GRAN TIERRA ENERGY INC. (NYSEMKT:GTE) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
| Entry into a Material Definitive Agreement. |
On November 16, 2016, Gran Tierra Energy Inc. (the Company), Gran
Tierra Energy International Holdings Ltd., as borrower, the Bank
of Nova Scotia, Societe Generale, as administrative agent, and
the lenders party thereto entered into the Fourth Amendment to
the Credit Agreement (the Fourth Amendment). The Fourth Amendment
amends the Credit Agreement, dated as of September 19, 2015, by
and among the Company, Gran Tierra Energy International Holdings
Ltd., the Bank of Nova Scotia, Societe Generale and the lenders
party thereto (as amended, the Credit Agreement). The Fourth
Amendment, among other things, increases the borrowing base
thereunder from $185 million, with $160 million readily available
and $25 million subject to the consent of all lenders, to $250
million readily available. Concurrent with the effectiveness of
the Fourth Amendment, the Company repaid its bridge loan facility
in full using available borrowing capacity under the Companys
Credit Agreement.
From time to time, the agents, arrangers, book runners and
lenders under the Credit Agreement and their affiliates have
provided, and may provide in the future, investment banking,
commercial lending, hedging and financial advisory services to
the Company and its affiliates in the ordinary course of
business, for which they have received, or may in the future
receive, customary fees and commissions for these transactions.
| Item 2.03 |
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information provided under Item1.01 in this Current Report on
Form 8-K is incorporated by reference into this Item2.03.
About GRAN TIERRA ENERGY INC. (NYSEMKT:GTE)
Gran Tierra Energy Inc. is an energy company engaged in oil and gas acquisition, exploration, development and production. The Company focuses on onshore oil and gas properties in Colombia, and also own rights to oil and gas properties in Brazil and Peru. Its segments are Colombia, Peru and Brazil based on geographic organization. It operates principally in the Putumayo Basin in Colombia, and has properties in other basins, including the Catatumbo, Cauca, Llanos, Sinu-San Jacinto, Middle Magdalena and Lower Magdalena Basins. It has interests in over 30 blocks in Colombia and it is the operator on over 20 of these blocks. Its blocks and fields include Chaza-Costayaco and Moqueta Fields, Guayuyaco-Guayuyaco and Juanambu Fields, Garibay-Jilguero Field and over 11 Other Blocks. Blocks REC-T-129, REC-T-142, REC-T-155 and REC-T-224 are located over 70 kilometers northeast of Salvador, Brazil in the Reconcavo Basin. Its blocks in Peru include Block 123, Block 129, Block 107 and Block 133. GRAN TIERRA ENERGY INC. (NYSEMKT:GTE) Recent Trading Information
GRAN TIERRA ENERGY INC. (NYSEMKT:GTE) closed its last trading session down -0.08 at 3.08 with 1,159,750 shares trading hands.
