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July 2021 Investor Presentation – Gran Tierra Energy, Inc.

Gran Tierra Energy, Inc. · Jul 29, 2021 · 34 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. July 2021 Investor Presentation – Gran Tierra Energy, Inc. – slide 1
    Financial Overview Creating Value & Path to in Colombia Value Creation & Ecuador July 2021 1
  2. July 2021 Investor Presentation – Gran Tierra Energy, Inc. – slide 2
    GRAN TIERRA SNAPSHOT Independent international exploration and production 100% company with assets in Colombia & Ecuador Oil 2020 Reserves1 1P 2P 3P MMBOE 79 133 174 Diversified RLI (years)2 10 17 22 High-quality asset base NPV10…
  3. July 2021 Investor Presentation – Gran Tierra Energy, Inc. – slide 3
    2020 - STRONG PERFORMANCE IN A CHALLENGING YEAR Handling challenges with Preserving financial strength Delivering on operational COVID-19 pandemic by adapting to uncertainty targets Diligent management of COVID-19 safety Total…
  4. July 2021 Investor Presentation – Gran Tierra Energy, Inc. – slide 4
    2021 RETURNING TO GROWTH Q1/2021 Financial Q1/2021 Operational On Track To Deliver Strong Achievements Achievements Results in 2021 Laser Sharp Focus on Reducing Debt: credit Acordionero - production is the highest level Revised…
  5. July 2021 Investor Presentation – Gran Tierra Energy, Inc. – slide 5
    NO NEAR-TERM MATURITIES, HEDGING PROGRAM IN PLACE Maturity Profile & Debt Instruments US215MM Committed Credit Facility due 2022 40 - Covenant relief on debt to EBITDA covenant until October 2021 300 300 US300MM of 2025 Senior…
  6. July 2021 Investor Presentation – Gran Tierra Energy, Inc. – slide 6
    GTE UNIQUELY POSITIONED FOR VALUE CREATION Sustainable business model with significant value in booked reserves base 1P reserves underpin value; clear path to 2P and 3P exploitation; world class hydrocarbon basins Robust free cash…
  7. July 2021 Investor Presentation – Gran Tierra Energy, Inc. – slide 7
    2021 KEY OBJECTIVES Continue to optimize waterfloods & increase recovery factors Increase reserves with minimal capital expenditures 2021 Budget 1 Previous Budget Updated Budget Brent Oil Price (/bbl) 61.00 69.00 Direct free cash flow…
  8. July 2021 Investor Presentation – Gran Tierra Energy, Inc. – slide 8
    GRAN TIERRAS FOCUSED STRATEGY STRATEGY TACTICS Proven, Under-Explored Conventional Apply Proven Technology Hydrocarbon Basins GTE has been able to reduce drilling World-class exploration program targeting large prospect times/costs…
  9. July 2021 Investor Presentation – Gran Tierra Energy, Inc. – slide 9
    OIL & GAS ESSENTIAL TO THE ENERGY TRANSITION A significant share of the energy mix for decades Other renewables Oil and gas remain Bioenergy essential to meet 23% 25% Hydro global energy demand, Nuclear but energy production…
  10. July 2021 Investor Presentation – Gran Tierra Energy, Inc. – slide 10
    GTES CONTRIBUTION AS AN E&P COMPANY Maximize Value GTEs mandate is to develop high value resource opportunities in order to deliver top-quartile returns Social Investments GTE aims to have a meaningful and sustainable impact…
  11. July 2021 Investor Presentation – Gran Tierra Energy, Inc. – slide 11
    CAPITAL ALLOCATION PRINCIPLES & FRAMEWORK Principles Framework DISCIPLINED APPROACH TO Fund growth program through internally generated cash flows MANAGING LEVERAGE Targeting 2022 net debt1 to EBITDA1 of under 1.5x RETURNS…
  12. July 2021 Investor Presentation – Gran Tierra Energy, Inc. – slide 12
    HSE IS A KEY PRIORITY AT GTE 2020 Achievements 0.14 LTIF 0.35 TRIF 0.12 GTE achieved its BEST SAFETY 0.3 RECORD, achieving its first year with an 0.1 0.25 Lost Time Incident Frequency (LTIF) of 0.08 0.2 zero, during which the…
  13. July 2021 Investor Presentation – Gran Tierra Energy, Inc. – slide 13
    ENVIRONMENTAL, SOCIAL, GOVERNANCE FACT SHEET Environmental Social Gran Tierra has committed to reforesting 1,000 Over 214,000 people participated & benefited from hectares of land and securing and maintaining GTEs social investment…
  14. July 2021 Investor Presentation – Gran Tierra Energy, Inc. – slide 14
    WATERFLOOD UPDATE 16
  15. July 2021 Investor Presentation – Gran Tierra Energy, Inc. – slide 15
    WATERFLOODING IMPROVED OIL RECOVERY Waterflooding practiced since the 1920s, widest practiced secondary recovery method GTE utilizes waterflood technology in several key pools, improves recovery by: Displacing / sweeping oil towards…
  16. July 2021 Investor Presentation – Gran Tierra Energy, Inc. – slide 16
    WATERFLOODING CANDIDATE SCREENING All of Gran Tierras assets currently under waterflood greatly exceed success factors as per Willhites waterflood screening criteria1 Asset Overview Gran Tierras assets rank as world-class candidates…
