Canacol Energy (TSE:CNE) has released an update.
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Canacol Energy Ltd. has updated its 2024 capital program, maintaining its expenditure at $138 million while increasing the number of wells to be drilled to eleven. The company expects its 2024 EBITDA to fall within the mid to high range of the previously forecasted $250 to $290 million. Despite abandoning the non-commercial Cardomomo-1 well, Canacol has successfully drilled five wells now in production and plans to continue its drilling program with three appraisal and two exploration wells.
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