Gran Tierra Energy Inc. (GTE) Issues 2011 Oil and Gas Budget
Gran Tierra Energy Inc. announced the company will spend $299.2 million in 2011 on its oil and gas program. The funds will be used for exploration and development on the company’s properties in South America, including Colombia, Peru, Argentina and Brazil. Gran Tierra Energy Inc. plans to spend $146.9 million on drilling and completion of oil and gas wells. This capital will cover the drilling of twenty one wells during 2011. The company has allocated the majority of this capital for its program in Colombia, where it plans ten wells in 2011. Gran Tierra Energy Inc. also plans to drill…