* Putumayo Basin output lower due to pipeline disruption
* Repairs expected to take about two weeks
* Says Moqueta-2 well oil column thicker
Aug 26 Gran Tierra Energy Inc (GTE.TO) said on
Thursday oil bearing zones at its Moqueta-2 well in Colombia
are more productive than the first well, but said production
from the Putumayo Basin in southern Colombia has been reduced
due to a pipeline disruption.
The Canadian oil exploration and production company said
repairs are expected to take about two weeks, during which net
production is seen between 5,000 and 7,000 barrels of oil per
Gran Tierra, which is the operator of the Chaza Block in
Colombia, said the oil column is also thicker at Moqueta-2.
Well flows were up to 1,077 (bopd) from two zones of the well
without pumps, the company said, adding that no oil-water
contacts were found.
Long-term oil testing and early production is expected in
the first quarter of 2011, the Calgary, Alberta-based company
said in a statement.
Moqueta-3 is expected to be spud in mid-September, while
Moqueta-4 is likely to be spud in early December, the company
Shares of the company, which also operates in Argentina and
Peru, closed at C$6.40 Wednesday on the Toronto Stock Exchange.
They have gained 21 percent in the last three months.
(Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by