Gran Tierra Energy (GTE) said Tuesday that it completed the sale of a 50% stake and operatorship of a portion of its Simonette Montney assets in Alberta, Canada to Logan Energy for 52 million Canadian dollars ($36.3 million) in cash.
The deal is part of a previously announced joint venture transaction and partnership with Logan Energy.
Gran Tierra also said it will maintain a 50% working interest in the assets.
Shares of Gran Tierra were down more than 2% in recent Tuesday trading.
Price: 6.50, Change: -0.19, Percent Change: -2.84
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