Canacol Energy (TSE:CNE) has released an update.
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Canacol Energy Ltd. reports a significant improvement in financial performance for Q2 2024, with a 70% increase in adjusted funds from operations and a record high in natural gas netback and adjusted EBITDAX, despite a net loss due to a non-cash deferred income tax expense. The company attributes the financial success to higher realized sales prices for natural gas and LNG, although sales volumes have decreased. Canacol remains focused on development and exploration to sustain growth.
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