Page 15 - 2020 Sustainability Report - Gran Tierra Energy
P. 15

Operations
Leading up to 2020, GTE had accomplished its multiyear goal of consolidating a number of assets in underexplored and underdeveloped areas in Colombia’s Putumayo and Middle Magdalena Valley basins and had also expanded its portfolio through exploration. This strategy resulted in significant resource potential for the benefit of all company stakeholders.
GTE responded to the dramatic shift in crude oil prices and constraints imposed by the COVID-19 pandemic by rapidly optimizing its asset base and cost structure. This has ensured short-term business continuity and positioned the company for long-term sustainability regardless of future economic conditions.
As crude prices stabilized, GTE resumed development and preventative maintenance activities across its operations, including ongoing well workover operations and
the restart of development drilling at
the Acordionero field. The company
also restarted workover operations at Costayaco and is planning new development drilling in that field to support Colombia’s sustainable reactivation plans to create
jobs and increase GDP in 2021.
  Zero Days Suspended Due to COVID-19
2020 Production Highlights
Acordionero
Total Proved Reserves of Oil and Gas (MMBOE)
Total Proved Plus Probable Reserves of Oil and Gas (MMBOE)
79
133
174
22,624
7
0
7
      Total Proved Plus Probable Plus Possible Reserves of Oil and Gas (MMBOE)
    Costayaco
COLOMBIA
Total Company Average (BOEPD)
Development Wells Drilled
Exploratory Wells Drilled
Total Wells Drilled
        Suroriente
      Moqueta
   eCOnOMIC DeVeLOPMenT
13
  



































































   13   14   15   16   17