The company’s Aruchara-6 well recently achieved gross initial flow test rates reaching 8.7 million cubic feet per day. This addition brings the firm’s total output across its Maria Conchita and Sinu-9 assets to approximately 29.1 million cubic feet per day. With production now comfortably exceeding existing offtake agreements—which cover up to 15 million cubic feet per day at Maria Conchita—NG Energy is redirecting its surplus into the spot market. These uncontracted volumes are fetching between $14 and $16 per thousand cubic feet, with some specific sales even topping the $20 mark, underscoring the current scarcity and high demand within Colombia’s energy sector.
In section Market Quotes
NG Energy Surges as Colombian Gas Production Hits New Highs
Shares of NG Energy International climbed 11% to 1.08 Canadian dollars on Friday, fueled by a sharp increase in natural-gas production at the Maria Conchita block. The surge allows the Toronto-listed firm to capitalize on a constrained Colombian energy market by selling excess volumes at significant price premiums.
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