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Gran Tierra Upping Production, Dropping Well Costs
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Gran Tierra Energy Inc. announced its financial and operating results for the quarter ended March 31, 2016. All dollar amounts are in United States (U.S.) dollars unless otherwise indicated.
First quarter 2016 financial and operational highlights:Production:
Production for the quarter averaged 25,610 barrels of oil equivalent per day (BOEPD) gross working interest (WI) before royalties, or 22,788 BOEPD net after royalty (NAR), compared with 23,138 BOEPD gross WI and 19,741 BOEPD NAR in the fourth quarter of 2015. Sales volumes for the quarter were 25,430 BOEPD compared with 17,034 BOEPD in the Prior Quarter. Sales volumes increased due to higher working interest production (2,472 BOEPD), lower royalty volumes (575 BOEPD) and the effect of inventory changes (5,349 BOEPD). During April…- ✓ Full news archive — U.S., Canada & international coverage
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