Exploration & Production | Top Story | Forecast - Production
Production Hiccups Cause Petroamerica to Slash 2014 Guidance
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Petroamerica Oil Corp. has reported an update on production activities in the Putumayo Basin, guidance on the production for 2014 and announce the issuance of a new and updated corporate presentation.
Production GuidanceBased on current projections for production to the end of 2014, Petroamerica expects to exit the year with a production rate of more than 7,400 barrels oil equivalent per day of working interest production (before royalties). The total combined 2014 annual average production for the Llanos and post-closing Putumayo properties (after the July 15, 2014 closing date of the Suroco Energy Inc. transaction, annualized) is expected to be 6,600 boepd of working interest production (before royalties).
This guidance is below original 2014 expectations, primarily due to the…
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