What dominates the section
- Production is concentrated in four Colombian fields, creating outsized operational and reserve exposure.
- Canadian operations face sour gas, water-access, Crown lease, Indigenous-rights, and wildlife restrictions.
- Funding 2025 exploration and development depends on $240 million–$280 million of capital and specified oil and gas prices.
The risks most specific to Gran Tierra Energy
- Risks Related to our Business
Estimates of oil and natural gas reserves may be inaccurate and our actual revenues may be lower than estimated
Reserve estimates depend on oil and gas prices, costs, taxes, capital spending, and funding assumptions, so actual revenue may be lower.
- Risks Related to our Business
Drilling activities may encounter sour gas
High sour-gas concentrations in Alberta could force wells to shut in because existing infrastructure cannot handle them.
- Risks Related to our Business
Possible shortage of fresh water and surface and groundwater licenses
Insufficient fresh water or surface and groundwater licenses could limit the pace of drilling and completion in Canadian operating regions.
- Risks Related to our Business
Crown land tenure obligations, interpretations and freehold offset royalty obligations
Alberta could apply strict lease-tenure interpretations and terminate Canadian Crown leases when their defined terms expire.
- Risks Related to our Business
Indigenous rights and stakeholder opposition in Canada
Indigenous rights claims, protests, and demonstrations in Western Canada could delay third-party operations or new development.
- Risks Related to our Business
Restrictions on development activities to protect wildlife
Seasonal or permanent wildlife protections in Canada could block facility sites or restrict existing operations.
- Risks Related to our Business
We are vulnerable to risks associated with geographically concentrated operations
Four Colombian fields generated 79% of 2024 production and held 42% of proved reserves, concentrating operational exposure.
- Risks Related to our Business
Social disruptions or community disputes in Colombia and Ecuador may delay production and result in lost revenue
Community disputes in Colombia and Ecuador could delay production and reduce revenue unless local employment, environmental, communication, and development concerns are addressed.
- Risks Related to our Business
Security concerns in Colombia or Ecuador may disrupt our operations
Terrorist attacks and other violence targeting Colombian pipelines and infrastructure could disrupt operations in Colombia or Ecuador.
- Risks Related to our Financial Condition
Our business requires significant capital expenditures, and we may not have the resources necessary to fund these expenditures
The $240 million–$280 million 2025 capital program depends on operating cash flows supported by specified Brent, WTI, and gas prices.
All 24 risk factors
Headings as the filing states them, in filing order.
Risks Related to our Business
- 01Estimates of oil and natural gas reserves may be inaccurate and our actual revenues may be lower than estimated
- 02Exploration for oil and natural gas, and development of new formations, is risky
- 03efforts, not only from dry wells, but from wells that are productive but do not produce sufficient net revenues to return a profit after drilling, operating and other costs
- 04Drilling activities may encounter sour gas
- 05Possible shortage of fresh water and surface and groundwater licenses
- 06Crown land tenure obligations, interpretations and freehold offset royalty obligations
- 07Indigenous rights and stakeholder opposition in Canada
- 08Restrictions on development activities to protect wildlife
- 09Joint Venture partner alignment
- 10We are vulnerable to risks associated with geographically concentrated operations
- 11Social disruptions or community disputes in Colombia and Ecuador may delay production and result in lost revenue
- 12Security concerns in Colombia or Ecuador may disrupt our operations
- 13Certain acquisitions could adversely affect our financial results
- 14We may be adversely affected by global epidemics or public health crises
Risks Related to our Financial Condition
- 15Our business requires significant capital expenditures, and we may not have the resources necessary to fund these expenditures
- 16If cash flows from operations and cash on hand are not sufficient to fund our capital program, we may be required to seek external financing or to delay or reduce our exploration and development activities, which could impact production, revenues and reserves
- 17well as standards for measuring progress that are still in development, and may change or fail to be realized. These expectations and standards may continue to evolve
- 18Foreign currency exchange rate volatility may affect our financial results
Legal and Regulatory Risks
- 19We are dependent on obtaining and maintaining permits and licenses from various governmental authorities
- 20Environmental regulation and risks may adversely affect our business
- 21If the United States imposes sanctions on Colombia, Ecuador or Canada in the future, our business may be adversely affected
- 22Reduction, elimination or expiration of government subsidies
- 23Carbon taxes and environmental compliance costs
Risks Related to Ownership of our Common Stock
- 24The market price of our Common Stock may be volatile
Other Gran Tierra Energy 10-Ks
- 2026 10-K risk factors
25 risks. Gran Tierra Energy faces significant geographical concentration, with half of its production and proved reserves tied to four fields in Colombia.
Filed Mar 04, 2026
About this page
Item 1A of the 10-K on EDGAR was split into its risk factors and, where the company's previous 10-K is on file, each heading was matched to last year's and the text compared word for word. The headings are the filing's own. The one-line readings and the overview were written by a language model from the text of the new, dropped, and rewritten risks; they refer to risks by position and cannot misquote a heading.