Exploration & Production | Top Story | Capital Markets | Capital Expenditure
Gran Tierra Planning $467MM Budget for 2014 South American Ops
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Gran Tierra Energy Inc. has reported a 2014 capital spending program of $467 million for its exploration and production development operations in Colombia, Brazil, Peru and Argentina.
The capital spending program allocates $227 million for drilling, $102 million for facilities, equipment and pipelines, $136 million for seismic activities and $2 million associated with corporate activities. The budget currently contemplates the drilling of 12 gross wells in Colombia, 2 gross wells in Argentina, and 2 gross wells in Peru. Approximately 59% of the drilling budget is for development and appraisal drilling and approximately 41% is for exploration drilling. The approved 2014 capital spending program also includes funds for 2,213 km of 2D and 228 km2 of 3D seismic acquisition programs in…
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