Colombian gas - capital-light growth
Canacol Energy is an E&P company with operations across 23 blocks and 2.5m net acres across Colombia and Ecuador. Management expects to increase Colombian, Caribbean Coast gas market share from 5% today to c 32% by the end of the decade. Long-term gas contracts, and low operating costs at US$0.3/mcf drive peer-leading netbacks of a reported US$4.54/mcf. Management focus remains on growth and cash generation, with capital being directed towards a diverse mix of portfolio opportunities, including expanding the company’s contracted gas base, growing contingent gas inventory (organic and inorganic), monetisation of light oil reserves as oil prices rise, and early-stage exploration of prospective shale acreage. According to management, Canacol Energy currently trades at 0.33x consensus RENAV and 0.78x consensus core NAV (based on net 2P reserves of 79mmboe).Canacol Energy is engaged in core petroleum and natural gas exploration and development activities in Colombia, Brazil and Guyana.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.