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

NG Energy Sees Record Performance in Q3 2026

NG Energy International Corp. has announced a remarkable quarter in Q3 2026, showcasing a significant leap in its financial and operational results. The company's achievements come as natural gas volumes and prices continue to rise, signaling a robust growth trajectory in the energy sector.

Financial Highlights

During Q3 2026, NG Energy (TSX: GASX; OTCQX: GASXF) achieved a record quarterly realized natural gas price of $8.59/Mcf, marking an increase of 3% from Q2 2026 and 15% year-over-year. The Maria Conchita block, a key asset for the company, reported an impressive $9.10/Mcf, while the Sinú-9 block reached $7.95/Mcf. These achievements are expected to bolster earnings significantly as NG Energy prepares for the expiration of older contracts on November 30, leading to new agreements estimated to exceed $18.00/Mcf, doubling the price in Q3.

The growth has also been reflected inrecord sales, which jumped to $18.3 million for the quarter, up 70% from the previous quarter and 32% from the same period last year. Year-to-date sales now total $38.7 million, showcasing a 28% year-over-year growth.

Rising Production Volumes

The company reported net sales volumes of 23,164 Mcf/d (3,861 boe/d), indicating a remarkable 63% increase from Q2 2026 and 15% rise from Q3 2025. Much of this success can be attributed to the new Aruchara-5 well and improved production capabilities at both Maria Conchita and Sinú-9, with elevated deliverability driving growth.

As the quarter closed, NG Energy placed the Aruchara-6 well into production, which has already tested at 8.7 MMcf/d gross, contributing to an anticipated increase in production to over 20.0 MMcf/d gross in the Maria Conchita field.

Positive Operating Netback

For the first time in 2026, NG Energy reported a positive operating netback, achieving $0.32/Mcf compared to a loss in the previous quarters. Management anticipates continued improvements in operating costs as production volumes rise, further enhancing the company’s profitability.

With operating expenses down to $6.04/Mcf—a decrease from earlier quarters—the company expects these costs to stabilize or decrease as production outputs increase. NG Energy's operational efficiency gains and strategic cost management are key in navigating the volatile energy sector.

Future Outlook

As NG Energy continues to expand its production capabilities and transition to higher-value contracts, the company is well-positioned to capitalize on rising natural gas prices, which were recorded at up to $16.00/Mcf for spot sales in October. The CEO, Jorge Fonseca, expressed optimism about the future, highlighting that the company's performance indicators—volume, price, and costs—are all trending positively, paving the way for further growth.

The company’s strategic focus remains on developing operations that support energy transition while enhancing shareholder value. With a solid balance sheet reflected in cash and equivalents of $41.7 million and reduced net debt of $25.7 million, NG Energy is set to strengthen its position within the burgeoning natural gas market in Colombia and beyond.

In summary, NG Energy International Corp.'s outstanding performance in Q3 2026 underscores its potential for sustainable growth, positioning the company as a key player in the evolving energy landscape.