NG Energy Reports Soaring Q1 2024 Financials

NG Energy International (TSE:GASX) has released an update.

NG Energy International Corp. reported a remarkable first quarter in 2024, achieving record revenues of US$10.2 million and operational cash flow of US$7.3 million, signifying a 488% year-over-year increase. The company highlighted significant production growth, particularly from the Maria Conchita field, and is poised for further increases with the nearing completion of the Sinu-9 pipeline. Strategic financial moves, including a partnership with Macquarie and a new US$100 million credit facility, have bolstered NG Energy’s balance sheet and liquidity to support its ongoing expansion.

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