GTE:CC - Gran Tierra Q4 oil production rises; FY22 production ~30800 BOPD meets guidance targets
- Gran Tierra ( NYSE: GTE ) sees Q4 2022 total company average production of ~32,600 BOPD, an increase of 10% from Q4 2021.
- Also expects strong exit with total company average production during December 2022 of ~33,800 BOPD.
- Gran Tierra’s total average production for the full year 2022 was ~30,800 BOPD which is within the company’s prescribed guidance.
- Moqueta development campaign underway with second development well spud.
- First Moqueta development well yielding encouraging results.
- The company bought back 23M Gran Tierra shares of common stock during 2022.
- As part of Gran Tierra’s focus on significant debt reduction, the Company reduced its total debt by $87.6M in 2022 and by a further $122.5M in 2021, for a reduction of total debt of $210.1M over the past two fiscal years.
- Shares are down 2.07% after-hours.
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Gran Tierra Q4 oil production rises; FY22 production ~30,800 BOPD meets guidance targets