GTE - Gran Tierra Energy shuts some Colombia wells amid protests

Gran Tierra Energy (GTE) -2.6% pre-market after saying it had shut ~5,250 bbl/day of oil production because of widespread protests and blockades in Colombia, lowering the company's total current production by nearly 18% at 24,350 bbl/day.The company says blockades of key roads in recent days have started to cause the temporary shut-in of some oil wells and oil fields in the country.Gran Tierra says it would be able to restore the shut-in production in 1-2 weeks if blockades of transportation routes end.If the blockades are lifted within the next two weeks, the company would maintain full-year production guidance of 28K-30K bbl/day, but if the current situation worsens, additional production may be shut.Gran Tierra's performance is improving, and the company appears more stable than a year ago, Inversiones Apartado writes in a bullish analysis posted recently on Seeking Alpha.

For further details see:

Gran Tierra Energy shuts some Colombia wells amid protests