Canacol Energy ( (TSE:CNE) ) has provided an update.
Canacol Energy Ltd. reported a record adjusted EBITDAX of $296.1 million for the year ended December 31, 2024, marking a significant increase from the previous year. Despite a decrease in realized natural gas and LNG sales volume, the company saw a rise in operating netback and adjusted funds from operations, driven by higher average sales prices. However, Canacol experienced a net loss due to a non-cash deferred income tax expense. The company plans to focus on maintaining and growing EBITDA, exploring new gas opportunities, and reducing debt in 2025, while preparing to commence operations in Bolivia by 2026.
More about Canacol Energy
Canacol Energy Ltd. is an energy company based in Calgary, Alberta, primarily focused on the exploration and production of natural gas and liquefied natural gas (LNG). The company operates mainly in the Lower Magdalena Valley in Colombia, with a strategic emphasis on increasing its reserves and production capabilities.
YTD Price Performance: 5.90%
Average Trading Volume: 4,066
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $96.88M
See more data about CNE stock on TipRanks’ Stock Analysis page.