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Wednesday, Oct 16
Gran Tierra Energy raises production guidance
- Gran Tierra Energy (GTE) says Q3 production of ~22.5K boe/day exceeded expectations, due to the continued strong reservoir performance from the Costayaco field and successful execution of transportation strategies.
- Anticipates 2013 average production of 21.5K-22.5K boe/day, above prior guidance of 21K-22K; ~96% is expected to consist of light oil, with the balance consisting of natural gas.
- GTE says successful testing of the Moqueta-11 well and the addition of three appraisal wells in the Moqueta field in Colombia helped continue operational momentum in the quarter.