Exploration & Production | Capital Markets | Capital Expenditure | Drilling Program
Gran Tierra Lowers Capex for 2015
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Gran Tierra Energy Inc. has announced its 2015 Budget with a capital spending program of $310 million for its exploration and production development operations in Colombia , Peru and Brazil.
The capital spending program allocates $183 million for drilling, $69 million for facilities, equipment and pipelines, $56 million for geological and geophysical activities and $2 million associated with corporate activities. The capital spending program currently contemplates the drilling of 11 gross wells in Colombia and two gross wells in Peru . Approximately 70% of the drilling program is for development and appraisal drilling and approximately 30% is for exploration drilling. The approved 2015 capital spending program also includes seismic acquisition in preparation for additional exploration and…
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