Gran Tierra's Grand Tour (into Ecuador)

Gran Tierra has won three blocks in Ecuador covering c.140,000 acres in the highly prospective Oriente-Putumayo Basin: Charapa, Chanangue and Iguana. The blocks are contiguous with Gran Tierra’s Putumayo position in Colombia and allows the company to extend its Colombian success on the trend across the border. Gran Tierra will have 100% interest and operatorship on each block in exchange for a 14 well, four year work programme – management...

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Putumayo smart crude marketing

Putumayo producers are blessed with having multiple export routes and the flexibility that affords in maximising sales netbacks. The most direct route is the OTA pipeline to Tumaco. However this route has historically been plagued by attacks leading to downtime and the South Blend crude at Tumaco also fetches one of the biggest discounts to benchmarks vs. other region blends. This has led to producers accessing Ecuadorian export routes...

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Gran Tierra the Consolidator

On 30 March, Gran Tierra announced the private offering of USD100 million convertible notes which successfully closed on 6 April. The new funds will allow Gran Tierra to accelerate its exploration programme and places the company in a strong position to act as consolidator in Colombia. Gran Tierra completed two acquisitions in Q1 2016, building out its portfolio particularly in the Putumayo Basin of southern Colombia and supplementing its interests in the Costayaco and Moqueta fields. With development drilling on Costayaco and Moqueta due to end...

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Gran Tierra strikes again

On 15th January, Gran Tierra announced the acquisition of PetroGranada’s interest in the highly prospective Putumayo-7 Block, southern Colombia. The acquisition increases the company’s interest in the block to 100% and adds two more drill ready prospects to the inventory of lower risk prospects established through the recently closed Petroamerica acquisition. Gran Tierra will acquire all of the issued and outstanding shares of PetroGranada (which holds 50% in Putumayo-7) for USD19 million. In addition Gran Tierra  will pay a further USD4...

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Gran Tierra's little pain

Gran Tierra is a TSX and NYSE listed E&P with a focus on Colombia. Its main assets are the Costayaco and Moqueta fields in the Putumayo Basin which accounted for 88% of the company’s Colombian NAR production of 18.4mboe/d in 2014. The company also has an exploration portfolio in Brazil (supported by minimal production of 900bbl/d NAR in 2014) and Peru. In March 2015, Gran Tierra announced that it was suspending development operations on...

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