Exploration & Production | Top Story | Capital Markets | Capital Expenditure
Canacol Plans $67MM CapEx; Eyes Llanos Development
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Canacol Energy Ltd. has detailed its 2013 capital program and production guidance. The Corporation plans to spend gross capex of US$67 million in calendar 2013 on drilling, work overs, seismic, production facilities, and pipelines in Colombia and Ecuador, and anticipates net average production before royalties of between 7,500 and 8,500 barrels of oil equivalent per day (boepd).
Average production for the month of December 2012 was 8,366 boepd before royalties, stated on a pro forma basis to include the results of the recently acquired production assets of Shona Energy Company, Inc. The production split for 2013 is expected to be approximately 60% oil from its Labrador, Rancho Hermoso, Libertador-Atacapi, and Capella fields in Colombia and Ecuador, and 40% gas from its operated gas fields…
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