Expects 2023 cash flow of $270M-$320M in base case. Plans to drill 18-23 Development Wells and 4-6 Exploration/Appraisal Wells. Forecasts 2023 production of 32,000-34,000 BOPD, an increase of 8% from 2022 and 24% from 2021. Forecasts 2023 free cash flow of $135M before exploration, $65M after exploration in base case. Gary Guidry, President and CEO of Gran Tierra, commented: "Our teams’ excellent work throughout 2022 has strongly positioned the company for continued development and enhanced oil recovery activities in 2023 to optimize the value from each of our producing assets in Colombia. In addition, we plan to allocate about 30% of our 2023 capital program to prioritized exploration drilling opportunities in Colombia and Ecuador to follow up on our exciting initial exploration results in that 2022."
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on GTE:
- Gran Tierra Energy Inc. Announces 2023 Guidance
- Gran Tierra Energy Inc. Provides Operational and Financial Update
- Gran Tierra Energy Inc. Announces Third Quarter 2022 Results
- Gran Tierra Energy Inc. Provides Release Date for its 2022 Third Quarter Results and Details of Conference Call and Webcast
- Gran Tierra Energy Inc. Provides Operational and Financial Updates
