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Canacol Energy Ltd. Reports Net lncome of $18.7 Million For The Third Quarter of 2025

By The Northwire Desk — AI Analysis Nov 17, 2025 · 05:30 CNE · 1.81 CANACOL ENERGY LTD.
CNE · Price

Executive Summary

  • Canacol Energy reported a material improvement in net income for both the three‑month and nine‑month periods, turning a $10.3 M loss (Q3 2024) into an $18.7 M profit (Q3 2025) and increasing nine‑month earnings to $64.3 M from a $7.3 M loss a year earlier.
  • Adjusted EBITDAX fell 43% YoY for the quarter and 31% YoY for the nine‑month period, reflecting lower realized natural gas/LNG volumes despite higher prices.
  • Production and sales volumes declined sharply (≈20–24% YoY), while capital expenditures rose to $39.1 M (Q3) and $146.6 M (nine months) due to drilling and compression projects.

Key Details

  • Operating Netback: $5.34/Mcf (Q3 2025) vs. $5.25/Mcf (Q3 2024); $5.30/Mcf (9‑mo 2025) vs. $5.17/Mcf (9‑mo 2024).
  • Adjusted EBITDAX: $49.1 M (Q3 2025) vs. $85.8 M (Q3 2024); $152.7 M (9‑mo 2025) vs. $220.1 M (9‑mo 2024).
  • Adjusted Funds from Operations: $46.1 M (Q3 2025) vs. $57.9 M (Q3 2024); $122.2 M (9‑mo 2025) vs. $157.3 M (9‑mo 2024).
  • Total Revenues (net of royalties & transportation): $69.5 M (Q3 2025) vs. $87.9 M (Q3 2024); $207.0 M (9‑mo 2025) vs. $253.9 M (9‑mo 2024).
  • Realized Contractual Natural Gas Sales Volume: 121.7 Mcf/d (Q3 2025) vs. 159.8 Mcf/d (Q3 2024); 123.1 Mcf/d (9‑mo 2025) vs. 156.3 Mcf/d (9‑mo 2024).
  • Net Income: $18.7 M (Q3 2025) vs. $10.3 M loss (Q3 2024); $64.3 M (9‑mo 2025) vs. $7.3 M loss (9‑mo 2024).
  • Non‑Cash Deferred Tax Recovery: $5.4 M (Q3 2025) and $39.0 M (9‑mo 2025); prior year had a deferred tax expense of $5.3 M and $48.4 M respectively.
  • Net Cash Capital Expenditures: $39.1 M (Q3 2025) vs. $23.9 M (Q3 2024); $146.6 M (9‑mo 2025) vs. $93.7 M (9‑mo 2024).
  • Cash & Cash Equivalents: $36.5 M as of Sep 30 2025 (down 54% YoY).
  • Working Capital Deficit: $(29.9) M as of Sep 30 2025 (previously a surplus of $45.5 M).
  • Total Debt: $747.6 M (down 2% YoY).

Operational Outlook
Continued drilling and work‑over program; abandonment of Corno‑1 and Ramsay‑1 wells due to non‑commercial gas.
 Mobilization planned for Kantana‑2 development well, followed by spudding of Monstera‑1 exploration well before year‑end 2025.
* Ongoing discussions with existing and new banking groups to address liquidity; material developments will be disclosed promptly.

Notable Quotes

(No direct CEO/President quotes were included in the release.)

Read the original news release →

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