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

Calgary, alberta, dec. 17, 2024 (globe newswire) -- gran tierra energy inc. (“gran tierra” or the “company”) (nyse american: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.
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