Gran Tierra Energy’s 2024 Financial and Operational Results: A Breakdown of Their Reserves
Calgary, Alberta, Feb. 24, 2025 – In a recent announcement, Gran Tierra Energy Inc. (GTE) shared their financial and operational results for the year ended December 31, 2024. The company reported their reserves, which were evaluated by McDaniel & Associates Consultants Ltd., following the guidelines of Canadian National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities (NI 51-101) and the Canadian Oil and Gas Evaluation Handbook (COGEH).
Reserves Categories
The following reserves categories were discussed in the press release:
- Proved Developed Producing (PDP): These reserves are discovered, developed, and in production. They have a high level of certainty that they will be recovered.
- Proved (1P): These reserves are discovered, but they have not yet been developed. They are economically recoverable with existing technology and industry practices.
- 1P plus Probable (2P): These reserves are discovered and have a reasonable chance of being economically recoverable with existing technology and industry practices.
- 2P plus Possible (3P): These reserves are discovered and have a low chance of being economically recoverable with existing technology and industry practices.
Impact on Individuals
For individuals who invest in the energy sector, particularly in companies like Gran Tierra Energy, the announcement of their reserves can have a significant impact on their investment decisions. The reserves represent the potential future cash flows from the company’s oil and gas operations. A larger reserve base can indicate a stronger financial position and potentially lead to higher stock prices.
Impact on the World
On a larger scale, the energy sector, and specifically companies like Gran Tierra Energy, play a crucial role in the global economy. The reserves reported by these companies represent a significant portion of the world’s energy resources. A steady supply of oil and gas is essential for many industries, including transportation, manufacturing, and electricity generation. A robust reserve base can help ensure energy security and stability in global energy markets.
Conclusion
Gran Tierra Energy’s announcement of their 2024 year-end reserves is an essential piece of information for investors and the energy industry as a whole. The reserves represent the company’s potential future cash flows and financial position. For individuals, this information can help inform investment decisions. On a larger scale, the reserves contribute to energy security and stability in global markets. As the energy landscape continues to evolve, it’s essential to stay informed about the companies driving the sector forward.
Stay tuned for more updates from Gran Tierra Energy and the energy sector.
