How did GTE's revenue and expenses shift in Q4 2024?

**Gran Tierra Energy Inc (GTE) experienced a notable increase in revenue and a decrease in certain operating expenses in Q4 2024**, reflecting strategic shifts and operational adjustments.

1. **Revenue Shifts**:
- **Oil and Natural Gas Revenue**: GTE's revenue from oil and natural gas operations was $621.85 million. This segment includes oil sales, natural gas liquids, and oil and natural gas revenues.
- **Oil Sales**: Specifically, oil sales amounted to $151 million, representing a 9% decrease from the prior quarter.
- **Natural Gas**: GTE also had separate revenue streams from natural gas, amounting to $4.57 million, and natural gas liquids, totaling $1.81 million.

|code|Ticker|Name|Date|Business Composition|Revenue By Business|market_code|
|---|---|---|---|---|---|---|
|GTE|GTE.A|Gran Tierra Energy|20240101-2024|Oil and Natural Gas|6.21849E8|170|
|GTE|GTE.A|Gran Tierra Energy|20240101-2024|Oil and Natural Gas|4.74559E8|170|
|GTE|GTE.A|Gran Tierra Energy|20240101-2024|Oil and Natural Gas|3.23186E8|170|
|GTE|GTE.A|Gran Tierra Energy|20240101-2024|Oil and Natural Gas|1.57577E8|170|
|GTE|GTE.A|Gran Tierra Energy|20240101-2024|Oil and Natural Gas|1.57577E8|170|

2. **Expense Shifts**:
- **Operating Expenses**: GTE's operating expenses decreased by 2% to $46 million compared to the prior quarter.
- **Transportation Expenses**: Transportation expenses were reduced by 31% to $3.9 million.
- **Capital Expenditures**: Capital expenditures decreased to $53 million, down from $61 million in the previous quarter.

3. **Strategic Implications**:
- **Acquisition Impact**: GTE's acquisition of I Three Energy added 253 net booked drilling locations and increased production by 18,000 barrels of oil equivalent per day. This strategic move diversified GTE's assets into Canada and significantly boosted reserves.
- **Cost Reductions**: GTE achieved operational cost reductions, primarily due to lower workover costs, which contributed to the decrease in operating expenses.
- **Financial Position**: Despite the acquisition, GTE's funds flow from operations increased by 31% to $60 million, and adjusted EBITDA was $93 million. However, oil sales decreased due to lower prices and wider oil differentials, affecting profitability.

In conclusion, GTE's Q4 2024 financials reflect a company that has successfully diversified its assets and reduced costs through strategic acquisitions and operational efficiencies, although it has faced challenges in oil sales prices and differentials.