Gran Tierra Energy Inc said it
resumed regular production operations in the Putumayo Basin in
Southern Colombia, and remains on track to meet its prior
production rate forecast for the fourth quarter.
The company, which is focused on oil exploration and
production in South America, said crude oil transportation
operations on the Ecopetrol-operated Trans Andean pipeline
resumed on Aug. 10.
Calgary-based Gran Tierra said it subsequently restored
production in Colombia over several days and is currently
averaging about 21,770 gross barrels of oil per day (bopd) or
18,000 bopd net, after royalty.
“Additional royalties are expected for the Costayaco field
once cumulative production reaches 5 million barrels of oil
late in the third quarter,” Gran Tierra said in a statement.
With these additional royalties taken into account, Gran
Tierra said it remains on track to produce at its previously
announced rate of 14,000 to 16,000 bopd net after royalty in
the fourth quarter.
Gran Tierra shares closed at C$4.05 Monday on the Toronto
Stock Exchange. (Reuters)