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Canacol Drops Oil Production, Expands Gas Mix
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Canacol Energy Ltd. has reported its financial and operating results for the three and six months ended June 30, 2016. Dollar amounts are expressed in United States dollars, except as otherwise noted.
Average corporate production volumes increased 65% and 31% :
16,423 boepd in Q2 2016 (24% Oil) 13,680 boepd for six months ended June 30, 2016 (31% Oil)Compared to:
9,961 boepd in Q1 2015 (60% Oil) 10,453 boepd for six months ended June 30, 2015 (64% Oil)During the three months ended June 30, 2016, the Oboe‐1 well was completed and tested in 3 of 11 different sandstone reservoir intervals within the Cienaga de Oro reservoir which flowed at a combined rate of 66 MMscfpd of dry gas.
The Oboe-1 well is expected to commence permanent production by September 1, 2016.
Oboe‐1 further…
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