Gran Tierra lifts annual output by 3.5%

Cheering results: Gran Tierra Energy sees increased output despite Colombia pipeline woes

Canada’s Gran Tierra Energy has lifted annual average production by about 3.5% to an 18,000 barrels of oil equivalent per day, based on preliminary figures.

The South America-focused explorer produced 17,408 boe per day in 2011.

Gran Tierra Energy said its exit rate was higher at around 18,600 boe per day, and that January saw an average of 21,000 boe per day produced.

Chief executive Dana Coffield said the explorer had set a new company record for annual output “in spite of unexpected challenges posed by substantial transportation downtime due to pipeline disruptions on the OTA pipeline in Colombia”.

The Ecopetrol-operated line was one of several in Colombia to be hit by guerrilla attacks, hampering the Toronto-listed outfit’s production.

Gran Tierra Energy has also lifted its proven and…

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