#Colombia #Calgary #NG Energy #Sinu-9 #Maria Conchita

NG Energy Updates Operations at Sinú-9 and Maria Conchita

NG Energy International Corp. has recently provided a comprehensive operational update detailing its activities at both the Sinú-9 and Maria Conchita fields located in Colombia. These updates are crucial for stakeholders as they reflect the company's advancements in natural gas exploration and production.

Current Developments at Sinú-9

The company confirmed the spudding of the Magico-2X well on June 26, 2026. This well is the second in a planned series of six, targeting the newly recognized Pre-CDO–San Cayetano formation. The well is designed with a total depth of 7,500 feet, incorporating various drilling sections, and is expected to be fully operational within approximately 35 days, following its connection to the central processing facility.

Initial testing from the Hechicero-1X well demonstrated impressive production capabilities, achieving gross rates of 26.4 million cubic feet per day (MMcf/d). Subsequent management of the well has successfully maintained sustainable output at approximately 15 MMcf/d, showcasing the effectiveness of sound reservoir management practices.

Currently, production at Sinú-9 is reported to be around 17.5 MMcf/d gross (6.8 MMcf/d net), with anticipation of increased capacity due to the completion of an INFRAES pipeline loop to Jobo. The company's strategic partners have completed the initial phases of this pipeline, which is expected to enhance transportation capacity to between 40 and 45 MMcf/d gross (15.6 – 17.6 MMcf/d net). This boost in capacity will play a significant role in facilitating higher output levels from the Sinú-9 Block moving forward.

Progress at Maria Conchita

In the Maria Conchita block, total production stands at approximately 14.8 MMcf/d gross (11.8 MMcf/d net), benefiting from existing infrastructure that can support processing and transportation rates of up to 30 MMcf/d gross (24.0 MMcf/d net). A new development well, Aruchara-6, is set to commence drilling as soon as ongoing workover operations at the Aruchara-1 well are completed, which should occur by July 10, 2026. This workover is vital, facilitating the isolation and enhancement of production zones while implementing new sand control measures.

Financial Transaction Highlights

Regarding financial transactions, NG Energy recently received a $15 million installment payment from Etablissements Maurel & Prom S.A. This sum is part of a broader agreement surrounding the Sinú-9 transaction and brings the total received so far to approximately $135 million. The remaining $15 million installment is expected to arrive in July 2026, fulfilling the entire sum of the transaction, which totals $150 million.

Jorge Fonseca, CEO of NG Energy, emphasized the significance of these developments. He expressed satisfaction with the timely spudding of the Magico-2X well and highlighted the promising data from the Hechicero-1X well, reflecting the potential growth of the Pre-CDO–San Cayetano zone. Fonseca stated that the company is well-positioned for future expansion in both the Sinú-9 and Maria Conchita blocks through ongoing drilling programs and improved infrastructure.

Conclusion

In summary, NG Energy continues to make substantial strides in its operations across Colombia, focusing on sustainable growth and enhanced production capabilities. The updates concerning the Sinú-9 and Maria Conchita projects reflect a strong commitment to increasing natural gas output while fostering positive stakeholder relationships. As operations advance, further updates are expected, reinforcing the company's position within the energy sector and its commitment to contributing to clean and efficient energy solutions in Colombia.

For more information, please visit NG Energy's website.