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Gran Tierra's Focus on Colombia Spurs $45 MM Capex Increase
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Gran Tierra Energy Inc., has announced its financial and operating results for the quarter ended June 30, 2015.
Financial and Operating Highlights:
Oil and natural gas production for the quarter exceeded Company projections as announced on May 7, 2015. Production averaged 23,094 barrels of oil equivalent per day (BOEPD) gross working interest (WI) before royalties, or 18,494 BOEPD net after royalties (NAR), compared with 24,015 BOEPD gross WI and 20,140 BOEPD NAR in the first quarter of 2015. Approximately 99% of this production was oil with the balance consisting of natural gas. Company maintains strong balance sheet with cash and cash equivalents of $166.4 million and working capital (including cash and cash equivalents) of $199.6 million at June 30, 2015. The Company's cash balance…- ✓ Full news archive — U.S., Canada & international coverage
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