Gran Tierra's second-half plan: five Simonette wells, a Perico water injector and a Clearwater core study

Gran Tierra Energy, which produces oil and gas in Colombia, Ecuador and Canada, has three pieces of work due in the second half of 2026. All three come from its 29 January operations update, and nothing in the material reviewed here confirms progress since.

What is planned

• Simonette (Canada): the plan is to bring 5 gross wells onstream in the second half of 2026. In January, three surface holes had been drilled from the 6-9 pad and the 16-14-061-01W6 well was drilling its lateral section.
• Perico (Ecuador): a Lower U injector conversion, part of a waterflood, was planned for the third quarter of 2026. A similar conversion at Iguana was planned for the second quarter.
• Dawson 102/12-11 (Clearwater, Canada): advanced core analysis, with the study due for completion sometime in 2026. The company said it will inform well design, mud system selection and geological modeling.

Why it matters

The company said recent Lower Montney wells at Simonette were meeting or exceeding type curve expectations. If the five wells arrive on time, they would add to Canadian output. The company also reported a preliminary, unaudited non-cash impairment of roughly $65 million to $85 million on certain Canadian long-lived assets for 2025.

Perico came with a previously announced acquisition. Gran Tierra holds 100% and lists oil prospective P50 resources of 10.397 mmbbl. Its field development plan was still under regulatory review in January. Waterflood initiation is one of the optimizations the company named for the field. Elsewhere in Ecuador it holds 100% of Chanangue (24.899 mmbbl prospective P50) and Charapa (36.701 mmbbl), and 52% of Suroriente (3.405 mmbbl).

What is uncertain

The Perico window (third quarter) has now ended, and the Iguana window (second quarter) ended earlier. The inputs contain no confirmation that either conversion happened, so their status is unknown. The Simonette timing is a half-year range, and the core study has only a year-long window. The Perico development plan was still awaiting approval when the plan was stated.

The company's 2025 figures in that update were preliminary and unaudited, including net debt of about $657 million.

Ownership backdrop

In August, Equinox Partners Investment Management sold shares on four dates, totaling 3,831,940 shares. Daniel Lau reported a 13.60% holding on 12 August. Two executives bought small amounts at $7.12 under a company stock plan.