Gran Tierra Energy Inc.

Good morning, ladies and gentlemen, and welcome to Grand Tierra Energy's results conference call for the third quarter 2023. My name is Shannon, and I'll be your coordinator for today. At this time, all participants are in a listen-only mode. Following the initial remarks, we will conduct a question and answer session for securities analysts and institutions. Instructions will be provided at the time for you to queue up for questions. I would like to remind everyone that this conference call is being webcast and recorded today, Wednesday, November 1st, 2023 at 11 o'clock a.m. Eastern time. Today's discussion may include certain forward-looking information as well as certain non-GAAP financial measures. Please refer to the earnings and operational update press release we issued yesterday for important disclaimers with regard to this information and reconciliations of any non-GAAP measures discussed on today's call. Any production volumes are based on working interest sales before royalties. Finally, this earnings call is the property of Grand Tierra Energy, Inc. Any copying or rebroadcasting of this call is expressly forbidden without the written consent of Grand Tierra Energy. I will now turn the conference call over to Gary Guidry, President and Chief Executive Officer of Grand Tierra. Mr. Guidry, please go ahead.

Thank you, Operator. Good morning, and thanks for joining Grand Tierra in our third quarter 2023 results conference call. My name is Gary Guidry, President and Chief Executive Officer, and with me today are Ryan Elson, Executive Vice President and Chief Financial Officer, and Rob Will, our Vice President of Asset Management. On Tuesday, October 31st, 2023, we issued three press releases that included detailed information on our third quarter 2023 results. Another release announcing the appointment of Sebastian Morin, our new Chief Executive Chief Operating Officer, and a separate press release announcing the intention to make a normal course issuer bid for our common shares, all of which are available on our website. We are very pleased to welcome Sebastian back to Grand Tierra in the new position of Chief Operating Officer. Sebastian has a proven track record of delivering value-added results and demonstrated excellent mentorship and communication skills. Sebastian was integral and grantee era becoming best-in-class and drilling operations and execution of our capital programs Sebastian will be focused on continuous improvement and optimization of our capital investments and our operating costs and will be leading the functional integration of asset management plans to achieve optimum value for all of the company's assets and Ryan and Rob will now make a few brief comments, and then we will open the line for questions. I'll now turn the call over to Ryan to discuss key financial highlights from our third quarter results. Ryan?

Good morning, everyone. Grand Tierra had another solid quarter. Our financial position remains robust, and we continue to focus on maximizing operational efficiency and managing costs effectively to ensure sustainable growth and profitability. During the quarter, Grantiere delivered $79 million of funds flow, which is up 49% from the prior quarter and results in $2.37 of funds flow per basic share. After incurring approximately $43 million in capital expansures, the company generated free cash flow of approximately $36 million. Adjusted EBITDA was $119 million for the prior quarter, up from $97 million in the prior quarter. As of September 30th, 2023, the company had a cash balance of $123 million and net debt of $499 million. On the liability management front, we are very pleased with the successful completion of our bond exchange offering subsequent to the quarter, which we believe is highly beneficial for both Grand Tierra and our stakeholders. The company's balance sheet is now stronger due to an improved amortization schedule and less restrictive conditions. The bond exchange exchanges in tandem with our solid operating cash flow, provide additional financial flexibility and a stronger platform as we execute our strategy of delivering profitable production growth, free cash flow generation, and value creation for stakeholders. We intend to continue to high-grade our portfolio through our integrated strategy of acquiring, exploring, developing, producing, and enhancing high-quality oil and gas assets. Also, subsequent to the end of the quarter, the company entering the oil hedges covering approximately 15,000 barrels of day and through put options from October 1st, 2023 to March 31st, 2024 with a floor price of $80 rent with no ceiling for a premium of $3 per barrel. Grantier's average production for third quarter was 33,940 BOE per day, which was slightly up from the prior quarter. Grantier's production in the quarter was the company's highest quarterly average for the total production since second quarter 2019. Looking at pricing during the quarter, the Brent oil price averaged $85.92 per barrel, up 11% from the prior quarter. The company's quality and transportation discount narrowed to $11.83 per barrel, down from $14.10 per barrel in the prior quarter. The company's operating net back was $40.87 per barrel, up 18% from the prior quarter. During the quarter, we also announced that we had completed and met all the conditions associated with the Soriente continuation. While we are very excited about obtaining a 20-year extension on the block, we're even more excited about the development corridor this opens for future growth. Between three oil discoveries in 2022 and the Soriente continuation, we have secured a strong portfolio of organic development opportunities. In the south foot of my mile, we have the Alea 1848A block, where we discovered the rose field, and we have the Soriente block, which includes the Cohembe field as underwater flood. To the south of the border, in Ecuador, we have the Trapa Block, which has a Trapa Norte discovery, and the Chinenge Block, which includes a Boca Chico discovery. This large, contiguous development corridor will be a key focus of the company and provide a long runway for our future capital projects and production growth. Finally, as Gary mentioned at the opening of this call, we are pleased to announce our intention to resume our normal course issuer bid, which will allow us to purchase up to 10% of the public float of our common shares over the next 12 months. I'll now turn the call over to Rob to discuss our operational highlights from our third quarter results.