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Canacol Energy (CNNEF)
OTHER OTC:CNNEF
Earnings Data
Report Date
May 08, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.9Last Year’s EPS
0.88Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 20, 2025
|% Change Since: -20.28%
|Next Earnings Date:May 08, 2025
Earnings Call Sentiment|Positive
The earnings call presented a positive outlook for Canacol Energy, highlighting record EBITDAX, increased natural gas prices, successful drilling activities, and a strong cash position. However, the company did report a net loss in the fourth quarter due to tax expenses, and reduced capital expenditures were noted. Despite these lowlights, the overall performance and strategic positioning indicate a strong and positive trajectory.Company Guidance
During Canacol Energy's fiscal year 2024 conference call, the company reported a record-breaking EBITDAX of $296 million, marking a 25% increase from 2023. The average realized natural gas price was $6.99 per 1,000 standard cubic feet, yielding netbacks of $5.41, up 32% from the previous year, with an operational margin of 77%. The company averaged 165 million standard cubic feet per day in gas and oil sales, including 157 million standard cubic feet per day of natural gas. Capital investments for the year totaled $122 million, down 43% from 2023 and below the guidance of $138 million. The reduction was attributed to drilling and cost efficiency efforts. Canacol closed the year with a cash position of $79 million. The corporation drilled five exploration wells and five development wells, achieving a 2P reserve replacement ratio of 85% with 53 billion cubic feet in new discoveries, bringing total 2P reserves to 599 billion cubic feet of gas equivalents. The net present value of future net revenues from 2P reserves is estimated at $2.6 billion before tax. Canacol's Corporate Sustainability Assessment score by S&P Global was 75 points, ranking fourth among 165 global oil and gas companies. For 2025, Canacol aims to sustain EBITDAX generation and reserves, drill high-impact exploration wells, reduce debt, and prepare for operations in Bolivia by 2026, with a projected capital program between $143 million and $160 million.Record-Breaking EBITDAX
Canacol Energy achieved a record EBITDAX of $296 million for fiscal year 2024, which is 25% higher than the previous year.
Increased Natural Gas Prices and Netbacks
Realized natural gas prices reached $6.99 per 1,000 cubic feet, generating netbacks of $5.41 per 1,000 cubic feet, a 32% increase compared to last year.
Successful Drilling and Reserve Replacement
The company drilled five exploration wells and five development wells, achieving a 2P reserve replacement ratio of 85% with 53 billion cubic feet in new discoveries.
Strong Cash Position
Canacol closed the year with a cash position of $79 million, marking its strongest cash position since Q3 of 2022.
Sustainability Recognition
The company scored 75 points in the S&P Global Corporate Sustainability Assessment, ranking fourth globally in the oil and gas sector.
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CNNEF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CNNEF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Mar 20, 2025 | $2.81 | $2.64 | -6.05% |
| Nov 07, 2024 | $2.25 | $2.22 | -1.33% |
| Aug 08, 2024 | $3.13 | $3.12 | -0.32% |
| May 09, 2024 | $3.61 | $3.64 | +0.83% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Canacol Energy (CNNEF) report earnings?
Canacol Energy (CNNEF) is schdueled to report earning on May 08, 2025, TBA Not Confirmed.
What is Canacol Energy (CNNEF) earnings time?
Canacol Energy (CNNEF) earnings time is at May 08, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CNNEF EPS forecast?
CNNEF EPS forecast for the fiscal quarter 2025 (Q1) is 0.9.
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