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Canacol Energy Ltd T.CNE

Alternate Symbol(s):  CNNEF

Energy Oil & Gas E&P
Canacol Energy Ltd. is a Canada-based natural gas exploration and production company with operations focused on Colombia. The Company’s production primarily consists of natural gas from the Esperanza, VIM-5 and VIM-21 blocks located in the Lower Magdalena Valley basin in Colombia. The Company’s production also included crude oil from its Rancho Hermoso block in Colombia (Colombia oil). It supplies approximately 17% of the country’s gas needs and more than 50% of the Caribbean Coast’s gas demand. Its gas fields which produce from the Cienaga de Oro and Porquero proven reservoirs are connected to its central Jobo gas processing and treatment facility through more than 169 kilometers of flow lines, mainly flexible steel flow lines. It operates over 1.5 million net acres in 14 exploration and production contracts in Colombia, with 11 of these contracts focused on exploring for and developing natural gas. These blocks are all located in the Lower & Middle Magdalena Basins of Colombia.


TSX:CNE - Post by User

Canacol Energy Ltd
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Post by I1thedave2oo6on Nov 11, 2015 2:54pm
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Post# 24282115

Canacol 90 MMscfpd 2016 15,000 Barrels daily eq. + Oil

Canacol 90 MMscfpd 2016 15,000 Barrels daily eq. + Oil ..

Canacol is also pleased to report that it has recently signed new gas sales contracts, bringing the new total 2016 maximum contracted gas to 90 MMscfpd upon the completion of the previously announced Promigas pipeline. The anticipated average contracted gas sales volumes for 2016 is now approximately 81 MMscfpd, as adjusted by the Promigas pipeline schedule discussed below. The average price of the 2016 natural gas sales contracts has now increased to approximately US$5.50/Mcf. The Corporation is seeing very strong demand for its natural gas in light of declining existing production in the region, as well as increasing thermo-electric growth at least partially driven by current El Nino conditions in the region.


Read more at https://www.stockhouse.com/companies/bullboard/bullboard/t.cne/canacol-energy-ord#RLvCzCegTHYJyhyM.99...
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