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BRIEF-Canacol Energy negotiates new gas sales contracts, initiates private gas pipeline, and forecasts 130 mmscfpd of gas production exiting 2017 and 230 mmscfpd of gas production exiting 2018

Published 2016-11-23, 08:42 a/m
© Reuters.  BRIEF-Canacol Energy negotiates new gas sales contracts, initiates private gas pipeline, and forecasts 130 mmscfpd of gas production exiting 2017 and 230 mmscfpd of gas production exiting 2018
CNE
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Nov 23 (Reuters) - Canacol Energy Ltd CNE.TO :

* Canacol Energy Ltd. negotiates new gas sales contracts, initiates private gas pipeline, and forecasts 130 mmscfpd of gas production exiting 2017 and 230 mmscfpd of gas production exiting 2018

* Canacol Energy Ltd - planning to increase current gas sales from 90 mmscpf to 130 mmscfpd in December 2017, and to 230 mmscfpd in December 2018

* Canacol Energy - new gas sales contract all commence in dec 2018, have a term of between 5 and 10 years, and are with large, established offtakers

* Canacol Energy - co negotiated 4 new take or pay gas sales contracts of 100 mmscfpd with existing & new customers located in Cartagena and Baranquilla

* Canacol Energy-special purpose vehicle anticipated to raise about US$50 million in a combination of equity and debt, outside of Canacol

* SPV's new private pipeline will consist of approximately 80 kilometers of flowlines and two compression stations Source text for Eikon: ID:nMKWBK3w3a Further company coverage: CNE.TO

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