Commitments and Contingencies

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Commitments and Contingencies

Purchase Obligations, Firm Agreements and Leases

As at December 31, 2021, future minimum payments under non-cancelable agreements with remaining terms in excess of one year were as follows:

	Year ending December 31
(Thousands of U.S. Dollars)	Total		2022		2023		2024		2025		2026		Thereafter
Facilities	31,228		5,981		5,970		5,755		5,739		5,739		2,044
Operating leases (1)	2,889		2,163		623		94		9		—		—
Finance leases (1)	3,686		2,532		1,154		—		—		—		—
Software and Telecommunication	1,239		413		413		413		—		—		—
	$	39,042	$	11,089	$	8,160	$	6,262	$	5,748	$	5,739	$	2,044

(1) Including maintenance and operating costs.

Gran Tierra has operating leases for office spaces, vehicles, and tanks and finance leases for waterflood facilities, storage tanks and compressors.

Indemnities

Corporate indemnities have been provided by the Company to directors and officers for various items including, but not limited to, all costs to settle suits or actions due to their association with the Company and its subsidiaries and/or affiliates, subject to certain restrictions. The Company has purchased directors’ and officers’ liability insurance to mitigate the cost of any potential future suits or actions. The maximum amount of any potential future payment cannot be reasonably estimated. The Company

may provide indemnifications in the normal course of business that are often standard contractual terms to counterparties in certain transactions such as purchase and sale agreements. The terms of these indemnifications will vary based upon the contract, the nature of which prevents the Company from making a reasonable estimate of the maximum potential amounts that may be required to be paid.

Letters of Credit

At December 31, 2021, the Company had provided letters of credit and other credit support totaling $103.0 million (December 31, 2020 - $100.6 million) as security relating to work commitment guarantees contained in exploration contracts in Colombia and Ecuador and other capital or operating requirements.

Contingencies

Gran Tierra has several lawsuits and claims pending, including a dispute with the ANH relating to the calculation of HPR royalties. The outcome of the lawsuits and disputes cannot be predicted with certainty; Gran Tierra believes the resolution of these matters would not have a material adverse effect on the Company’s consolidated financial position, results of operations, or cash flows. Gran Tierra records costs as they are incurred or become probable and determinable.