Canacol Energy Ltd. · BVC:CNEC
Canacol Energy — Q1 2022 Earnings Presentation
13 slides from Canacol Energy's earnings presentation, May 2022
Slide 1: 1Q 2022 Results Conference Call Presentation
1Q 2022 Results Conference Call Presentation May 2022
Slide 2: 2022 Q1 Highlights
2022 Q1 Highlights Realized Natural Gas Sales Realized Natural Gas Sales: 182 mmcf/d, 2% higher (mmcfd) than Q1/21 191 186 182 Operating Margin: 77%, ROCE: 19% 178 172 171 Drilling Activity: 1/1 exploration success at Carambolo 143 Return of Capital: Accelerated buying back shares and paid 9th conse
Slide 3: High Prices + Low Cost = High Margins and Netbacks
High Prices + Low Cost = High Margins and Netbacks 2 Gas Operating Netbacks (US$/MCF)1, 2 4.85 4.95 4.97 4.73 4.80 4.83 4.74 4.58 4.54 4.63 4.61 4.66 0.59 0.64 4.52 4.42 4.43 0.62 0.60 0.64 4.35 0.62 0.64 4.09 0.72 0.30 0.71 0.72 0.64 0.73 0.67 0.42 0.44 0.31 0.66 0.69 0.40 0.40 0.24 0.71 0.29 0.22
Slide 4: High Return On Capital Employed (ROCE)
High Return On Capital Employed (ROCE)1 20% 21% 18% 19% 18% 17% 15% 14% 12% 13% 13% 12% 10% Q1/19 Q3/19 Q1/20 Q3/20 Q1/21 Q3/21 Q1/22 ROCE 12-month ROCE (1) Return on Capital Employed (ROCE) is a non-IFRS measure, which Canacol calculates as a ratio, the numerator of which is annualized Earnings Bef
Slide 5: Q1/22 Financial Highlights (US$ MM)
Q1/22 Financial Highlights (US$ MM) +11% $65.9 +6% $59.5 -11% $49.6 $46.7 $38.1 $33.8 $24.4 -$3.1 Net Revenues FFO EBITDAX Net Income 1Q '21 1Q '22 (1) Natural gas, LNG and Crude Oil Revenues, Net of Royalties and Transportation Expenses, plus Take-or-Pay Income, excluding Natural Gas trading volume
Slide 6: Exploration Upside: Strong Track Record, Large Potential
Exploration Upside: Strong Track Record, Large Potential Continue Utilizing Best-in-Class Technology and Expertise to De- Risk Large Resource Potential Track record2 Exploration/appraisal wells 29/36 (81%) Development wells 15/15 (100%) Total wells 44/51 (86%) Land Blocks 11 Net acres 1.5 MM Gross P
Slide 7: Middle Magdalena Valley Basin Overview
Middle Magdalena Valley Basin Overview Middle Magdalena Basin • Long history of oil and gas production from multiple reservoirs, in particular shallow oil. VMM45 POLA-1 • The basin contains a thick interval of Cretaceous- aged rocks. • Ideal combination of reservoir elements including Legend Basin i
Slide 8: Canacol's First Gas Exploration Well in the Middle Magdalena Basin
Canacol’s First Gas Exploration Well in the Middle Magdalena Basin Pola-1 Exploration Well, VMM45 Contract • Test the potential of a new deep conventional natural gas play within a Cretaceous Formation • Up to 3,300 ft of marine carbonates and clastics • Primary source rock for most of the proven oi
Slide 9: Outlook for Remainder of 2022
Outlook for Remainder of 2022 Our focus for the year remains unchanged: Drill up to 12 wells Continuous program targeting a 2P RRR of more than 200% Seismic Acquisition Acquire 470 km2 of 3D seismic on the VIM-5 block Facilities Lower opex and increase recovery with facilities and modular compressio
Slide 10: Canacol Energy
~ CANACOL —— ENERGY ————
Slide 11: Advisories
Advisories This presentation is provided for informational purposes only during the 4Q 2021 Financial Results Conference Call held on the 18th of March 2022, is not complete and may not contain certain material information about Canacol Energy Ltd. (“Canacol" or the "Company"), including important d
Slide 12: 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
Slide 13: Advisories
Advisories Oil and Gas Information Barrels of oil equivalent (“boe”) and thousands of cubic feet equivalent (“MCFe”) Boe and MCFe may be misleading, particularly if used in isolation. A boe or MCFe conversion ratio of cubic feet of natural gas to barrels of oil equivalent and from barrels of oil to