Exploration & Production | Capital Markets | Capital Expenditure
Gran Tierra Plans Llanos, Neuquen Basin Activity for 2013
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Gran Tierra Energy Inc. has reported a 2013 capital spending program of $363 million for its exploration and production development operations in Colombia , Brazil , Peru and Argentina.
The capital spending program allocates $202 million for drilling, $65 million for facilities, equipment and pipelines, $93 million for seismic activities and $3 million associated with corporate activities. The budget currently contemplates the drilling of 10 wells in Colombia , 6 wells in Argentina , 2 wells in Brazil and 1 well in Peru . Approximately 50% of the drilling budget is for development and appraisal drilling, and approximately 50% is for exploration drilling. The approved 2013 capital spending program also includes funds for 1,148km of 2D and 308km2 of 3D seismic acquisition programs in…
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