After the PetroLatina's acquisition, GranTierra Energy Inc. (GTE) continues to make small accretive acquisitions, aiming to expand through exploration and enhanced oil recovery. During the third quarter of 2018, the company acquired a 45% of working interest in the Putumayo-1 block and 60% of the VMM-2 block in the Middle Magdalena Valley region. Both blocks are located in Colombia, adding 5.2 million of proved and probable barrels. However, the company's operation continues to be mostly located in Colombia's Middle Magdalena Basin. GTE has kept steady operating cost levels with an average cost of $10 dollars per barrel, which have been below of the peer average of $15 dollars per barrel. This has been mainly because of the company's very low
