Condor's Uzbekistan gas output averaged 13,851 boe/d in Q2, up 17% from Q1, then hit a 24-hour record of 17,925 boe/d in August, helped by new wells.
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Condor Energies Inc. (TSX:CDR) said second-quarter production averaged 13,851 barrels of oil equivalent per day, up 17% from the first quarter, and that output hit a new 24-hour record of 17,925 boe/d during the week of Aug. 6 to Aug. 12. The Calgary-based energy transition company, which focuses on Central Asia, released the results Thursday with its unaudited interim condensed consolidated financial statements for the three and six months ended June 30. All amounts are in Canadian dollars.
Production comes from the company's production enhancement services contract with JSC Uzbekneftegaz, or UNG, covering an integrated cluster of eight conventional gas-condensate fields in Uzbekistan. Second-quarter output comprised 13,458 boe/d of natural gas, or 80,748 Mcf/d, and 393 barrels per day of condensate. The cumulative license area spans 282 square kilometers, or 109 sections, with 75 active gas wells producing mainly from Jurassic carbonate reservoirs.
Condor attributed the 17% sequential increase mainly to newly drilled wells. The gain held even with more than fifteen days of restricted production in the quarter, when maintenance and plant upsets at facilities not operated by the company reduced volumes.
The August record came from the completion and tie-in of those wells. In the seven days from Aug. 6 to Aug. 12, production averaged 17,709 boe/d, 28% above the second-quarter average, made up of 17,250 boe/d of natural gas (103,500 Mcf/d) and 459 barrels of condensate. Condor said the 24-hour peak reached 17,925 boe/d.
Heat is the near-term operational constraint, the company said. Unusually prolonged high temperatures cut compressor performance downstream of Condor's operations and temporarily pushed pipeline pressures up to 20% higher, cutting well productivity. The quarter's restricted days came from the same outside dependency: maintenance and plant upsets at facilities not run by Condor. Its output this quarter was curbed by compressor stations and pipelines it does not operate.
The financial statements are available under Condor's profile on SEDAR+ and on its website.
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