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Canacol Energy Ltd CNNEF


Primary Symbol: T.CNE

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

Post by downwithdotcom1on Feb 22, 2024 10:10am
258 Views
Post# 35893091

Columbia apparently really needs new nat gas infrastructure

Columbia apparently really needs new nat gas infrastructure

and Canacol couldn't make that new pipeline happen??? interesting article below........dwdc

Colombia’s plan to start importing natural gas from Venezuela this year may not materialize because of a decayed idle pipeline in dire need of repairs.

Colombia’s domestic natural gas resources are not enough to meet growing demand, which has risen in recent years due to the El Nino, which has reduced hydropower generation and raised the need for gas-fired power.

At the end of 2022, Colombia’s leftist President Gustavo Petro announced that an agreement had been secured  to import gas from Venezuala. . This deal forms a key part of the president’s plans to end issuing new oil and gas exploration licenses in Colombia while guaranteeing the Andean country’s energy security. 

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