Canacol Energy Ltd.

Canacol Energy Ltd. is a leading independent natural gas exploration and production company headquartered in Calgary, Canada, with primary operations in Colombia. The company focuses exclusively on conventional natural gas, supplying approximately 17% of Colombia's gas needs and over 50% of the Caribbean Coast's demand, playing a key role in the nation's energy transition toward a cleaner matrix by replacing oil and coal. Originally incorporated in 1970 as BrazAlta Resources Corp., it rebranded in 2009 and shifted to a gas-only strategy in 2012, achieving an 80% exploration success rate and growing 2P reserves to 599 billion cubic feet as of year-end 2024. Canacol operates over 1.9 million net acres across 10 contracts in the Lower and Middle Magdalena Basins, with central processing at Jobo Station and infrastructure including pipelines, a 200 MW power plant, and Colombia's first small-scale LNG facility. Gas sales are secured under long-term USD-denominated, fixed-price take-or-pay contracts, ensuring revenue stability. Recently, it expanded into Bolivia with four E&P contracts to bolster reserves amid declining regional production. Canacol's low-carbon operations emphasize efficiency, minimal flaring, and clean-burning gas power.