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Canacol Details 2016 Capex, 2 Gas Exploration Wells
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Canacol Energy Ltd. has provided the following update concerning its corporate guidance for 2016.
The Corporation announces that its 2016 capital budget is US$ 58 million, with forecast oil and gas sales between 16,000 to 17,000 (average 16,500) barrels of oil equivalent per day (boepd), compared to US$ 82 million of capital and 10,103 boepd of sales in 2015. This represents a year over year increase of 63% in forecast oil and gas sales against a 29% decrease in capital spending. Current sales including realized gas sales and oil sales are 20,097 boepd, which consists of 90.5 million standard cubic feet per day (MMscfpd) of gas (15,881 boepd) and 4,216 barrels of oil per day (bopd). Capital expenditures in the first quarter of 2016 were approximately US$ 15 million, including the…- ✓ Full news archive — U.S., Canada & international coverage
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