Source: Canacol Energy.
  • Realized contractual natural gas sales were 186 million standard cubic feet per day for October 2022
  • Canacol is preparing and mobilizing for drilling with several wells scheduled to spud later this year
  • So far this year, Canacol has repurchased a total of 5,609,335 shares for cancellation
  • Canacol is a natural gas exploration and production company with operations in Colombia
  • Canacol Energy Ltd. (CNE) opened trading at C$2.12

Canacol Energy (CNE) has provided updates regarding its October 2022 natural gas sales along with drilling plans for the remainder of 2022.

Realized contractual natural gas sales (which are gas produced, delivered, and paid for) were 186 million standard cubic feet per day for October 2022.

Canacol is mobilizing a rig for the drilling of the Saxafon 1 exploration well located on its 100 per cent working interest VIM 5 E&P contract. Saxafon 1 will target gas-bearing sands within the Cienaga de Oro and Porquero reservoirs. The corporation anticipates that the well will spud in mid-November 2022 and will take approximately six weeks to drill, complete, and test.

The corporation is rigging up for the drilling of the Chimela 1 exploration well located on its 100 per cent working interest VMM 45 E&P contract. Chimela 1 will target gas and oil-bearing sandstones within the Tertiary Lisama reservoirs, which are productive in various nearby oil and gas-producing fields. The Corporation anticipates that the well will spud in mid-November 2022 and will take approximately six weeks to drill, complete, and test.

Canacol is preparing to mobilize the rig for the drilling of the Natilla 1 exploration well located on its 50 per cent operated working interest SSJN 7 E&P contract. Natilla 1 will target gas-bearing sandstones within the CDO and Porquero reservoirs. The corporation anticipates that the well will spud in late November 2022 and will take approximately fifteen weeks to drill, complete, and test.

The corporation is preparing the location for the drilling of the Dividivi 1 exploration well located on its 100 per cent working interest VIM 33 E&P contract. Dividivi 1 will target gas-bearing sandstones of the CDO reservoirs. The corporation anticipates that the well will spud in early December and will take approximately four weeks to drill, complete, and test.

In October, the corporation repurchased 215,003 shares at an average price of C$2.10 per share. So far this year, Canacol has repurchased a total of 5,609,335 shares for cancellation.

Canacol is a natural gas exploration and production company with operations in Colombia.

Canacol Energy Ltd. (CNE) opened trading at C$2.12.


More From The Market Online
The Market Online Video

Prospera Energy plots success with proven reserves, M&A plans

Prospera Energy (TSXV:PEI) CEO Samuel David discusses the company's latest news and the forecast for 2024 in an exclusive interview.

Parkland pays City of Burnaby $31K for emergency response

Parkland Corp. (TSX:PKI) cut a cheque to the City of Burnaby, B.C., to cover costs after an incident at its plant earlier this year.

Buzz on the Bullboards: Bombardier, Baytex and Tilray turn heads

Stockhouse Bullboards users have been tracking a trajectory among Bombardier, Baytex and Tilray that they hope will share comparable results.