BRIEF-Canacol Energy Ltd reports Q1 results

Wed May 11, 2016 4:14pm EDT
 
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May 11 (Reuters) - Canacol Energy Ltd

* Average production volumes increased 21% to 10,933 boepd for three months ended March 31, 2016

* Realized contractual corporate oil and gas sales averaging approximately 20,000 boepd versus 11,220 boepd for previous quarter

* AFFO for three months ended march 31, 2016 increased 59% to $13.5 million compared to $8.5 million for three months ended December 31, 2015

* Qtrly adjusted funds from operations per share $0.08

* Estimates that average net before royalty oil and gas production for 2016 will range between 16,000 and 17,000 boepd

* Total corporate EBITDAX is anticipated to be approximately $135 million for calendar 2016

* Total petroleum & natural gas revenues for Q1 2016 increased 30% to $22.7 million versus $17.4 million for three months ended dec. 31, 2015

* Canacol energy ltd. increases first quarter sales 20% to 11,220 boepd and corporate netback 9% to $23.90/boe Source text for Eikon: Further company coverage: