NG Energy Sees 14% Q2 Sales Boost, Advances Colombia Ops
NG Energy International Corp., (TSX: GASX) (OTCQX: GASXF), has filed its financial results for the three and six months ended June 30, 2026. The company's interim condensed consolidated financial statements and management's discussion and analysis are available on their website.
The Q2 2026 production highlights include a 14% increase in natural gas and NGL sales over Q1 2026, reaching US$10.8 million. This marks an 8% increase from the same period last year. The company's YTD 2026 sales of US$20.3 million represent a 24% increase over the previous year.
NG Energy's Maria Conchita development is advancing, with the Aruchara-5 well tied into the central processing facility in Q2 2026. The Aruchara-1 workover was completed on July 15, 2026, and the company has spudded the Aruchara-6 well, targeting the Jimol formation.
The company's balance sheet transformation is complete, with the final US$15 million instalment from Maurel & Prom received subsequent to quarter-end. This completes the collection of the full US$150 million consideration. NG Energy also reduced its cost of capital by amending the Macquarie credit agreement, lowering the applicable margin rate from 8.5% to 7.5%.