Why These Energy Stocks are Gaining This Week

6. Gran Tierra Energy Inc. (NYSE:GTE)

Share Price Gains Between Apr. 9 – Apr. 16: 12.5%

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) announced this week that it has established a new $75 million reserve-based lending facility through its subsidiary, Gran Tierra Energy Colombia GmbH. The new facility has a final maturity date in 36 months from the closing date and will help bolster the company’s balance sheet during a period of high volatility.

Moreover, it was recently revealed that Equinox Partners Investment Management LLC, a major shareholder in Gran Tierra Energy Inc. (NYSE:GTE), has further boosted its stake in the company by purchasing 58,609 shares of its stock, amounting to a total value of $248,062.