Canacol Energy Ltd. reported its financial and operating results for the three and six months ended June 30, 2025. Operating netback for natural gas and LNG decreased 4% to $5.11 per Mcf for the three months and increased 4% to $5.30 per Mcf for the six months. Adjusted EBITDAX and funds from operations decreased by 35% and 23% for the same periods.

Total revenues, net of royalties and transportation expenses, decreased by 27% and 17% for the three and six months, mainly due to decreased sales volumes. Realized contractual natural gas sales volume also saw a decrease of 25% and 20% for the respective periods. The Corporation realized net income of $13.9 million and $45.7 million for the three and six months, compared to net losses in 2024.

Net cash capital expenditures for the three and six months were $57.1 million and $107.5 million, respectively. As of June 30, 2025, the Corporation had $37.0 million in cash and cash equivalents and a working capital deficit of $20.9 million. The Corporation is focusing on exploration and development drilling programs for the remainder of 2025.

The Corporation announced the resignation of Mr. William Satterfield, Senior Vice President of Exploration, effective August 7, 2025. Canacol Energy Ltd. is a natural gas exploration and production company with operations in Colombia. Forward-looking statements in the press release are subject to various risks and uncertainties. Adjusted funds from operations and EBITDAX are key measures for the Corporation’s performance.

Read more at GlobeNewswire: Canacol Energy Ltd. Reports Net Income of $13.9 Million For