Maurel & Prom has acquired Gran Tierra Energy Inc. in a transaction completed for an undisclosed amount. The deal brings the French oil and gas operator together with a company focused on exploration and production in Azerbaijan, Canada, Colombia and Ecuador. Gran Tierra’s common shares, which trade on the NYSE American, the London Stock Exchange and the Toronto Stock Exchange under the ticker symbol GTE, will be delisted as part of the acquisition.
Gran Tierra has built its operations around oil and gas exploration and production across its four core countries, leveraging the global experience of its team to manage assets in a transparent and responsible manner. Maurel & Prom, an established player in the upstream sector, gains immediate access to a diversified portfolio of producing assets and exploration opportunities in South America and the Caucasus. The acquisition broadens Maurel & Prom’s geographic footprint beyond its existing operations, adding new production bases in Colombia and Ecuador, while also providing entry into Azerbaijan and Canada.
For Maurel & Prom, the strategic rationale centers on scale and portfolio diversification. Gran Tierra’s established production infrastructure and development projects offer a steady revenue stream, while its exploration upside in Colombia and Ecuador aligns with Maurel & Prom’s focus on growth in proven hydrocarbon basins. The combined entity will be able to share technical expertise in mature field management and drilling efficiency, potentially lowering operating costs across the merged asset base. No financial details of the transaction were disclosed, and no changes to Gran Tierra’s management team have been announced.
The acquisition is expected to close following customary regulatory approvals, after which Gran Tierra’s shares will cease trading on the three exchanges. The combined company will operate with a broader asset base, allowing for more balanced capital allocation across geographies. Maurel & Prom will integrate Gran Tierra’s operations into its existing structure, with a focus on maintaining production levels and advancing near-term development projects. The deal positions the enlarged group to pursue further consolidation opportunities in the region, though no specific plans have been outlined.