Canacol Energy Ltd. Reports a 22% Increase in Netback and an Adjusted EBITDAX of $61 Million in Q1 2024
Adjusted EBITDAX increased slightly to $61.0 million for the three months ended March 31, 2024, compared to $60.9 million for the same period in 2023.
- Adjusted EBITDAX increased slightly to $61.0 million for the three months ended March 31, 2024, compared to $60.9 million for the same period in 2023.
- The increase is mainly due to an increase of natural gas operating netback, offset by a decrease in realized contractual natural gas and LNG sales volume.
- Net cash capital expenditures for the three months ended March 31, 2024 was $35.9 million compared to $47.1 million for the same period in 2023.
- As at March 31, 2024, the Corporation had $25.1 million in cash and cash equivalents and $11.2 million in working capital deficit.