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Amerisur Resources cuts capex citing oil price slump
February 2, 2015 / 8:01 AM / 3 years ago

Amerisur Resources cuts capex citing oil price slump

Feb 2 (Reuters) - Oil and gas company Amerisur Resources Plc cut its 2015 capital spending plan by 53 percent and temporarily suspended production from high-cost areas in its asset in Colombia, in response to the depressed crude oil prices.

The company now expects capital expenditure for the year of about $45 million, down from $95 million originally planned.

Amerisur, which has oil and gas exploration and production assets in Colombia and Paraguay, said the suspended production could be brought back online once crude oil prices recover. (Reporting by Abhiram Nandakumar in Bengaluru; Editing by Gopakumar Warrier)

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