The Canadian PressFebruary 26, 2014 08:20
CALGARY - Gran Tierra Energy Inc. (TSX:GTE) says it lost 12.4 million in net income in the fourth quarter, or four cents per diluted share.
That‘s compared to a net gain of $42.2 million, or 15 cents per diluted share, in the same period a year earlier.
For all of 2013, the Calgary-based company said its revenue grew 24 per cent to a record $723.6 million and net income increased 27 per cent to $126.3 million.
The company credits increased production, partially offset by decreased average realized oil prices.