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.

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Canacol Energy Ltd > Valuation

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Comment by Thechaseron Sep 11, 2024 11:05am

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Post# 36218533

RE:Valuation

The recent Q2 2024 results reflect positive progress, with adjusted funds from operations up 70% and EBITDAX increasing by 21% compared to 2023. While there are some concerns, like dividend suspension and country risk, it's clear the company is capitalizing on higher gas prices, which averaged $6.84/Mcf. Additionally, the Bolivia investment is relatively small, and gas production has been stable. We now have two quarters of solid data for 2024, showing that the company is managing risks while improving profitability.

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