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Canacol Plans Two Wells for Remainder of 2016
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Canacol Energy Ltd. reported the following update concerning its gas sales, drilling operations, reserves, and 2016 guidance.
Gas cash sales before royalties for the months of May and June 2016 averaged approximately 88.5 million standard cubic feet per day, or 15,526 barrels of oil equivalent per day. The average cash netback was approximately US$ 26.00 / barrel of oil equivalent during this period. Production from the Clarinete 1 and Clarinete 2ST wells averaged 30 MMscfpd for the months of May and June 2016. Gas cash sales were slightly impacted by scheduled maintenance at one of Canacol's customer's facilities which have since been completed. Oil sales before royalties, including Ecuador, for the months of May and June 2016 were 3,995 barrels of oil per day with an average cash…
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