08:57 AM EST, 01/27/2025 (MT Newswires) -- Canacol Energy ( CNNEF ) on Monday reported partial financial and operating results for the fourth quarter of 2024.

The company expects to achieve realized contractual oil and gas sales of 163 MMcfe/d, while EBITDA was pegged at $78 million.

Canacol estimated its cash capex at $29 million and projected its leverage ratio at 2.3x.

The company said it has completed the signing of four contracts with the Bolivian state through its national oil company YPFB. The contracts are all adjacent to producing gas fields, gas export pipelines and other facilities.

Canacol said about US$2 million in guarantees have been posted to secure the four contracts. Final approval by the Bolivian Congress is anticipated in the fourth quarter.

The company also provided a drilling update, reporting progress at the Natilla-2 ST1 exploration well, Lulo-3 appraisal well, Clarinete 11 development well, Siku-2 appraisal well and Pibe-2 appraisal well.