", or similar expressions or variations on these expressions are forward-looking statements. We can give no assurances that the assumptions upon which the forward-looking statements are based will prove to be correct or that, even if correct, intervening circumstances will not occur to cause actual results to be different than expected. Because forward-looking statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by the forward-looking statements. There are a number of risks, uncertainties and other important factors that could cause our actual results to differ materially from the forward-looking statements, including, but not limited to, our operations are located in South America and unexpected problems can arise due to guerilla activity, strikes, local blockades or protests; technical difficulties and operational difficulties may arise which impact the production, transport or sale of our products; other disruptions to

View Full Filing

View this 10-K filing on SEC EDGAR