05:50 PM EDT, 10/30/2025 (MT Newswires) -- Gran Tierra Energy ( GTE ) , after trade Thursday, said it swung to a third-quarter loss, not helped by total average WI production falling in the quarter, that sees it now forecasting the lower end of its production guidance range, but the company did announce "further exploration success" in Ecuador.

The company said it incurred a net loss of near US$20 million or $0.57 per share basic and diluted, compared to net income of US$1.1 million or $0.04 in the third quarter of 2024.

Gran Tierra's total average WI production was 42,685 barrels of oil equivalent per day (boepd), up 30% from the year-ago quarter due to the Canadian acquisition completed on Oct. 31, 2024, and successful exploration drilling in Ecuador. But total average WI production was 10% lower than the previous quarter because a landslide in Ecuador temporarily shut down all operations there and pipeline repairs at the Moqueta field halted production for several weeks.

The company said its current average production has been approximately 45,200 boepd. It added three major oil discoveries in Ecuador "add to the existing success in the country" also that Colombia's Cohembi field in the Southern Putumayo region reached its highest production level in 10 years.

In other news, it secured a $200 million prepayment facility, saying that highlights the strength of its portfolio, and cited an increase and extension of a Canadian Credit Facility.

Gary Guidry, President and Chief Executive Officer, said. "The Third Quarter showcased continued operational success across our portfolio. In Ecuador, we achieved further exploration success with the Conejo A-1 and A-2 wells and confirmed a new discovery at Chanangue-1, all of which highlight the significant potential of our acreage position. We also recently cased and cemented the Conejo A-2 well, targeting multiple prospective reservoirs including the Basal Tena and Hollin. The well discovered 41 feet of net reservoir with an average porosity of 13.8% in the Hollin formation suggesting well-connected reservoir quality over the full Conejo structural trap.

"In Colombia, new wells at Costayaco continued to perform well, and the Cohembi field delivered a strong waterflood response, with production reaching levels not seen in over a decade. In Canada, we successfully drilled and brought two additional Lower Montney wells onstream, both meeting or exceeding expectations.

"Production during the quarter was temporarily impacted primarily by externally driven events, including a landslide in Ecuador that required the shut in of all Ecuador production for several weeks and trunk line repairs at the Moqueta field which resulted in the field being shut in for the Quarter. These volumes represent deferred bbls rather than lost production, and we are already seeing a strong recovery, with current production averaging approximately 45,200 boepd. Based on the deferrals, we are forecasting the lower end of our production guidance range. The underlying assets continue to perform well, and our teams remain focused on ongoing optimization and maximizing production efficiency and cash flow with an expected exit rate of 47,000 to 50,000 boepd. We completed a number of initiatives to enhance liquidity and will be releasing our 2026 budget in mid December which will focus on free cash flow generation. The 2025 capital program was focused on fulfilling exploration commitments, which resulted in numerous material discoveries, and facility construction primarily in the Suroriente Block. With substantially all commitments behind us, the focus turns to free cash flow generation from our substantial, diversified resource base and deleveraging."

GTE was down 0.75% in Canada today.