Here is Why Gran Tierra Energy (GTE) Gained This Week

The share price of Gran Tierra Energy Inc. (NYSE:GTE) surged by 21.1% between February 13 and February 20, 2026, putting it among the Energy Stocks that Gained the Most This Week.

Gran Tierra Energy Inc. (NYSE:GTE) is an independent international energy company currently focused on oil and natural gas exploration and production in Canada, Colombia, and Ecuador.

Gran Tierra Energy Inc. (NYSE:GTE) rallied on February 19 when the company announced that it had signed an agreement with Azerbaijan’s SOCAR to explore and develop oil and natural gas in the country’s Guba-Khazaryani region. The agreement grants GTE a 65% working interest and operatorship of the contract area covering approximately 0.4 million gross acres, more than twice its current acreage in Ecuador. The company expects to begin an airborne gravity study this year, with seismic acquisition and drilling activities planned to commence in 2027.

Gary Guidry, President and CEO of Gran Tierra Energy Inc. (NYSE:GTE), commented:

“We are extremely excited about the opportunity to enter Azerbaijan, which we view as a compelling addition to Gran Tierra’s portfolio, and we are honored to be welcomed by the Republic of Azerbaijan and to partner with SOCAR, a highly professional, world-class integrated energy company. We believe this represents an early, scaled entry through SOCAR’s bid round into a jurisdiction that is clearly supportive of the continued development of its hydrocarbon resources, under a stable and transparent framework, as demonstrated by several recently announced production sharing agreements. Gran Tierra’s nimble operating model and proven track record of exploration and development in complex geologies position us well to advance exploration and development activities in Azerbaijan. Azerbaijan is a deeply established hydrocarbon province with major discoveries and a world-class, export-ready infrastructure system, supported by more than a century of oil and gas production history, including some of the world’s earliest and most prolific commercial oil developments. This aligns well with our strategy of pursuing risk-mitigated, capital-efficient growth in regions with demonstrated upside. Importantly, Azerbaijan plays a critical role in European energy security, supplying both oil and gas to key European markets, and we are excited about the opportunity to participate in that value chain over the long term.”

On the same day, Gran Tierra Energy Inc. (NYSE:GTE) announced it had signed an agreement with an unidentified buyer to sell its remaining working interest in the Simonette asset in Alberta for a total of C$62.6 million. The transaction is expected to close in the first quarter of 2026 and would complete Gran Tierra’s exit from Simonette.

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Disclosure: None.