September 08, 2022 | 1 minute read

LONDON – Bracewell (UK) LLP advised Gran Tierra Energy Inc., the oil and gas exploration and production company focused on Colombia and Ecuador, on a new credit facility for up to $150 million. The facility was entered into by two of its wholly owned subsidiaries, Gran Tiera Energy Colombia, LLC and Gran Tierra Colombia Inc., with Trafigura, a market leader in the global commodities industry. The facility replaces Gran Tierra’s previous borrowing base credit facility. The Gran Tierra subsidiaries simultaneously entered into crude oil sales contracts with Trafigura for the sale to Trafigura of all of Gran Tierra’s crude oil produced from its Colombian fields. Repayment of the new facility will be made by way of deductions of the price payable by Trafigura for the crude oil delivered under such contracts.

Bracewell lawyers involved in the transaction include:

Partners: Oliver Irwin and Ben James

Associates: Jess Hastings and Rory Wilson