Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/gran-tierra-implements-structural-cost-cutting-mea.shtmlGran Tierra implements structural cost cutting measures
Gran Tierra Energy Inc. announces cost reductions in line with its strategy to preserve its strong balance sheet and maximize potential
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Gran Tierra Energy Inc. announces cost reductions in line with its strategy to preserve its strong balance sheet and maximize potential for future growth. All dollar amounts are in United States dollars unless otherwise indicated.
In addition to recently announced reductions in 2015 capital expenditures, the Company has focused on reductions to Gran Tierra's operating expenses and general and administrative costs and lower service and transportation costs. These cost reduction initiatives and increased working efficiencies will allow the Company the flexibility and financial capacity to react to opportunities that may arise from a continuing low oil price environment as well as to be able to quickly return to drilling from its own inventory in an improving price scenario.
