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Associated equity: Canacol Energy
Edison Investment Research is terminating coverage on Canacol (CNE). Please note you should no longer rely on any previous research or estimates for this company. All forecasts should now be considered redundant.
Canacol Energy — 1 video in collection
Canacol Energy is an E&P company with operations across 23 blocks and 2.5m net acres across Colombia and Ecuador. Management expects to increase Colombian, Caribbean Coast gas market share from 5% today to c 32% by the end of the decade. Production operations benefit from long-term gas contracts, and low operating costs at US$0.3/mcf drive peer-leading netbacks of a reported US$4.54/mcf. Management focus remains on growth and cash generation, with capital being directed towards a diverse mix of portfolio opportunities, including expanding the company’s contracted gas base, growing contingent gas inventory (organic and inorganic), monetisation of light oil reserves as oil prices rise, and early-stage exploration of prospective shale acreage.
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