Why Natural Gas In Colombia? Bogota Colombia Conventional gas Colombia • South America’s oldest/most stable democracy • 3rd largest South American economy • Regulatory stability (1) Natural gas in Colombia(2) • Country´s gas…
Colombia’s Caribbean Natural Gas Supply Deficit Strong gas demand on Colombia’s Caribbean Coast • Demand 450 MMcf/d increasing 3% / yr.(2) Terminal decline in Caribbean gas supply • For 30+ yrs., Chevron provided ~50% of gas supply…
Discovered 468 BCF In 5-years Reserve reports as of 12/31/17 and 7/31/18 (1) As of 12/31/17 (2) Pre-tax NPV-10 for Canacol’s 2P gas reserves as of 12/31/17 (3) Represents gross mean unrisked resources from a resource report prepared…
Canacol’s Consistent Growth Solid gas portfolio • E&P contracts / net acres 5 / 1.1 MM • Take/pay fixed wellhead gas pricing $4.80/Mcf(1) • Robust operating margins ~70% Continuous production and reserves growth • Est.‘18?‘19…
Cartagena Barranquilla Cerro Matos0 Dec ’12 +18 MMcf/d • Acquired Shona Energy • 80 km pipeline ? Cerromatoso nickel mine Jun ‘16 +65 MMcf/d ? 83 MMcf/d • Promigas-funded 190 km pipeline Dec ‘17 +40-47 MMcf/d ? 123-130 MMcf/d •…
21 Esperanza Chirmia Clarinete Field 143 BCF Cañandonga Toronja VIM 5 Oboe Trombon Nispero Nelson Field 193 BCF Canahuate Pandereta 5 km Canacol gas 3D seismic Flow line Lead “E” Exploration Prospect “A” Appraisal…
Pandereta Oboe Nispero Trombon Palmer Toronja Canah?ate SSJN 7 50% WI VIM 5 100% WI Bremen Sincelejo Guepaje Mamay VIM 19 100% WI Esperanza 100% WI VIM 21 100% WI Sabanas 2017 Breva Clarinete Cañandonga Nelson…
Nelson-13 Reservoir model-supported PUD location Nelson-13: Build productive capacity ? 230 MMcf/d A B Top CDO depth structure 500 M Penetration point • Depth 9,950 ft. MD • Location target 100 ft. structurally up dip from…
2018 Strategy & Outlook Canacol’s natural gas production + projection In MMcf/d 78 76 85 106 112 115 122 230 2Q \'17 3Q \'17 4Q \'17 1Q \'18 2Q \'18 3Q \'18 18e Starting Mar ‘19 +47% growth Consistent growth from 3Q ‘17 to 3Q…
Financial Summary EBITDA annualized based on ~230 MMcf/d (see note) US$ in MM \'17 \'18 \'19 81 MMcf/d 114-129 MMcf/d ~230 MMcf/d $88 MM ~$130 - $150 MM ~$275 MM +96% (1) Includes in-the-money options based on CDN…