NG Energy International (GASX) Q1 2026 earnings summary

Executive summary

• Q1 2026 natural gas and NGL sales reached US $9.5 million, up 48% year-over-year, with average daily net production of 12,413 Mcf/d from Maria Conchita and Sinú-9.

• Significant balance sheet transformation following the closure of Sinú-9 transactions for US $150 million; US $87.5 million received by March 31, 2026, and further payments scheduled.

• Infrastructure and production capacity expanded, with Sinú-9 pipeline capacity expected to reach 40 MMcf/d by June 2026 and Maria Conchita at 30 MMcf/d.

• Company graduated to the Toronto Stock Exchange on April 30, 2026, and plans to initiate a normal course issuer bid.

Financial highlights

• Q1 2026 revenue was US $9.5 million, compared to US $6.4 million in Q1 2025, a 48% increase year-over-year.

• Blended realized natural gas price was US $8.50/Mcf in Q1 2026, up from US $8.28/Mcf in Q1 2025.

• Cash position at March 31, 2026, was US $11.95 million, with US $61.1 million in receivables from asset transactions.

• Macquarie credit facility outstanding principal was US $23.0 million.

Outlook and guidance

• Incremental production at Maria Conchita and Sinú-9 expected to achieve higher spot market prices of US $11.50/Mcf and US $13.00/Mcf, respectively, as volumes exceed contracted thresholds.

• Six-well drilling program at Sinú-9 underway, with further delineation of the Pre-CDO-San Cayetano formation expected.

• Infrastructure at Sinú-9 could scale to 90 MMcf/d gross capacity by year-end, pending agreements.