Rodrigo Sanhueza's questions to Gran Tierra Energy Inc (GTE) leadership • Q1 2025
Question
Rodrigo Sanhueza of Santander Asset Management asked about the difference between reported CapEx and cash flow from investing, and questioned the capital allocation strategy, specifically weighing share buybacks against debt reduction amid potential market solvency concerns.
Answer
EVP and CFO Ryan Ellson explained the CapEx difference was due to a non-cash working capital change related to accounts payable from the heavy capital program. On capital allocation, he emphasized that the majority of cash flow went to debt reduction ($27 million) and that the company remains laser-focused on deleveraging while pursuing a modest buyback program, viewing the shares as a great investment.