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Stock Market & Financial Investment News

News Breaks
January 7, 2013
05:23 EDTGTEGran Tierra Energy announces successful oil flow tests in Columbia, Argentina
Gran Tierra Energy provided updates for its exploration and operation activities in Colombia, Argentina, Peru and Brazil. "Gran Tierra Energy has confirmed additional resource potential with successful oil flow testing of the Moqueta-7 appraisal well at the Moqueta oil discovery in Colombia, which we are continuing to evaluate with the recently drilled Moqueta-8 appraisal well. We have yet to define the boundaries of the growing field, and are currently planning the next three wells to continue the appraisal program in the first half of 2013." said Dana Coffield, president and CEO of Gran Tierra Energy. "In addition, Gran Tierra Energy has successfully completed its first multi-stage fracture stimulated horizontal well. This successful application of technology to a new tight reservoir in Argentina has delivered outstanding results, and the experience from this well will serve us well as we expand the application of this technology to our drilling program in Brazil," concluded Coffield.
News For GTE From The Last 14 Days
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June 25, 2015
10:00 EDTGTEOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AT&T (T) upgraded to Buy from Neutral at BofA/Merrill... Eli Lilly (LLY) upgraded to Buy, added to US 1 List at BofA/Merrill... Finish Line (FINL) upgraded to Buy from Neutral at B. Riley... Gran Tierra (GTE) upgraded to Buy from Hold at Canaccord... Greenhill & Co. (GHL) upgraded to Buy from Sell at Goldman... Magnum Hunter (MHR) upgraded to Equalweight from Underweight at Capital One... Marathon Oil (MRO) upgraded to Buy from Neutral at UBS... Newpark Resources (NR) upgraded to Strong Buy from Outperform at Raymond James... Office Depot (ODP) upgraded to Outperform from Market Perform at Telsey Advisory... Quanex (NX) upgraded to Outperform from In-Line at Imperial Capital... Vestas Wind (VWDRY) upgraded to Outperform from Neutral at Exane BNP Paribas... Web.com (WWWW) upgraded to Buy from Neutral at B. Riley... NRG Yield upgraded to Outperform from Market Perform at Avondale.
06:31 EDTGTEGran Tierra upgraded to Buy from Hold at Canaccord
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June 24, 2015
17:32 EDTGTEGran Tierra increases 2015 capital program and increases production outlook
Gran Tierra increased its 2015 capital program by $45M to $185M. The increased capital is intended to provide accelerated development drilling at the company's core producing assets in the Putumayo Basin in Colombia and accelerate the required laboratory and feasibility studies for enhanced oil recovery techniques in the Costayaco and Moqueta fields. During Q1, the company incurred $74M of the $140M 2015 capital program. The allocation of capital includes a $55M increase to $115M directed at Colombia development, at negotiated reduced services costs. These drilling programs are expected to continue into 2016. Peru's capital program has been reduced to $49M, of which $11M is expected to be incurred during the remainder of 2015. Brazil's capital program has been reduced to $20M of which $6M is expected to be incurred during the remainder of 2015. With the revised capital program, Gran Tierra expects 2015 gross working interest production of 22,500-23,500 BOEP/D from 21,800-22,300 BOEP/D under the previous capital program, or 18,400-19,400 BOEP/D net after royalty from 18,200 BOEP/D under the previous capital program. Production from Colombia is expected to be 17,850 BOEPD NAR.

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