Maurel & Prom to buy Gran Tierra assets

Maurel & Prom has signed a definitive agreement to acquire Gran Tierra Energy’s oil and gas assets in Colombia and Ecuador for $1.33 billion. The transaction gives Maurel & Prom a sizeable South American portfolio and marks a significant reshaping of Gran Tierra’s asset base. The agreed consideration covers producing fields and associated infrastructure in both countries.

The assets being sold produced about 29,026 barrels of oil per day on average in the first half of 2026. This existing production base provides immediate output for Maurel & Prom and underpins the scale of the acquisition. The portfolio is also reported to hold about 144 million barrels of proved and probable reserves, indicating substantial remaining resource potential.

Maurel & Prom has indicated that it sees potential to increase net production from the acquired portfolio from about 29,000 barrels per day today to roughly 40,000 barrels per day by 2029–2030. This target highlights the company’s plans to invest in and develop the Colombian and Ecuadorian assets over the medium term. The combination of current production and reserves offers a platform for gradual growth rather than just maintaining existing volumes.

By integrating these operations, Maurel & Prom aims to build a larger platform in Latin America. The expanded footprint in Colombia and Ecuador is expected to become a core contributor within its overall portfolio. The company’s production ambition underscores the strategic importance it places on these assets and the region.

As part of the agreement, Maurel & Prom will assume substantially all of Gran Tierra’s net liabilities linked to the assets. This transfer of liabilities is a key feature of the transaction structure alongside the $1.33 billion purchase price. The approach allows Gran Tierra to separate both the assets and their associated financial obligations from its remaining business.

The economic effective date of the deal has been cited as 31 March 2026. From this date, the economic benefits and risks tied to the portfolio are treated as belonging to the buyer, subject to completion. Legal closing, however, is only targeted around the end of 2026, creating a period in which the transaction will move through required approvals and closing conditions.

Completion of the transaction is targeted around 31 December 2026, subject to a series of conditions. These include approval by Gran Tierra’s shareholders, the consent of its creditors, and regulatory authorisations in both Colombia and Ecuador. These steps are typical for large cross‑border oil and gas asset deals and will determine the final timing of closing.

The combination of a defined economic effective date and an end‑2026 completion target gives both parties a clear framework for transition. Until closing, Gran Tierra remains the legal owner and operator of the assets, while preparations continue for the eventual transfer to Maurel & Prom. Market commentary has highlighted the scale of the deal and the growth objectives tied to the acquired portfolio.