- 19.2 million cubic feet equivalent per day ("MMcfe/d") of net natural gas sales for the month of
August 2023 and 18.6 MMcfe/d year-to-date, which represents 19% and 15% growth in net volumes over the same periods in 2022, respectively. - Approximately 93% of total sales volumes from January-
August 2023 were derived from natural gas production. - In
December 2023 , the Company will begin realizing natural gas sales at prices ranging from U.S.$8.30 /Mcf to U.S.$8.50 /Mcf. - In 2024, total contracted volumes of 18 MMcf/d at a weighted average price of U.S.
$7.52 /Mcf.
"
Commencing in
The Company anticipates launching its drilling and workover campaign in the SSJN-1 and Perdices blocks starting in
The Company is focused on the acquisition and development of natural gas production and exploration assets in
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities laws. All statements other than statements of historical fact are forward-looking statements, and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often using phrases such as "expects", "anticipates", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends", or variations of such words and phrases, or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved, are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include: general business, economic, competitive, political and social uncertainties; delay or failure to receive any necessary board, shareholder or regulatory approvals, factors may occur which impede or prevent
Reported production levels may not be reflective of sustainable production rates and future production rates may differ materially from the production rates reflected in this news release due to, among other factors, difficulties or interruptions encountered during the production of hydrocarbons.
The term "MMcfe" is used in this news release. MMcfe has been expressed using the Colombian conversion standard of 5.7 Mcf:1 bbl required by the
SOURCE
© Canada Newswire, source