Colombian competition authorities have determined the integration will not face antitrust restrictions. The combined market share of Gran Tierra Energy and Maurel & Prom will remain below 20 percent in both crude oil production and natural gas segments, as well as in exploration activity measured by allocated hectares. The assessment was based on 2025 production data from Colombia’s National Hydrocarbons Agency showing average daily production of 746,467 barrels of oil and gas volumes of 320,269 million cubic feet daily in the North Zone and 938,545 million cubic feet daily in the Interior.
Maurel & Prom is controlled by PT Pertamina Internasional Eksplorasi dan Produksi, a subsidiary of Indonesian state-owned PT Pertamina. The French company currently holds exploration contracts in Colombia and will enter the production market through this acquisition. Gran Tierra’s South American operations include multiple branches: Gran Tierra Energy CI GmbH Sucursal Colombia, Gran Tierra Operations Colombia GmbH Sucursal, Gran Tierra Energy Resources Inc. Sucursal Colombia, and Petrolífera Petroleum (Colombia) Limited.
Post-transaction, Gran Tierra will concentrate on Canadian assets producing 12,000 to 13,000 barrels of oil equivalent per day across more than 500,000 net acres, alongside a 65 percent working interest in an Azerbaijani onshore agreement covering 4,815 square kilometers. Azerbaijan’s parliament ratified the onshore agreement on October 5, 2026. The deal structure includes $250 million payable at closing with an additional $65 million due 364 days later, subject to adjustments. Gran Tierra shares traded at $10.90 on the NYSE American on October 16, 2026, up 2.73 percent, with the stock having risen 176.65 percent over the prior year.
This article was curated and published as part of our South American energy market coverage.
