Gran Tierra reported 1Q18 production of 35,075 boe/d that was slightly below expectations, while cash flow of US$75 mm beat expectations. The 2018e capital program has been increased by US$25 mm to range between US$275 mm and US$295 mm. The increased capital spending is directed toward facility expansions to support better than expected Acordionero production growth and to reduce operating costs. The Ayombero-1 exploration well was successfully drilled. The company plans to drill several addi
02 May 2018
Gran Tierra announces 1Q18 result and Ayombero-1 exploration well success
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Gran Tierra announces 1Q18 result and Ayombero-1 exploration well success
Gran Tierra Energy Inc. (GTE:LON) | 548 0 0.0% | Mkt Cap: 176.9m
- Published:
02 May 2018 -
Author:
Darren B. Engels -
Pages:
8
Gran Tierra reported 1Q18 production of 35,075 boe/d that was slightly below expectations, while cash flow of US$75 mm beat expectations. The 2018e capital program has been increased by US$25 mm to range between US$275 mm and US$295 mm. The increased capital spending is directed toward facility expansions to support better than expected Acordionero production growth and to reduce operating costs. The Ayombero-1 exploration well was successfully drilled. The company plans to drill several addi