New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
May 29, 2014
16:40 EDTGTEGran Tierra to sell Argentina business to Madalena Energy for $69M
Gran Tierra Energy announced it has entered into agreements whereby Madalena Energy has agreed to acquire Gran Tierra Energy's Argentina business unit for an aggregate consideration of approximately US$69M, comprised of US$49M in cash, US$14M in Madalena shares, and expected working capital adjustments of approximately US$6M. Gran Tierra Energy has received a deposit of US$12.6M and Madalena is expected to raise the remainder of the cash required to complete the transaction pursuant to a subscription receipt offering on a bought deal basis. In 2013, the Argentina business unit contributed average annual production of 3,028 barrels of oil equivalent per day, net after royalty and spent US$6.5M of its 2014 planned Argentina capital program of US$48M in the first quarter. "With the April 30, 2014 effective date of the transaction, Gran Tierra Energy plans to reduce its 2014 corporate capital spending program by an amount comparable to the planned Argentina capital program of US$48M, less the amount spent up to the closing date of the transaction. This reduction in corporate capital spending, in addition to the approximate US$69M aggregate consideration, will further strengthen the balance sheet for future capital spending requirements and allow us to dedicate our resources to where they will have maximum impact and to focus on our more profitable operations," concluded CEO Coffield. The Madalena board of directors has unanimously approved the Agreements. The closing date is expected to be on or before June 30 and it is subject to TSX Venture Exchange approval
News For GTE From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
January 26, 2015
06:16 EDTGTEGran Tierra downgraded to Neutral from Outperform at Credit Suisse
Credit Suisse downgraded Gran Tierra to Neutral following disappointing well results at Bretana Sur and lower commodity price forecasts. Price target cut to $3 from $5.
January 21, 2015
10:01 EDTGTEOn The Fly: Analyst Downgrade Summary
Subscribe for More Information
09:08 EDTGTEGran Tierra downgraded to Sector Perform from Outperform at Scotia Capital
07:55 EDTGTEGran Tierra upgraded to Buy at Canaccord
Subscribe for More Information
06:32 EDTGTEGran Tierra downgraded to Neutral from Overweight at HSBC
Subscribe for More Information
06:17 EDTGTEGran Tierra upgraded to Buy from Hold at Canaccord
Subscribe for More Information
January 20, 2015
09:09 EDTGTEGran Tierra reports 2014 production from continuing ops averaged 25,200 BOEPD
Gran Tierra Energy reports oil and natural gas production from continuing operations averaged approximately 25,200 barrels of oil equivalent per day gross working interest in 2014, or approximately 19,300 BOEPD net after royalties before adjustment for inventory changes and losses, or approximately 18,500 BOEPD NAR adjusted for inventory changes and losses. Approximately 99% of the 2014 production is oil, with the balance consisting of natural gas.
January 16, 2015
11:31 EDTGTEGran Tierra upgraded to Buy from Hold at Canaccord
Subscribe for More Information
January 13, 2015
10:00 EDTGTEOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: American Midstream Partners (AMID) initiated with a Buy at Wunderlich... Ameriprise (AMP) initiated with a Buy at Deutsche Bank... Applied DNA Sciences (APDN) initiated with a Buy at Maxim... Axalta Coating (AXTA) initiated with an Outperform at RW Baird... Bellicum Pharmaceuticals (BLCM) initiated with a Buy at Citigroup... Bonanza Creek (BCEI) initiated with a Hold at Deutsche Bank... ConocoPhillips (COP) initiated with an Underweight at JPMorgan... Core-Mark (CORE) initiated with a Buy at Jefferies... Dick's Sporting (DKS) initiated with an In-Line at Imperial Capital... Dynegy (DYN) reinstated with an Overweight at Barclays... Gannett (GCI) initiated with an Outperform at Wells Fargo... Gran Tierra (GTE) initiated with an Outperformer at CIBC... HomeAway (AWAY) initiated with an Outperform at RBC Capital... Juno Therapeutics (JUNO) initiated with a Neutral at Goldman... MakeMyTrip (MMYT) initiated with a Buy at BofA/Merrill... PDC Energy (PDCE) initiated with a Hold at Deutsche Bank... PNC Financial (PNC) initiated with a Hold at Evercore ISI... Proofpoint (PFPT) initiated with a Buy at Summit Research... Sensata (ST) initiated with a Buy at Stifel... Southcross Energy Partners (SXE) initiated with a Buy at Wunderlich... Suncor (SU) initiated with an Overweight at JPMorgan... U.S. Bancorp (USB) initiated with a Hold at Evercore ISI... United Financial (UBNK) initiated with a Sector Perform at RBC Capital... Vantiv (VNTV) initiated with an Outperform at Keefe Bruyette... Wells Fargo (WFC) initiated with a Hold at Evercore ISI.
06:47 EDTGTEGran Tierra initiated with an Outperformer at CIBC
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use