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These production capacity constraints led to restricted gas deliveries under specific supply contracts. In response, Canacol has introduced remedial measures with the goal of normalizing production by the end of November. Additionally, the company aims to offset the lost sales volumes by year-end.
In its drilling operations, Canacol has successfully completed drilling at Pandereta 9 and Nelson 15 wells. These wells have hit net gas pay within the Cienaga de Oro sandstone target and are currently being connected to the Jobo facility. Production from these wells is expected to commence within a week.
Furthermore, Canacol plans to spud the Pandereta 10 well shortly and complete Clarinete 10 before the close of the year. However, these plans are not without their risks. The company’s drilling operations are subject to industry-wide risks such as fluctuating energy prices, potential cost overruns, delays, and other unforeseen circumstances.
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