NG ENERGY ANNOUNCES YEAR-END RESERVES AND RESOURCES AND COMMENCEMENT OF DRILLING OF HECHICERO-1X AT SINU-9
Executive Summary
- NG Energy released its 2025 year‑end reserves and resources for the Sinu‑9 and Maria Conchita blocks, showing BT NPV10 increases of 67% (1P), 50% (2P) and 42% (3P) versus the prior year.
- Maurel & Prom began drilling the Hechicero‑1X exploration well – the first of a six‑well program planned for 2026 on Sinu‑9.
- Maria Conchita operational update: workover of Aruchara‑3 completed, production at 12 MMcf/d, sand‑cleanup scheduled March 2026, and spudding of the approved Aruchara‑5 well expected by end‑March 2026.
Key Details
- Reserves (Company Gross) – Total Colombia:
- Proved (1P): 64.5 Bcf; BT NPV10 $189.2 M (+67%).
- Proved + Probable (2P): 132.3 Bcf; BT NPV10 $368.7 M (+50%).
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Proved + Probable + Possible (3P): 225.6 Bcf; BT NPV10 $543.1 M (+42%).
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Contingent Resources (Development Pending) – Total Colombia:
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114.2 Bcf; BT NPV10 $292.5 M (+73%).
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Prospective Resources – Total Colombia:
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263.9 Bcf; BT NPV10 $642.5 M (+50%).
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Sinu‑9 Block (72% WI) – Company Share:
- Proved (1P): 48.1 Bcf (34.6 Bcf NGE share); BT NPV10 $52.8 M (+137%).
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Proved + Probable (2P): 181.4 Bcf (130.6 Bcf NGE); BT NPV10 $271.6 M (+52%).
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Sinu‑9 Block (39% WI) – Post‑Transaction Share:
- Proved (1P): 48.1 Bcf (18.7 Bcf NGE); BT NPV10 $28.6 M (+137%).
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Proved + Probable (2P): 181.4 Bcf (70.7 Bcf NGE); BT NPV10 $147.1 M (+52%).
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Maria Conchita Block (80% WI) – Company Share:
- Proved (1P): 57.3 Bcf (45.8 Bcf NGE); BT NPV10 $160.6 M (+59%).
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Proved + Probable (2P): 77.0 Bcf (61.6 Bcf NGE); BT NPV10 $221.6 M (+48%).
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Drilling Commencement – Hechicero‑1X:
- Operator: Maurel & Prom (M&P).
- First well of a six‑well 2026 program on Sinu‑9.
- Drilled from same platform as Brujo‑1X (tested 51 MMcf/d).
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Target: Ciénaga de Oro formation; total vertical depth ≈ 8,800 ft.
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Infrastructure – Sinu‑9:
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Existing transport capacity 30 MMcf/d, expanding to 40 MMcf/d at start of Q2 2026.
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Maria Conchita Operational Update:
- Workover of Aruchara‑3 completed (Dec 22 2025); production stable at 12 MMcf/d.
- Sand‑cleanup for Aruchara‑3 & ‑4 scheduled March 2026 to boost rates.
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Drilling approval received for Aruchara‑5; spudding expected end‑March 2026.
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Future Development Plans (summary):
- Sinu‑9: 17 additional wells in reserves area, plus multiple locations for contingent and prospective resources (total up to ~30 drilling locations).
- Maria Conchita: 7 new wells in reserves area; 15 wells for contingent resources; 29 wells for prospective resources; facility expansion to 60 MMcf/d.
Notable Quotes
“Our 2025 year‑end reserves and resources reports demonstrated a substantial increase in net present value… We are thrilled to collaborate with Maurel & Prom on the six‑well drilling program at Sinu‑9…” – Brian Paes‑Braga, Executive Chairman.