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Last C$3.07 CAD
Change Today -0.02 / -0.65%
Volume 716.2K
CNE On Other Exchanges
Symbol
Exchange
OTC US
Frankfurt
Bogota
As of 3:52 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

canacol energy ltd (CNE) Snapshot

Open
C$3.05
Previous Close
C$3.09
Day High
C$3.13
Day Low
C$2.99
52 Week High
06/16/14 - C$7.73
52 Week Low
12/16/14 - C$1.40
Market Cap
358.1M
Average Volume 10 Days
1.5M
EPS TTM
C$-0.17
Shares Outstanding
116.6M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for CANACOL ENERGY LTD (CNE)

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canacol energy ltd (CNE) Details

Canacol Energy Ltd., an oil and gas company, primarily engages in the exploration, development, and production of petroleum and natural gas in Colombia, Ecuador, Brazil, and Peru. Its areas of oil and gas exploration include 5 various basins in Colombia and Ecuador across 23 E&P contracts representing 1.8 million net acres. The company was incorporated in 1970 and is headquartered in Calgary, Canada.

249 Employees
Last Reported Date: 09/23/14
Founded in 1970

canacol energy ltd (CNE) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: C$427.7K
Chief Financial Officer
Total Annual Compensation: C$299.8K
Vice President of Business Development, Gener...
Total Annual Compensation: C$309.9K
Executive Vice President of Business Developm...
Total Annual Compensation: C$309.9K
Vice President of Exploration
Total Annual Compensation: C$288.8K
Compensation as of Fiscal Year 2014.

canacol energy ltd (CNE) Key Developments

Canacol Energy Ltd Reports Earnings and Operating Results for the Third Quarter and Nine Months Ended March 31, 2015

Canacol Energy Ltd. reported earnings results for the third quarter and nine months ended March 31, 2015. For the quarter, the company reported petroleum and natural gas revenues, net of royalties of $26.429 million compared with $55.653 million for the same period last year. Cash used in operating activities was $2.011 compared with cash provided by operating activities was $13.099 million for the same period last year. Diluted loss per share was 0.02 compared with diluted earnings per share were $0.14 per share for the same period last year. Adjusted funds from operations were $10.922 million compared with $33.161 million for the same period last year. Net loss was $16.638 million or $0.14 diluted per share compared with net income was $19.348 million 0.21 diluted per share for the same period last year. Capital expenditures, net were $69.778 million compared with $35.915 million for the same period last year. For the nine months, the company reported petroleum and natural gas revenues, net of royalties of $121.750 million compared with $146.043 million for the same period last year. Cash provided by operating activities was $75.350 million compared with $69.229 million for the same period last year. Diluted per share was 0.69 compared with $0.78 per share for the same period last year. Adjusted funds from operations were $71.036 million or $0.65 diluted per share compared with $74.920 million or $0.85 diluted per share for the same period last year. Net loss was $47.498 million or $0.44 diluted per share compared with net income was $12.007 million 0.14 diluted per share for the same period last year. Capital expenditures, net were $188.407 million compared with $76.072 million for the same period last year. For the quarter, petroleum production before royalties was 10,950 (boepd) compared to 10,893 boepd a year ago. Natural gas production before royalties was 11,098 boepd compared to 11,418 boepd a year ago. For the nine months, petroleum production before royalties was 12,017 (boepd) compared to 10,034 boepd a year ago. Natural gas production before royalties was 11,942 boepd compared to 9,855 boepd a year ago.

Canacol Energy Ltd Announces Production Guidance for the Calendar Year of 2015

Canacol Energy Ltd. announced production guidance for the calendar Year of 2015. For the quarter, the company’s net average production before royalties of between 10,000 and 12,000 barrels of oil equivalent per day ("boepd"). Included therein, 65 million standard cubic feet per day ("MMcfpd") (11,404 boepd) of new gas sales are anticipated to come on stream in December 2015. Calendar 2015 expected net average production consists of approximately 60% combined natural gas from Colombia and tariff oil from Ecuador, whereby natural gas is subject to various long-term sales contracts ranging from contracts based on the Guajira price index, currently set at USD 5.08/Million British Thermal Units ("MMbtu") (USD 28.96/boe), and new contracts expected to commence in December 2015 with fixed prices ranging from USD 5.40 to USD 8.00/MMbtu (USD 30.78 to USD 45.60/boe) and subject to future price escalations, while tariff oil is subject to a fixed price tariff contract.

Canacol Energy Ltd. Enters into $200 Million Long-Term Secured Credit Agreement to Replace Existing Credit Agreement

Canacol Energy Ltd. has entered into a credit agreement for a $200 million senior secured term loan with a syndicate of banks led by BNP Paribas as Sole Lead Arranger and Sole Bookrunner, and including Davivienda, Citibank, Bladex, ICBC, BICSA and Banco de Occidente. Funding under the new credit agreement is anticipated to take place on or about April 28, 2015. The new credit agreement will replace the Corporation’ existing credit agreement and will offer the following benefits: 1) defers amortization payments until December 31, 2017, allowing the Corporation to dedicate capital to high netback production related projects instead of debt service; and 2) sets certain financial covenants in order to mitigate current and anticipated longer term weakness in crude oil prices, including increasing the maximum consolidated leverage ratio, calculated as consolidated total debt divided by consolidated EBITDAX, determined on a rolling 12-month basis and inclusive of the contribution related to the Corporation’s incremental production contract in Ecuador, to 3.50:1. The $200 million term loan is due September 30, 2019, with interest payable quarterly and principal repayable in eight equal quarterly instalments starting December 31, 2017, following an initial grace period. The term loan will carry interest at LIBOR plus 4.75% and will be secured by all of the material assets of the Corporation. Proceeds from the term loan will be used for repayment of principal ($176 million) and accrued interest outstanding under the Corporation’s existing term loan, costs of the transaction, and for other general corporate purposes.

 

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