Maria Conchita is NG Energy's first producing gas field located in the Department of La Guajira. After successfully re-entering the Aruchara-1 well in July 2020, the Company reached commercial production in August 2022 and in August 2023 successfully drilled Aruchara-3, encountering 570 feet of net gas pay. To date, the Company has reached production volumes of 17.9 MMcf/d from Maria Conchita. The Company’s focus in 2024 is on production enhancing activities and completing a geophysics study on the newly encountered fractured H3 and H4 zones, as part of a key re-scoping initiative following up on the 65.2 MMcf/d test at the Aruchara-3 well. In parallel, the Company will be evaluating different scenarios to increase pipeline capacity at Maria Conchita and intends to drill Aruchara-4 in Q1-2025.
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Company Gross 3P Reserves
59.5 BCF (USD $135.8M NPV10)
Company Gross Best Contingent Resources
65.6 BCF (USD $69.9M NPV10)