CALGARY - Gran Tierra Energy Inc. (NYSE American:GTE)(TSX:GTE)(LSE:GTE), a $203 million market cap energy company, announced today that Peter Dey will resign from its Board of Directors at the end of June 2025 for personal reasons.

Dey has agreed to remain available as a consultant to the board through the end of 2025 while the company conducts a search for his replacement.

"On behalf of the Board of Directors of Gran Tierra, I want to thank Peter for his leadership and guidance since 2015," said Bob Hodgins, Chairman of Gran Tierra Energy Inc.

Gary Guidry, CEO of Gran Tierra Energy Inc., noted that the company has worked with Dey for almost 15 years across multiple companies and continents. "Peter is a distinguished expert in board governance, and his broad commercial background and strategic input have been instrumental in navigating a volatile and evolving industry," Guidry said.

Gran Tierra Energy is an independent international energy company focused on oil and natural gas exploration and production in Canada, Colombia, and Ecuador. The company is developing its existing portfolio in these countries while seeking additional growth opportunities.

The announcement was made in a press release issued by the company.

In other recent news, Gran Tierra Energy reported a strong performance in the first quarter of 2025, with a 14% increase in production compared to the previous quarter and a reduction in net loss from $34 million to $19 million. The company’s revenue from oil sales rose to $171 million, marking an 8% increase year-over-year. Additionally, Gran Tierra Energy announced the sale of its North Sea unit to NEO Energy for $7.5 million, a move that aligns with its strategy to streamline operations and potentially strengthen its financial position. Analyst activity has been notable, with Stifel Canada initiating coverage with a Buy rating and a C$10 price target, highlighting the company’s diversified portfolio and strong cash flow potential. Meanwhile, Raymond James started coverage with a Market Perform rating, noting concerns about the company’s financial leverage following its acquisition of i3 Energy. Gran Tierra’s strategic focus remains on expanding its production capabilities in Ecuador, Colombia, and Canada while maintaining disciplined financial management. The company also continues to prioritize debt reduction and a modest share buyback program. These developments reflect Gran Tierra Energy’s ongoing efforts to optimize its operations and enhance shareholder value.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.