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Colombia-focused Gran Tierra Energy has completed drilling its Moqueta-17 development well in the Chaza block in the Putumayo basin, the company said during a Q1 earnings call.
However, drilling of the Moqueta-18 well has been suspended due to surface drilling restrictions.
The company is currently testing the Zapatero-1 well with initial injectivity reported at 2,500b/d.
Gran Tierra expects to achieve up to US$5mn of additional operating cost savings in Colombia in 2015 a result of use of gas for power generation and renegotiated supply and service contracts.
The firm spent US$74mn of its planned US$140mn capex during the first quarter.
It intends to spend US$55mn of the remaining total on the expansion of its block 107 project in Peru this year.
The company's production averaged 24,015boe/d during Q1. Revenue and other income reached US$76.7mn for the quarter, a 50% drop from the US$152mn seen during the same period of last year.