Northwire Canada EditionThursday, October 15, 2026
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Drill Results Routine +

NG ENERGY ANNOUNCES ARUCHARA-5 WELL DRILLING RESULTS AT MARIA CONCHITA

NG Energy Production Doubles on Aruchara-5 Success; Shares Retreat from May Highs

By The Northwire Desk — AI Analysis May 28, 2026 · 07:00 GASX · 1.57 NG Energy International Corp.
Executive Summary
  • NG Energy International Corp. announced successful drilling and initial production of the Aruchara-5 well at the Maria Conchita Block.
  • The well hit the H1 target as designed and passed through H2, H3, H4, H5, and H6 zones with positive gas results across all six zones.
  • Total Company net production increased to approximately 23.2 MMcf/d following the connection of Aruchara-5 to the central processing facility.
  • Maria Conchita Block field production increased to 18 MMcf/d gross (14.4 MMcf/d net) following the addition of Aruchara-5.
  • Sinu-9 block is averaging 22.5 MMcf/d gross since Hechicero-1X was brought online.
  • The Company outlined a work program for Maria Conchita through year-end, including well interventions and planning for the Aruchara-6 development well in Q3 2026.
Material Impact
  • Confirmation of Expectations: The May 28 news confirms production milestones that were largely anticipated following the Q1 2026 earnings release on May 14, which stated Aruchara-5 reached total depth with positive results and connection was targeted by end of May.
  • Production Growth: Net production has nearly doubled from the Q1 average (approx. 12k Mcf/d) to current run rates (23.2 MMcf/d), validating the growth thesis established in previous quarters.
  • Market Reaction Divergence: Despite positive operational news, the stock price declined from a high of $1.86 on May 14 to $1.57 by May 27, suggesting the market has already priced in this success or is reacting to broader sector weakness.
  • Incremental Revenue: The connection allows incremental volumes to be sold into the spot market at ~US$11.50/Mcf for Maria Conchita and ~US$13.00/Mcf for Sinu-9, improving realized pricing compared to Q1 averages.
GASX · Price
Company Overview
  • Company: NG Energy International Corp., an oil and gas exploration company focused on Colombia.
  • Flagship Projects:
    • Maria Conchita Block: 80% Working Interest (WI). Producing ~18 MMcf/d gross following Aruchara-5 connection. Infrastructure capacity supports up to 30 MMcf/d gross.
    • Sinu-9 Block: 39% Non-Operating WI (Maurel & Prom operates 61%). Averaging 22.5 MMcf/d gross. Pipeline capacity expanding from 30 MMcf/d to potential 90 MMcf/d by year-end.
  • Development Status: Active drilling program with six wells planned for Sinu-9 in 2026 and one well at Maria Conchita (Aruchara-5) completed, Aruchara-6 planned for Q3.
Read the original news release →

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