Seeking Alpha

MissionIR's  Instablog

MissionIR
Send Message
We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices. It is our unwavering commitment to connect the investment community with companies that have great potential and a strong dedication to... More
My company:
MissionIR
My blog:
MissionIR Blog
  • Gran Tierra Energy, Inc. (GTE) Reports First Quarter 2012 Activity 0 comments
    May 7, 2012 2:40 PM | about stocks: GTE

    Gran Tierra Energy reported a financial and operational update on the company's oil and gas activities for the first quarter of 2012. The company is active in various parts of South America including Colombia, Brazil, Peru, and Argentina.

    Gran Tierra Energy reported average production of 16,742 barrels of oil equivalent (BOE) per day in the quarter ending 3/31/2012. This represented year-over-year growth of 15% in the quarter. This growth is continuing in the second quarter of 2012, with the company reporting average production of 20,700 BOE per day in April 2012.

    Gran Tierra Energy has increased the company's capital investment program for 2012 to $444 million, up from the previous level of $367 million. The program includes $250 million for drilling activity, with 53% allocated to exploration and the balance to appraisal and development drilling.

    Gran Tierra Energy drilled two successful appraisal wells in the Llanos Basin in Colombia during the first quarter of 2012. The company also reported two successful appraisal wells in the Recôncavo Basin of Brazil.

    In Argentina, Gran Tierra Energy drilled the Proa-2 appraisal well on the Surubi Block and reported production of 6,300 BOE per day.

    For more information on the company, go to www.grantierra.com

    Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html

    Stocks: GTE
Back To MissionIR's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.