- Gran Tierra Energy (GTE -4.1%) is making Colombian oil deals the focus of its expansion this year as it steers investment plans away from Peru and Brazil, CEO Gary Guidry tells Bloomberg.
- GTE is "very interested” in assets being sold by Colombia’s state-run Ecopetrol and may diversify its portfolio to include heavy oil and natural gas blocks to take advantage of a strong balance sheet, the CEO says.
- Guidry was named president and CEO on May 8 as part of a shake-up led by hedge fund West Face Capital, which blamed the decline in GTE’s value since the start of 2011 on “failed high-risk, high-cost” exploration in Peru, Argentina and Brazil.