Gran Tierra Energy temporarily reduces production operations in Putumayo basin of Colombia in response to pipeline disruption
Gran Tierra Energy Inc. (NYSE Amex: GTE, TSX: GTE), a company focused on oil exploration and production in South America, today announced that it has temporarily reduced production operations in the Putumayo basin in southern Colombia in response to a disruption to the Ecopetrol-operated Trans Andean Pipeline west of Orito on July 10, 2009.
"Ecopetrol has informed us that repairs are expected to take between one and two weeks," said Dana Coffield, President and Chief Executive Officer of Gran Tierra Energy. "We will continue producing at reduced levels utilizing trucking capacity until repairs are completed. We expect to be able to return to normal production levels immediately following the completion of repairs."
Gran Tierra Energy expects to maintain Colombian production levels at approximately 2,000 barrels of oil per day (BOPD) net after royalty utilizing existing trucking capacity during the repair period. Additional oil transportation alternatives are currently being assessed.
The suspension of production operations has had no impact on drilling operations. Drilling of Costayaco-9 will commence today.
UPDATE 1-Gran Tierra cuts Colombia basin output temporarily
* Production cut due to disruption to Trans Andean pipeline
* Sees maintaining Colombian production at 2,000 BOPD
July 16 (Reuters) - Gran Tierra Energy Inc , a Canadian oil and gas exploration company, said it temporarily reduced production at the Putumayo basin in Colombia due to a disruption to the Ecopetrol-operated Trans Andean pipeline on July 10.
"Ecopetrol has informed us that repairs are expected to take between one and two weeks," Chief Executive Dana Coffield said in a statement.
The company said it expects to maintain Colombian production levels at about 2,000 barrels of oil per day (BOPD) net after royalty utilizing existing trucking capacity during the repair period.
The suspension of production operations has had no impact on drilling operations and drilling of its well Costayaco-9 will begin on Thursday, the company said in a statement.
Gran Tierra cuts output due to pipeline damage
TORONTO, July 16 (Reuters) - Gran Tierra Energy Inc said on Thursday it has cut oil production in southern Colombia while pipeline operator Ecopetrol makes repairs on its Trans Andean Pipeline.
Calgary, Alberta-based Gran Tierra said Ecopetrol expects repairs to take between one and two weeks.
"We will continue producing at reduced levels utilizing trucking capacity until repairs are completed. We expect to be able to return to normal production levels immediately following the completion of repairs," Dana Coffield, president and chief executive of Gran Tierra, said in a release.
