Acquisitions

Since inception in 2008 the Corporation has created over US $1.4 billion in value from the drill-bit and via strategic acquisitions. Canacol has made 18 oil and gas discoveries and has achieved 96% success in developing these discoveries.

Over the same period and including produced barrels, the Corporation expanded 2P oil reserves plus deemed volumes from 2 to 32 MMbls, representing a CAGR of 41%. Including produced barrels of oil equivalent, Canacol increased 2P natural gas reserves from 17 to 73 MMboe, representing a CAGR of 45%. Pre-tax NPV-10 multiplied from US $199 million to US $1.4 billion.

Acquisition Date Purchase price
$ in MM
Pre-tax NPV-10
$ in MM
Rancho Hermoso Oct '08 $18 $163(1)
Carrao Energy Nov '11 $59 $170(2)
Shona Energy Dec '12 $111 $729(3)
OGX -- Colombia Dec '14 $30 $435(3,4)

(1)     As of June 2011 reserve report

(2)     As of December 2014 reserve report

(3)     As of December 2015 reserve report

(4)     Includes Oboe gas discovery reserve report as of June 2016