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Capital Markets | Capital Expenditure | Capital Expenditure 2025 | Capex - 2026

Gran Tierra Energy To Step Down Activity in 2026

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   |    Wednesday,December 10,2025

Gran Tierra Energy’s 2026 development plan reflects a step-down in spending and activity as the company transitions from fulfilling Ecuador exploration commitments in 2025 toward a free-cash-flow-focused program. In 2026, Gran Tierra guides to capital expenditures of $110–$150 million (Low Case), $120–$160 million (Base Case), and $120–$160 million (High Case), with production of 42,000–47,000 boepd across all cases. The base case targets free cash flow of $60–$80 million and includes 8–10 gross development wells, split between 4 gross development wells at Cohembi (Suroriente, Colombia) and 5 gross (2.5 net) wells at South Simonette (oil-weighted Montney, Canada).

Compared with 2025 guidance, Gran Tierra’s 2026 plan implies lower capital and lower production. The 2025 capital expenditure budget of $240–$280 million supported a broader program including 10–14 development wells and 6–8 high impact exploration wells, with forecast production of 47,000–53,000 BOEPD. In 2026, the company’s budget is positioned around quick-payout development projects and completing Suroriente commitments by early Q2 2026.



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