Welcome to our dedicated page for Canacol Energy news (Ticker: CNNEF), a resource for investors and traders seeking the latest updates and insights on Canacol Energy stock.
Canacol Energy Ltd. (CNNEF) maintains active exploration and production operations across Colombia, Brazil, and Guyana. This news hub provides investors with official updates on drilling results, regulatory developments, and strategic expansions in South America's energy sector.
Access timely reports on production milestones, government contract negotiations, and reserve updates from the Calgary-based operator. Our curated feed includes earnings disclosures, acquisition announcements, and operational guidance reflecting Canacol's focus on low-risk development opportunities.
Key updates cover exploration licensing rounds in Brazil, production optimization in Colombia's mature basins, and environmental compliance developments. Monitor progress across Canacol's portfolio through verified press releases and regulatory filings.
Bookmark this page for structured access to material disclosures from the company's Calgary, Bogota, and Rio de Janeiro offices. Check regularly for updates on participation in government tenders and operational expansions.
Canacol Energy Ltd. announced March 2023 natural gas sales of 182 million standard cubic feet per day (MMscfpd). The company is preparing to spud two wells: the Lulo 1 exploration well and the Clarinete 8 development well, targeting productive formations near its processing facilities.
Both wells are expected to spud in mid to late April 2023 and will take approximately four weeks to complete and production test. Canacol operates primarily in Colombia, trading under the ticker CNNEF on OTCQX.
Canacol Energy Ltd. (OTCQX: CNNEF) reported its financial and operating results for 2022, showing a mixed performance. Total natural gas revenues decreased by 3% to $65.1 million for Q4, while annual revenues rose by 9% to $264.9 million. Sales volumes declined 6% in Q4 but increased 1% for the year. The corporation recognized a significant net income of $133.7 million in Q4, largely due to a tax recovery from a corporate restructuring. However, adjusted funds from operations showed an outflow of $17 million in Q4, down from an inflow of $43.7 million in 2021. Canacol is focusing on exploration and increasing gas sales through infrastructure development.
Canacol Energy Ltd. will announce its fourth quarter and fiscal year 2022 financial results on March 27, 2023, after market close. Senior Management will discuss the results during a conference call on March 28, 2023, at 9:00 a.m. MST / 11:00 a.m. ET. Investors can access the call via dial-in or webcast. The financial results will be available on the company's Investor Relations website, and a replay of the call will be accessible until April 4, 2023. Canacol focuses on natural gas exploration and production in Colombia, with stock trading on TSX, OTCQX, and BVC under the symbols CNE, CNNEF, and CNEC.
Canacol Energy Ltd. reported its year-end reserves for 2022, highlighting a 7.5% increase in total proved plus probable (2P) reserves to 652 Bcfe, with a before-tax net present value (NPV) of US$1.9 billion. The company achieved a 169% reserve replacement ratio. Proved developed producing (PDP) reserves decreased by 31.5% to 161.6 Bcfe, while total proved (1P) reserves dropped by 7.9%. The report indicates a positive outlook with a significant number of identified prospects and successful exploration campaigns. The net asset value per share for 2P reserves stands at CAD$53.79.
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