Exploration & Production | Top Story | Capital Markets | Capital Expenditure
Canacol Talks 2014 Spending; Will Focus on Latest Discoveries
Print
|
Canacol Energy Ltd. has detailed its 2014 capital program and production guidance.
The Corporation plans to spend net capex of US$ 150 million in calendar 2014 on drilling, work overs, seismic, production facilities, and pipelines in Colombia and Ecuador, and anticipates net average production before royalties of between 11,500 and 12,500 barrels of oil equivalent per day, which represents a 30% to 40% increase from average 2013 production of 8,796 boepd which consisted of 5,827 barrels of oil per day and 17.2 million standard cubic feet of gas per day (2,969 boepd) gas. The production split for 2014 is expected to be approximately 70% oil and 30% gas.
Average net Corporate production before royalty for the month of December 2013 was 10,550 boepd which consisted of 7,474 bopd oil and…
- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations