Canacol Energy Ltd. provides the following update concerning its production and drilling operations in Colombia and Ecuador.
Average net production before royalty for the month of July 2015 was 10,973 barrels of oil equivalent per day, which consisted of 7,175 barrels of oil per day and 22 million cubic standard feet of gas per day (3,798 boepd) of natural gas. Average net production before royalty for the period August 1, 2015 to August 9, 2015 was 11,492 boepd, which consisted of 7,998 bopd and 20 mmscfpd (3,494 boepd) of natural gas.
Production in July and August 2015 to date represent significant increases over June 2015 despite planned, scheduled maintenance at one of the Corporation's gas off takers facilities which negatively impacted the amount of gas shipped, however, the scheduled maintenance is now completed. As previously reported, average net production before royalty for the period April 1, 2015 through June 30, 2015 averaged 9,970 boepd which consisted of 5,515 bopd and 25 mmscfpd (4,455 boepd) of natural gas.