June 11, 2012 / 1:37 PM / in 5 years

UPDATE 1-Gran Tierra says Colombia pipeline disruptions hit May output

June 11 (Reuters) - Oil and gas producer Gran Tierra Energy Inc said fresh disruptions at the Oleoducto Transandino (OTA) pipeline in Colombia reduced production and sales in May.

Production, after royalties, averaged about 18,000 barrels of oil equivalent per day (boe/d) in April and May, the company said in a statement.

The South America-focused company in February maintained its 2012 production forecast of 20,000-21,000 boe/d after royalties.

Gran Tierra's first-quarter production and sales were impacted by about 26 days of oil delivery restrictions due to three disruptions at the pipeline.

The pipeline operated by Colombia's state oil company Ecopetrol SA runs through Bolivia, Colombia, Ecuador and Peru.

Ecopetrol's pipelines, including OTA, have been attacked by guerrillas, resulting in unscheduled shut-downs, the company said in an April 30 regulatory filing.

Gran Tierra, which also has operations in Argentina, Peru and Brazil, said on Monday output is expected to return to normal levels by mid-June.

The company also abandoned its Los Incas x-1 exploration well in the Puesto Guevara block in Argentina after little oil was found there.

Gran Tierra is the operator of the Puesto Guevara block in the Neuquen basin.

Shares of the Calgary-based company were up 3 Canadian cents at C$5.11 on Monday on the Toronto Stock Exchange.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below