Wednesday, December 6 2023 Sign In   |    Register
 

News Quick Search


 

News


Front Page
Power News
Gas News
Today's News
Yesterday's News
Week of Dec 04
Week of Nov 27
Week of Nov 20
Week of Nov 13
Week of Nov 06
By Topic
By News Partner
News Customization
Feedback

 

Pro Plus(+)


Add on products to your professional subscription.
  • Energy Archive News
  •  



    Home > News > Gas News > News Article

    Share by Email E-mail Printer Friendly Print

    LNGE LNG Energy produces 19.2 MMcfe/d of gas in August


    September 26, 2023 - Canada StockWatch

     

      LNG Energy Group Corp (TSX-V:LNGE)

      Shares Issued 155,108,066

      Last Close 9/25/2023 $0.39

      Tuesday September 26 2023 - News Release

      Mr. Pablo Navarro reports

      LNG ENERGY GROUP PROVIDES SALES AND DRILLING UPDATE

      LNG Energy Group Corp. has provided the following natural gas sales and drilling update.

      Sales Update

      19.2 million cubic feet equivalent per day ("MMcfe/d") of net natural gas sales for the month of August 2023 and 18.6 MMcfe/d year-to-date, which represents 19% and 15% growth in net volumes over the same periods in 2022, respectively.

      Approximately 93% of total sales volumes from January-August 2023 were derived from natural gas production.

      In December 2023, the Company will begin realizing natural gas sales at prices ranging from U.S.$8.30/Mcf to U.S.$8.50/Mcf.

      In 2024, total contracted volumes of 18 MMcf/d at a weighted average price of U.S.$7.52/Mcf.

      "Colombia is seeing very strong fundamentals in the natural gas sector due to current supply - demand dynamics in the country," commented Pablo Navarro, Chairman and Chief Executive Officer of LNG Energy Group. "We look forward to growing our Colombian natural gas production base and working with our local stakeholders to continue to provide consistent production to our customers."

      Commencing in December 2023, the Company will begin realizing natural gas sales at prices ranging from U.S.$8.30/Mcf to U.S.$8.50/Mcf from new take-or-pay natural gas contracts with durations of four to five years.

      Drilling Update

      The Company anticipates launching its drilling and workover campaign in the SSJN-1 and Perdices blocks starting in October 2023, which includes a minimum of three wells. The first well to be drilled will be the Bullerengue Oeste 5 (BO5) well in SSJN1 block.

      About LNG Energy Group

      The Company is focused on the acquisition and development of natural gas production and exploration assets in Latin America. For more information, please visit www.lngenergygroup.com.

      We seek Safe Harbor.

    TOP

    Other Articles - International


    TOP

       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2023 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.