As consumers continue to feel the price at the pump and gas prices continues to fluctuate, there are many in the oil and gas industry that see the demand and welcome a change.
Last week oil industry executives and experts gathered for the Cambridge Energy Research Associates’ annual conference, one of the sector’s most impressive showings of energy industry clout outside of an OPEC meeting. The feeling among those gathered there was mutual as they believe that there is oil out there, “the hard part is getting it to consumers.”
In order to keep up with our consumption, oil companies such as Gran Tierra Energy must constantly look for new sources of petroleum, as well as improve the production of existing wells.
Gran Tierra Energy Inc is an independent international energy company involved in oil and natural gas exploration, development and production. The company operates in South America and holds interests in producing and prospective properties in Argentina, Colombia and Peru. They have adopted a strategy to focus on establishing a portfolio of drilling opportunities to exploit undeveloped reserves to grow production, as well as undertake exploration to grow future reserves.
The company believes that this year will be a pivotal time for the company on an operational front as they continue to expand its interest in South America. They are also looking at new drilling opportunities in Peru and Argentina.
Gran Tierra has also met the requirements needed to be listed on the Toronto Stock Exchange and as of earlier this week has started trading under the symbol GTE. While this is a great step in furthering the growth and visibility of the company, it will now have to compete on the field and on the boards with companies like First Calgary Petroleum (TSE:FCP), Canadian Superior Energy Inc. (TSE:SNG) and Canadian Natural Resources Limited (TSE:CNQ), all industry related securities trading on the Toronto Exchange.
The company seems to delivering good news to its investors, and if they can continue the momentum, they may be able to build the solid foundation that the company needs to grow its business and close the gap on consumer demand for oil.
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