Exploration & Production | Quarterly / Earnings Reports | Fourth Quarter (4Q) Update
Colombian Success Bolsters Canacol's Year-End Results
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Canacol Energy Ltd. has reported its financial results for the three and six months ended December 31, 2013.
Fiscal Q2 2014 was a successful quarter for the Corporation as it increased production, revenues, adjusted funds from operations, and netbacks over the comparative prior year period.
Charle Gamba, President and CEO of the Corporation stated: "Canacol increased production for the most recent quarter by 11% compared to last quarter and by 89% over the comparative quarter as the Corporation continued to realize success from its recent exploration and production activities, maintaining a healthy netback of $38.44/boe, a 102% increase over the comparative quarter. Sales volumes, revenues, operating cash flows and netbacks were temporarily affected during the quarter by an unanticipated…
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