(Corrects headline and first three paragraphs to show that the company raised, not cut, its full-year production outlook to account for some newly acquired assets)
* Sees FY prod of 17,500-19,000 boe/d
* Raises capex to $355 mln from $299 mln
* To spend about $55 mln on new assets
April 11 (Reuters) - Gran Tierra Energy Inc raised its full-year production outlook and capital expenditure budget to account for the assets of Petrolifera Petroleum Ltd , which it bought in January.
Including the Petrolifera assets, Gran Tierra sees average production of 17,500-19,000 barrels of oil equivalent (boe/d) per day, net after royalty.
In late December, the company had forecast production of 16,000 to 18,000 boe/d net after royalty.
The Calgary-based company, which has assets in Colombia, Argentina and Peru, raised its capital expenditure for the year by about 19 percent to $355 million.
The company, which expects to spend about $55 million on the newly acquired assets, will fund its new capital program from existing cash reserves and cash flow, it said in a statement.
Gran Tierra acquired Petrolifera Petroleum in a $151 million deal in January, bringing together a pair of Canadian-based companies exploring for oil in South America. [ID:nN178894]
Shares of the company closed at C$7.65 on Friday on the Toronto Stock Exchange. (Reporting by Arnika Thakur in Bangalore; Editing by Vyas Mohan)