Gran Tierra reported 1Q16 production volumes of 25,610 boe/d, which were 3% lower than our estimate and consensus. The development drilling program was slightly slower than anticipated. On a positive note, April 2016 volumes of approximately 26,500 boe/d are on track and there are additional new development wells to be put on production in the near-term. Cash flow of US$11.4 mm in 1Q16 was below our estimate and the consensus estimate of US$16 mm, due to lower than anticipated production volumes ....
05 May 2016
Reports 1Q16 Results
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Reports 1Q16 Results
Gran Tierra Energy Inc. (GTE:LON) | 548 0 0.0% | Mkt Cap: 176.9m
- Published:
05 May 2016 -
Author:
Darren B. Engels -
Pages:
8
Gran Tierra reported 1Q16 production volumes of 25,610 boe/d, which were 3% lower than our estimate and consensus. The development drilling program was slightly slower than anticipated. On a positive note, April 2016 volumes of approximately 26,500 boe/d are on track and there are additional new development wells to be put on production in the near-term. Cash flow of US$11.4 mm in 1Q16 was below our estimate and the consensus estimate of US$16 mm, due to lower than anticipated production volumes ....