Last C$7.95 CAD
Change Today -0.02 / -0.25%
Volume 1.9M
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As of 4:00 PM 07/10/14 All times are local (Market data is delayed by at least 15 minutes).

gran tierra energy inc (GTE) Snapshot

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52 Week High
03/24/14 - C$8.69
52 Week Low
07/31/13 - C$6.16
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gran tierra energy inc (GTE) Details

Gran Tierra Energy Inc., an independent energy company, is engaged in the acquisition, exploration, development, and production of oil and gas properties in Colombia, Peru, and Brazil. The company’s acreage includes 3.4 million gross acres covering 17 exploration and production contracts in Colombia; 5.8 million gross acres covering 5 exploration licenses in Peru; and 47,734 gross acres covering 7 exploration blocks in Brazil. The company was incorporated in 2003 and is headquartered in Calgary, Canada.

520 Employees
Last Reported Date: 02/26/14
Founded in 2003

gran tierra energy inc (GTE) Top Compensated Officers

Chief Executive Officer, President, Executive...
Total Annual Compensation: $963.7K
Chief Financial Officer and Principal Account...
Total Annual Compensation: $587.6K
Chief Operating Officer
Total Annual Compensation: $714.6K
President of Gran Tierra Energy Colombia Ltd
Total Annual Compensation: $550.9K
Vice President of Legal, General Counsel and ...
Total Annual Compensation: $545.3K
Compensation as of Fiscal Year 2013.

gran tierra energy inc (GTE) Key Developments

Gran Tierra Mulls Acquisitions

Gran Tierra Energy, Inc. (AMEX:GTE) is looking to further develop existing assets and potentially consider making acquisitions in its core operational area of Colombia.

Gran Tierra Energy Inc. Announces Executive Changes, Effective September 1, 2014

Gran Tierra Energy Inc. announced that on June 25, 2014, Shane O'Leary, Chief Operating Officer of the company, informed the Board of Directors of Gran Tierra Energy of his definitive determination to retire. Gran Tierra Energy and Mr. O'Leary currently expect that Mr. O'Leary will cease to be Chief Operating Officer on September 1, 2014, that his retirement date will be October 1, 2014, and that Mr. O'Leary will continue as a consultant to Gran Tierra Energy from October 1, 2014, to December 31, 2014, pursuant to a consulting agreement to be negotiated, at a rate of CAD 225 per hour. Effective on the date Mr. O'Leary ceases to be Chief Operating Officer, currently contemplated to be September 1, 2014, Duncan Nightingale, President of Gran Tierra Energy Colombia Ltd., will become Gran Tierra Energy's Chief Operating Officer. It is currently contemplated that Mr. Nightingale will cease to be President of Gran Tierra Energy Colombia Ltd. on August 1, 2014, to allow him to prepare for the role of Chief Operating Officer and to support Adrian Coral in his promotion to President of Gran Tierra Energy Colombia Ltd. Mr. Nightingale joined Gran Tierra Energy in September 2009, where he served in its Calgary, Canada office as its Vice President of Exploration from September 2009 to January 2011. Prior to joining Gran Tierra Energy, Mr. Nightingale was Senior Vice President, Exploration & Production, at Artumas Group Inc.

Gran Tierra Energy, Inc. Provides South America Drilling Operations Update

Gran Tierra Energy, Inc. provided an operations update for its 2014 work program. Testing of the newly-drilled Bretaña water disposal well indicates moveable oil saturation in the transition zone where no reserves had been assigned previously, with potential for adding substantial additional recoverable resources in the field. Completion of the well also keeps the company on track to initiate the Long Term Test in the fourth quarter of this year. The Zapotero-1 well was drilled approximately 2,000 feet lower than the lowest known oil on the Moqueta structure. The Zapotero-1 well tested three zones that resulted in produced water. The company is currently investigating if the Zapotero-1 well can be converted to a water injection well to maintain reservoir pressure at the Moqueta field to enhance production in the field. This well result also assists in planning the target depth for the Corunta exploration well that will be drilled on the opposite flank of Moqueta later this year. The well will target an intermediate depth, below the lowest known oil in the Moqueta field and shallower than the reservoirs in Zapotero-1, to further define the oil-water contact location and ultimate size of the Moqueta oil accumulation. Peru: Block 95, Bretaña Field: The Bretaña-1WD water disposal well was spud on April 10, 2014, and reached a total true vertical depth of 10,038 feet on May 17, 2014. Modular Dynamics Testing was conducted to investigate a thick oil-water transition zone where reserves have not previously been assigned. Oil was recovered from the transition zone with preliminary analysis suggesting approximately two meters of additional pay for the field, which should have a positive impact on recoverable oil resource in the Bretaña field due to the large aerial extent of the reservoir in the structure at that depth. Colombia, Chaza Block, Putumayo Basin: The Zapotero-1 exploration well reached a total true vertical depth of 7,549 feet. Production testing of the well indicates the presence of water in the Villeta T and U Sandstones, and in the Caballos formation. Gran Tierra Energy is now investigating a possible pressure communication between Zapotero-1 and Moqueta-3, and the potential to convert Zapotero-1 into a water injector to enhance production from the Moqueta field.


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