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GTE - Gran Tierra Energy Is Extremely Cheap And Appears Priced For Bankruptcy
Gran Tierra Energy Inc.
Upstream oil explorers and producers are being battered by sharply weaker oil prices. Among one of the hardest hit, is Canadian intermediate oil producer operating in Colombia, Gran Tierra Energy (GTE). The Canadian upstream driller has lost almost 78% over the last year which is significantly greater than its peers operating in Colombia and Brent’s 43% decline.
Source: YCHARTS.
This sees Gran Tierra trading at an extremely deep discount to its previously reported after-tax NAV, with the market essentially pricing the company for bankruptcy. Gran Tierra is being buffeted by a range of