Oil and Gas

Gran Tierra Tests Polymer Injection Process to Enhance Oil Recovery at Acordionero

Oil and Gas Investing
Gran Tierra Energy President & CEO Gary Guidry

“It's much easier to spend the money on the technical effort to get every last drop out of each field," said Garry Guidry, president and CEO of Gran Tierra Energy.

Gran Tierra tests polymer injection process to enhance oil recovery at Acordioneroyoutu.be

Oil and gas explorer and producer Gran Tierra Energy (TSX:GTE,NYSE:GTE,LSE:GTE) is looking to maximize its resource assets in Colombia and Ecuador through an enhanced oil recovery process, according to President and CEO Gary Guidry.

The enhanced recovery process, which involves injecting polymer into waterflood patterns, is being implemented at the company's Acordionero project in Colombia as a pilot project.

“The single most important thing about enhanced recovery and that mindset of, ‘We're not just going to produce fields on primary production and be happy with a low to medium recovery factor’ is that it's much easier to spend the money on the technical effort to get every last drop out of each field,” Guidry explained.


Gran Tierra has allocated US$70 million in capital towards 2022 development activities for the Acordionero field, which includes 14 to 16 development wells in the Middle Magdalena Valley basin. The polymer pilot project will determine whether this process of enhanced oil recovery will be successful in increasing Acordionero’s ultimate oil recovery factors and remaining oil reserves.

“A philosophy of our company is to try to be as efficient as we can, not only on cost structure … but also to apply the technology in each field, because it's the best use of the investors’ money to try to get every last drop out of each field,” Guidry said.

Gran Tierra operates four key projects in Colombia and Ecuador: its flagship Acordionero project and the Costayaco, Moquete and Suroriente projects. Guidry said when it comes to investment, both countries are stable jurisdictions in which to conduct exploration and production, providing fiscal stability, access to infrastructure and sound business environments.

Watch the full interview with Gary Guidry, CEO of Gran Tierra Energy.

Disclaimer: This interview is sponsored by Gran Tierra Energy (TSX:GTE,NYSE:GTE,LSE:GTE). This interview provides information that was sourced by the Investing News Network (INN) and approved by Gran Tierra Energy in order to help investors learn more about the company. Gran Tierra Energy is a client of INN. The company’s campaign fees pay for INN to create and update this interview.

INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.

The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Gran Tierra Energy and seek advice from a qualified investment advisor.

This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.

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