Canacol Guides 2022 Natural Gas Sales Between 160 – 200 MMscfpd

Canacol Energy Ltd. (TSX: CNE) shared on Wednesday its 2022 corporate guidance. The firm expects realized contractual gas sales next year to be 160 – 200 million standard cubic feet per day.

In its report for November 2021, the company recorded 182 MMscfpd for the month. It is estimated that for 2021, realized contractual gas sales MMscfpd.

For 2022, the assumed average gas sales price is expected to be US$4.74 – US$4.61 per million cubic feet while operating netback is estimated at US$3.60 per million cubic feet.

The energy firm is also guiding its 2022 EBITDA to US$163 – US$230 million. EBITDA is estimated to end at US$197 million by 2021.

On the capital expenditures, the company is estimating US$172 – US$209 million, which includes US$18 million expected to finance the Jobo-Medellin pipeline expenditures. If a “build, own, operate and maintain” contractor is selected for the project, this expense will be reimbursed.

The firm said that the bulk of the base capital program will be focused on its exploration portfolio with the drilling of a total of up to 12 wells, with eight exploration wells and four development wells.

Canacol Energy Ltd. last traded at $3.16 on the TSX.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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