Northwire Canada EditionSaturday, July 11, 2026
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GLDN 0.055 +0.0% BRON 0.040 +0.0% BTO 5.43 −0.7% ESK 0.365 −2.7% AUMN 0.275 +0.0% GGX 0.040 +0.0% S 0.155 +29.2% NNX 0.035 +0.0% ABX 51.90 −0.6% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.38 +12.4% TUNG 1.72 +1.8% LGO 1.01 −2.9% EMM 0.080 +0.0% GLDN 0.055 +0.0% BRON 0.040 +0.0% BTO 5.43 −0.7% ESK 0.365 −2.7% AUMN 0.275 +0.0% GGX 0.040 +0.0% S 0.155 +29.2% NNX 0.035 +0.0% ABX 51.90 −0.6% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.38 +12.4% TUNG 1.72 +1.8% LGO 1.01 −2.9% EMM 0.080 +0.0%
Production / Operations Routine +

Condor Achieves New Production Record Exceeding 15,000 boe/d with K-47 Tie In

Condor Energies Production Ramp Validates Capital Raise as Stock Consolidates Near Recent Lows

By The Northwire Desk — AI Analysis May 25, 2026 · 08:00 CDR · 2.99 CONDOR ENERGIES INC. J
Executive Summary
  • Condor Energies achieved a new production record of 15,283 boe/d following the tie-in of the K-47 horizontal well in Uzbekistan.
  • Year-to-date (YTD) 2026 production has increased by 41%, successfully offsetting a 20% natural decline rate in legacy fields.
  • The K-47 well peaked at 18.4 MMscf/d with a stabilized flowing rate of 14.8 MMscf/d through a choke, demonstrating repeatable high-quality reservoir performance.
  • Drilling activities are expanding on Pad 1; the K-42 vertical well is underway with Total Depth expected in June.
  • A second drilling rig is being mobilized to Pad 1 and is scheduled to spud in June to accelerate growth.
  • CEO Don Streu highlighted that new wells can be monetized quickly, yielding payouts in under one year.
Material Impact
  • The news confirms the operational efficacy of the $29.9 million equity financing closed in April/May 2026 at $2.60 per share.
  • Production growth trajectory (11,832 boe/d in Q1 -> 14,000+ boe/d in April -> 15,283 boe/d in May) validates the company's thesis regarding horizontal well repeatability and field compression potential.
  • While positive, this is a continuation of the trend established since the K-46 results in early April; it does not introduce a fundamentally new variable (such as a reserve upgrade or M&A).
  • The stock price has already rallied significantly from ~$1.70 (Jan 2026) to highs of $3.22 (April 2026), pricing in much of this growth expectation.
  • Trading at $2.99 (May 22 close) remains above the offering price of $2.60, indicating market confidence but also suggesting limited upside surprise from this specific operational update alone.
CDR · Price
Company Overview
  • Flagship Project: Uzbekistan Natural Gas Fields (Kumli and Andakli fields).
  • Development Focus: Transitioning from vertical wells to horizontal drilling (e.g., K-46, K-47) to maximize reservoir contact in carbonate/clastic formations.
  • Secondary Projects: LNG Liquefaction Facility in Kazakhstan (Saryozek Site); Critical Minerals licenses for Lithium and Copper in Kazakhstan (Sayakbay & Kolkuduk).
  • Divestiture: Turkish subsidiary assets sold for a royalty stream, focusing capital on Central Asian operations.
  • Production Profile: Natural gas dominant with condensate byproduct; production rates increasing from ~10,500 boe/d (Q4 2025) to >15,000 boe/d (May 2026).
Read the original news release →

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Production / Operations