Canacol Energy (TSX: CNE)

Currency in CAD

Last close As at 22/09/2023

CAD11.40

−0.70 (−5.79%)

Market capitalisation

CAD384m

Canacol Energy is a natural gas exploration and production company primarily focused on Colombia.

Colombia is running out of gas and is increasingly reliant on imports of expensive LNG. Canacol is well placed with significant uncontracted gas reserves and resources. The advent of El Nino this year could trigger increased demand for gas.

Latest Insights

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Oil & Gas | Flash note

Canacol Energy — 2022 ESG report highlights new goals

Oil & Gas | Flash note

Canacol Energy — Q2 results in line

Oil & Gas | Flash note

Canacol Energy — Increasing activity

Oil & Gas | Flash note

Canacol Energy — On track to meet guidance

Sector

Oil & Gas

Equity Analyst

Key Management

  • Charle Gamba

    CEO

  • Jason Bednar

    CFO

Balance Sheet

Forecast net debt (US$m)

481

Forecast gearing ratio (%)

156

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 4.1 8.7 (5.0)
Relative (1.8) 9.2 (12.4)
52 week high/low C$3.5/C$1.8

Financials

Canacol Energy has solid visibility of its cash flows on the back of its long-term gas contracts. Production is set to ramp up significantly once its new pipeline is operational in 2024 giving it access to the interior market. This will allow the company to start generating significant cash flows, which will be used to grow the business and potentially give higher returns to shareholders. This is an exciting time for Canacol and investors should start focusing on potential returns. The shares are well backed by our asset valuation of C$23.94/share.

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (fd) (c) P/E (x) P/CF (x)
2021A 311.0 181.0 59.0 4.3 196.8 2.0
2022A 336.0 198.0 66.0 43.1 19.6 1.0
2023E 351.0 218.0 91.0 17.3 48.9 1.3
2024E 364.0 217.0 69.0 13.1 64.6 1.3

Thematics

thematic

Consumer

IPO apocalypse

thematic

TMT

ESG, moving beyond the box tick

thematic

Oil & Gas

Decarbonisation

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