  17. July 2021 Investor Presentation – Gran Tierra Energy, Inc. – slide 17
    WATERFLOODING MAXIMIZING FIELD RECOVERY1 Size of the bubble represents 2P OOIP in MMBOE under waterflood 2P Original Oil-In-Place2 (MMbbls) 100% 76 Costayaco 178 MM 75% Cohembi MQT 178 179 76 376 MM MM Water Cut (%) 179…
  18. July 2021 Investor Presentation – Gran Tierra Energy, Inc. – slide 18
    COSTAYACO WATERFLOOD PERFORMANCE - HISTORICAL 60,000 Oil Prod. Rate Water Prod. Rate Production and Injection Rate (barrels per day) Current watercuts: Water Inj. Rate 50,000 1P - GLJ YE20101 25% ACR 85% CYC 2P - GLJ YE20101…
  19. July 2021 Investor Presentation – Gran Tierra Energy, Inc. – slide 19
    ASSET OVERVIEW 21
  20. July 2021 Investor Presentation – Gran Tierra Energy, Inc. – slide 20
    2020 RESERVES1 ACORDIONERO COSTAYACO MOQUETA SURORIENTE Reserves by Category Reserves by Category Reserves by Category Reserves by Category 100 25 14 12 12 10 80 20 23 10 81 12 8 11 60 15 8 66 18 10 6 9 40 10 12 6 8 4 6 39 4 20…
  21. July 2021 Investor Presentation – Gran Tierra Energy, Inc. – slide 21
    ACORDIONERO SNAPSHOT Key Highlights Asset Overview 100% WI Gran Tierra Since acquired in 2016, Acordionero has produced 21MMbbls & generated 140MM of free cash flow (YE2020) Increasing water injection has flattened production…
  22. July 2021 Investor Presentation – Gran Tierra Energy, Inc. – slide 22
    COSTAYACO SNAPSHOT Key Highlights Asset Overview 100% WI Gran Tierra Multiple, high-quality stacked reservoirs; oil concentrated in the T & Kc sandstone reservoirs Sandstone light oil peripheral waterflood, carbonates light oil…
  23. July 2021 Investor Presentation – Gran Tierra Energy, Inc. – slide 23
    MOQUETA SNAPSHOT Key Highlights Asset Overview 100% WI Gran Tierra Multiple stacked reservoirs, highly structured, oil concentrated in the T & Kc reservoirs Sandstone light oil waterflood development Reserves1 2P reserves of 10…
  24. July 2021 Investor Presentation – Gran Tierra Energy, Inc. – slide 24
    SURORIENTE SNAPSHOT Key Highlights Asset Overview 52% WI Gran Tierra, 48% Ecopetrol GTE became operator in March 2019 Excellent waterflood response observed to date at the Cohembi field, with potential to increase production…
  25. July 2021 Investor Presentation – Gran Tierra Energy, Inc. – slide 25
    TRANSPORTATION 27
  26. July 2021 Investor Presentation – Gran Tierra Energy, Inc. – slide 26
    ACCESS TO EXISTING TRANSPORTATION INFRASTRUCTURE Gran Tierra benefits from large spare capacity in pipelines & trucking throughout Colombia & Ecuador, which leads to: Strong oil prices linked to Brent Narrow oil price differentials…
  27. July 2021 Investor Presentation – Gran Tierra Energy, Inc. – slide 27
    EXPLORATION OVERVIEW 29
  28. July 2021 Investor Presentation – Gran Tierra Energy, Inc. – slide 28
    HIGH IMPACT EXPLORATION PORTFOLIO Putumayo & Oriente: Underexplored, Proven Basins Colombias Putumayo basin is underexplored due to past above-ground security issues, now mitigated by Peace Agreement Same geology as Ecuador, where…
  29. July 2021 Investor Presentation – Gran Tierra Energy, Inc. – slide 29
    Financial APPENDIX Overview & Path to Value Creation 31
  30. July 2021 Investor Presentation – Gran Tierra Energy, Inc. – slide 30
    MCDANIEL PRICE DECKS Jan 1, 2021 Oil Price (US/bbl) Brent Comparison (US/bbl) McDaniel, Jan 1 2021 McDaniel, Jan 1 2020 Brent WTI 85 85 80 80 75 75 70 70 65 65 60 60 55 55 50 50 45 45 40 40 2021 2022 2023 2024 2025 2026…
  31. July 2021 Investor Presentation – Gran Tierra Energy, Inc. – slide 31
    GLOSSARY OF TERMS NON GAAP NON-GAAP TERMS Operating netback: Oil and gas sales less operating and transportation expenses. Operating netback per boe as presented is defined as oil and gas sales price less forecasts of transportation and…
  32. July 2021 Investor Presentation – Gran Tierra Energy, Inc. – slide 32
    GLOSSARY OF TERMS OIL & GAS OIL & GAS TERMS Barrel (bbl) Barrels of oil per day (bopd) Thousand cubic feet (Mcf) Barrels of oil equivalent (BOE) Barrels of oil equivalent per day (BOEPD) Million barrels of oil equivalent (MMBOE)…
  33. July 2021 Investor Presentation – Gran Tierra Energy, Inc. – slide 33
    NON-GAAP MEASURES EBITDA & Adjusted EBITDA EBITDA, as presented, is defined as net income or loss adjusted for depletion, depreciation and accretion (DD&A) expenses, interest expense and income tax expense or recovery. Adjusted EBITDA,…
  34. July 2021 Investor Presentation – Gran Tierra Energy, Inc. – slide 34
    900, 520 3RD AVENUE SW CALGARY, ALBERTA, CANADA T2P 0R3 END Investor Relations 403-265-3221 infograntierra.com 39

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