Coelacanth Stock Price, News & Analysis

Coelacanth Energy has released its Q4 2024 and full-year financial results, highlighting significant operational milestones at its Two Rivers Montney Project. Key developments include:

- Completion of three Lower Montney wells with average test production of 1,624 boe/d (61% light oil) and one Upper Montney well producing 1,338 boe/d (54% light oil)
- Secured $52.0 million in revolving bank credit facilities
- Substantial completion of pipeline construction connecting 5-19 pad to Two Rivers East facility

Financial highlights for Q4 2024:
- Oil and natural gas sales: $4,544,000 (8% increase YoY)
- Net loss: $2,903,000
- Daily production: 1,084 boe/d (17% increase YoY)
- Operating netback: $24.46/boe

Coelacanth Energy reports successful testing of 4 new wells at Two Rivers East Project. Three Lower Montney wells achieved average rates of 1,624 boepd per well, including 989 bbls/day of light sweet oil and 3.8 mmcf/d of liquids-rich gas, exceeding previous well performance. The Upper Montney well reached 1,136 boepd with 271 bbls/d of light oil and 5.2 mmcf/d of liquids-rich gas, marking a significant 10-mile step-out from Two Rivers West project. The company is constructing facilities to handle up to 60 mmcf/d of gas, with initial testing expected in late April 2025.

Coelacanth Energy (TSXV: CEI) reported its Q3 2024 financial results with oil and natural gas sales of $2.36 million, up 248% from Q3 2023. The company's daily production increased to 829 boe/d, a 313% rise year-over-year. Despite higher revenues, the company recorded a net loss of $2.46 million. Coelacanth initiated construction of an $80 million infrastructure project including 35km of pipelines and a facility capable of handling 16,000 boe/d, expected to be operational by mid-April 2025. The company secured $52 million in debt financing through two revolving bank credit facilities, with $35 million allocated for four new Montney wells and a water disposal well.

Coelacanth Energy Inc. (TSXV: CEI) has announced a $52 million revolving bank credit facility and the commencement of a 4-well drilling program at Two Rivers East. The program includes drilling and completing 3 Lower Montney wells, completing 1 previously drilled Upper Montney well, and drilling a Bluesky disposal well, with a total cost of approximately $36 million. The company has also secured a $22 million commitment from a Mid-Stream company to finance a pipeline. Coelacanth estimates it will have approximately $40 million net debt plus the mid-stream commitment once the drilling program is completed and the facility is operational. The company's production is expected to stabilize at over 6,000 boe/d until additional wells are drilled in summer 2025. Additionally, Coelacanth plans to extend the expiry date of its share purchase warrants to June 30, 2025.

Coelacanth Energy Inc. (TSXV: CEI) has released its Q2 2024 financial and operating results. Key highlights include:

- Oil and natural gas sales increased 283% to $3.16 million in Q2 2024 compared to Q2 2023
- Adjusted funds flow improved to $262,000 in Q2 2024 from -$756,000 in Q2 2023
- Average production grew 229% to 944 boe/d in Q2 2024 vs Q2 2023
- Operating netback improved to $15.10/boe in Q2 2024 from -$0.49/boe in Q2 2023

The company is progressing its Two Rivers Montney Project, with construction of the Two Rivers East infrastructure to begin soon. The facility is expected to handle up to 16,000 boe/d and start up in April 2025. Coelacanth has secured financing and believes the project is on schedule and budget.

Coelacanth Energy has received all necessary regulatory approvals for the construction of infrastructure at its Two Rivers East Project. The company will build a new battery facility for gas compression/dehydration, oil treating, and water handling. Estimated costs for the project are $80 million, with $50 million allocated to the facility. Manufacturing has started, with construction expected to run from fall 2024 to April 2025. The project, anchored by the Lower Montney, has estimated initial production of 4,500 boe/d from five wells.

Additionally, Coelacanth finalized an agreement with NorthRiver Midstream for up to 60 mmcf/d of firm processing service over 10 years at NRM's McMahon gas processing facility. NRM will fund an extension of its gathering system to connect with Coelacanth's new facility. The company has secured long-term takeaway capacity of over 60 mmcf/d of gas into the Westcoast system.

Coelacanth Energy announces its Q1 2024 financial and operating results. Key figures include a 284% increase in oil and natural gas sales to $3.666 million, and a net loss reduction of 33% to $1.201 million compared to Q1 2023. Daily production rose by 242% to 993 boe/d. Operating netback per boe surged by 521% to $18.06. The company reported adjusted working capital of $67.1 million and no debt.

Coelacanth's Two Rivers Montney project showed promising results with successful pad tests and ongoing licensing for infrastructure construction slated for completion by Q1 2025. The company secured long-term transportation and processing capacities to support future growth.