Colombia-focused company maintains investments in key producing blocks

  • Canacol Energy expects average gas sales volumes of 160-177 million cubic feet per day in 2024
  • Firm take-or-pay contracts average 124 million cubic feet per day
  • Average wellhead sales price expected to be $6.59/Mcf
  • Canacol Energy sets capital budget of $138-151 million for 2024

Canacol Energy has announced its capital budget for 2024, aiming to maintain investments in key producing blocks in the Lower Magdalena Valley Basin. The company expects average gas sales volumes of 160-177 million cubic feet per day, with firm take-or-pay contracts averaging 124 million cubic feet per day. The average wellhead sales price is projected to be $6.59/Mcf. Canacol Energy’s capital budget for the year is set at $138-151 million, reflecting a decrease from the previous year’s budget of $205 million.

Public Companies: Canacol Energy (N/A)
Private Companies: undefined
Key People: Robb M. Stewart (N/A)

Factuality Level: 8
Justification: The article provides specific information about Canacol Energy’s capital budget and forecasted gas sales volumes for the year ahead. The information is presented without any obvious bias or opinion. However, without additional sources or context, it is difficult to verify the accuracy of the information.

Noise Level: 7
Justification: The article provides specific information about Canacol Energy’s capital budget and gas sales volumes. However, it lacks analysis of long-term trends or antifragility. It also does not hold powerful people accountable or provide actionable insights or solutions.

Financial Relevance: Yes
Financial Markets Impacted: Gas market

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to Canacol Energy’s capital budget and gas sales forecast for the year ahead. It provides information on the company’s investments, gas sales volumes, and average wellhead sales prices. There is no mention of any extreme events or their impact.

Reported publicly: www.marketwatch.com