Sunday, August 3, 2025

Latest

NG Energy Preps For Well Re-Entry, Reaches Agreement For Pipeline Tie-In

NG Energy International (TSXV: GASX) this morning had a positive update for investors on the status of its Istanbul-1 well along with its GTX facility for its Maria Conchita gas field. The updates push the company one step closer to production.

The company is currently prepping to conduct the re-entry of the Istanbul-1 well, enabling the company to install equipment for the de-watering of the well. The process will remove water that is currently downhole from when the well was originally drilled.

The re-entry process is set to consist of a ten day program, which is currently in the final steps of planning, with the re-entry slated to be completed and the repairs conducted by the end of the month. Following the removal of the water, the company will acquire a surface gas volumetric response, which will allow for an estimate to be conducted on the real capacity of the well for gas production without a liquid load.

Currently the company is expecting between 3 and 5 MMSCFPD of production from Istanbul-1, in addition to the 16 MMSCFPD expected from Aruchara-1, setting the company off on a strong production start later this year.

Gas produced at Istanbul-1 is initially to be sold via truck, with conversations currently advancing discussions with end buyers of natural gas. Transport via truck will begin following the assembly of the GTX production facilities, with production facilities slated to be completed by the end of November.

In terms of the pipeline, the company this morning revealed it has met an agreement with Transportadora de Gas Inernacional (TGI) related to the tie-in of the Maria Conchita pipeline. Gas produced at Aruchara-1 as a result will be sold via the pipeline, along with subsequent wells. The remaining lines are to be installed and tied into the main TGI line by the end of the year.

NG Energy last traded at $1.92 on the TSX Venture.


FULL DISCLOSURE: Canacom Group, the parent company of The Deep Dive has been compensated to provide coverage on this company. The company has been compensated to cover this story on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Video Articles

San Dimas: First Majestic Silver’s Sleeper Asset

New Gold Q2 Earnings: Record Free Cash Flow

STLLR Gold: The Tower Gold PEA

Recommended

Tsunami Warnings Spread As Largest Quake Since 2011 Hits Russia

Northern Superior Intersects 1.75 g/t Gold Over 65.0 Metres At Philibert

Related News

Are We Nearing A Commodity Supercycle? – The Daily Dive

Joining us on the Daily Dive is Serafino Iacono, CEO of NG Energy (TSXV: GASX)...

Friday, December 24, 2021, 01:30:00 PM

NG Energy: Beacon Reiterates Buy Rating, Suggests Firm Could Move Beyond $2.80 Price Target

On January 4th, NG Energy (TSXV: GASX) announced that it has completed all civil works and...

Sunday, January 9, 2022, 11:17:00 AM

NG Energy Announces Updated Contingent and Prospective Resources

This afternoon NG Energy (TSXV: GASX) released an updated estimate for their flagship project Sinu-9...

Friday, March 19, 2021, 09:17:00 AM

NG Energy Tests 50.6 MMscf/d Gas In Aggregate Across Three Zones At Brujo-1X

Testing of NG Energy’s (TSXV: GASX) Brujo-1x well, which previously was indicated to have hit...

Tuesday, November 22, 2022, 08:43:54 AM

NG Energy Expects Production To Begin By Month End At Maria Conchita

It looks like production is finally set to begin for NG Energy (TSXV: GASX). The...

Thursday, May 5, 2022, 10:08:00 AM