Canacol Energy Ltd. · BVC:CNEC
Canacol Energy — Q1 2023 Earnings Presentation
11 slides from Canacol Energy's earnings presentation, May 12, 2023
Slide 1: 1Q 2023 Results Conference Call Presentation
1Q 2023 Results Conference Call Presentation May 2023
Slide 2: 2023 Q1 Highlights
2023 Q1 Highlights Realized Natural Gas Sales Realized Natural Gas Sales • 186 mmcf/d (mmcfd) Other Achievements • $4.01/mcf gas operating netback – highest since before COVID • Operating Margin: 78% 181 182 186 172 • Record Adj. EBITDAX of $61 million • ROCE: 17% 143 Subsequent Event 2019 2020 2021
Slide 3: High Prices + Low Cost = High Margins and Netbacks
High Prices + Low Cost = High Margins and Netbacks2 Gas Operating Netbacks (US$/MCF)1, 2 5.13 4.85 4.95 4.97 4.73 4.80 4.83 4.74 4.73 4.76 4.81 4.58 4.54 4.63 4.61 4.66 0.59 0.64 4.52 4.42 4.43 0.87 0.62 0.60 0.64 4.35 0.62 0.64 4.09 0.72 0.76 0.75 0.78 0.30 0.71 0.72 0.64 0.73 0.67 0.42 0.44 0.31 0
Slide 4: High Return On Capital Employed (ROCE)
High Return On Capital Employed (ROCE)1 20% 21% 18% 19% 17% 18% 16% 17% 17% 15% 14% 12% 13% 13% 12% 10% 5% Q1/19 Q1/20 Q1/21 Q1/22 Q1/23 ROCE 12-month ROCE (1) Return on Capital Employed (ROCE) is a non-IFRS measure, which Canacol calculates as a ratio, the numerator of which is annualized Earnings
Slide 5: Q1/23 Financial Highlights (US$ MM)
Q1/23 Financial Highlights (US$ MM) +12% $73.9 +23% $65.9 $60.9 -3% $49.6 $33.8 -31% $32.7 $24.4 $16.9 Net Revenues FFO EBITDAX Net Income 1Q '22 1Q '23 (1) Total revenues, net of royalties and transportation expense. (2) Adjusted Funds From Operations (FFO) is a non-IFRS measure used to represent c
Slide 6: Record Adjusted EBITDAX (US$mm)
Record Adjusted EBITDAX (US$mm) $70 61 $60 59 54 55 56 53 $50 49 50 46 46 47 45 43 42 42 40 40 $40 37 36 36 36 36 34 33 34 33 29 30 $30 22 20 $20 19 16 13 $10 $0 Q1/22 Q1/15 Q1/16 Q1/17 Q1/18 Q1/19 Q1/20 Q1/21 Q1/23 EBITDAX 12-month average 1. Adjusted EBITDAX is a non-IFRS measure. See our most rec
Slide 7: 2023 Outlook
2023 Outlook Natural Gas Sales Between 160 – 206 MMscfd Drill up to 10 wells Continuous program targeting a 2P RRR of 200% Seismic Acquisition Acquire 282 km2 of 3D seismic on the VIM-5 block Continue progressing new gas pipeline to Medellin. Return of Capital while investing for growth ESG continue
Slide 8: Canacol Energy
~ CANACOL —— ENERGY ————
Slide 9: Advisories
Advisories This presentation is provided for informational purposes only during the 1Q 2023 Financial Results Conference Call held on the 12th of May 2023, is not complete and may not contain certain material information about Canacol Energy Ltd. (“Canacol" or the "Company"), including important dis
Slide 10: Advisories
Advisories The Corporation also presents adjusted funds from operations per share, whereby per share amounts are calculated using the weighted-average shares outstanding consistent with the calculation of net income (loss) and comprehensive income (loss) per share.
Slide 11: Advisories
Advisories Return on Capital Employed (ROCE) is a non-IFRS measure, which Canacol calculates as a ratio, the numerator of which is annualized Earnings Before Interest and Tax (EBIT), and the denominator of which is Total Assets less Current Liabilities. Quarterly ROCE is calculated by annualizing EB