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Production / Operations Routine +

Condor Achieves New Production Record of 14,000 boe/d in Uzbekistan

Condor Energies Hits Production Peak as Uzbek Gas Output Surges Past 14,000 Boe/D

By The Northwire Desk — AI Analysis Apr 13, 2026 · 08:30 CDR · 3.03 CONDOR ENERGIES INC. J
Executive Summary
  • Headline: Condor Achieves New Production Record of 14,000 boe/d in Uzbekistan (April 13, 2026).
  • Core Announcement: Daily production exceeded 14,000 boe/d following the online status of the Kumli-46 horizontal well.
  • Well Performance: K-46 peaked at 18.3 MMscf/d (~3,050 boe/d) and is currently throttled to manage gas velocities. No decline observed in legacy wells (K-45 or K-46).
  • Development Progress: Drilling of follow-up well Kumli-47 has reached surface casing depth (509 m); total depth expected mid-May 2026.
  • Production Context: Average daily production over past 72 hours was 13,938 boe/d; 24-hour average was 14,013 boe/d. This represents a ~32% increase versus Q4 2025 average (10,534 boe/d).
  • Strategic Context: Workover programs continue to mitigate a historic 20% annual reservoir decline. CEO Don Streu anticipates material increases in 2026 gas production and reserves.
Material Impact
  • Validation of Previous News: This release confirms the commercial viability of the K-46 well announced on April 8, 2026 (flow test results). The market reaction to the flow test likely occurred prior to this specific production record announcement.
  • Cash Flow Implications: Sustained production at 14,000 boe/d significantly improves near-term cash flow coverage against operating expenses and debt service compared to Q4 2025 levels (10,534 boe/d).
  • Execution Risk Mitigation: The news confirms that the company can successfully bring horizontal wells online quickly after testing, reducing execution risk for the planned 12-well program in 2026.
  • Limitations: The news does not reveal new reserves or unexpected geological success; it operationalizes known potential from the April 8 flow test. Therefore, while positive, it is largely an expected outcome of the previous drilling campaign rather than a surprise discovery.
CDR · Price
Company Overview
  • Overview: Condor Energies focuses on natural gas and condensate production in Uzbekistan, an LNG diesel-substitution project in Kazakhstan, and critical mineral extraction (lithium/copper) from brines in Kazakhstan.
  • Flagship Project: Kumli Field, Uzbekistan. The company is transitioning from vertical to horizontal drilling to offset a 20% annual reservoir decline.
  • Production Base: Q4 2025 average production was 10,534 boe/d (61,310 Mcf/d gas + 316 bopd condensate).
  • Reserves: Proved reserves (51% WI) are 78,231 MMcf gas and 381 Mbbl condensate (NPV10 $40.0M).
Read the original news release →

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