NG Energy International Corp. (TSE:GASX) has released an update.
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NG Energy International Corp. is set to enhance its production and financial profile in 2024 with capital expenditures of $23-$27 million aimed at completing infrastructure projects and drilling new wells in the Sinu-9 and Maria Conchita blocks. The company projects an increase in average gross production to 25-35 MMcf/d, with a year-end goal of over 45 MMcf/d, and anticipates a cash flow of $20-$25 million. This strategy is expected to significantly grow production and maintain a strong balance sheet, offering promising returns for shareholders.
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