NG Energy International (GASX) Q3 2025 earnings summary

Executive summary

• Gross average daily production reached 27.2 MMcf/d in Q3 2025, rising to 33.8 MMcf/d in November following successful well completions.

• Natural gas and NGL sales totaled US$13.9 million in Q3 2025, a 53% increase year-over-year, driven by strong performance at Sinú-9.

• Positive cash flow from operations was US$7.9 million in Q3 2025, with significant improvements in per-unit operating costs at Sinú-9.

• Realized prices were US$8.23 per Mcf at Maria Conchita and US$7.20 per Mcf at Sinú-9, with expectations for further price increases as volumes grow.

• Cash and cash equivalents stood at US$13.8 million at quarter-end, with an additional US$110 million expected from the Maurel & Prom transaction closing in Q4 2025.

Financial highlights

• Q3 2025 natural gas and NGL sales increased 53% year-over-year to US$13.9 million.

• Operating expenses were US$4.5 million in Q3 2025 and US$12.7 million year-to-date.

• Cash flow from operations was US$7.9 million in Q3 2025.

• Ended Q3 2025 with US$13.8 million in cash and cash equivalents.

Outlook and guidance

• Production is expected to continue increasing through Q4 2025 and into 2026 as infrastructure and transportation capacity expand at Sinú-9.

• The company plans to launch a six-well drilling campaign with a new operational partner following the Maurel & Prom transaction.

• Projected triple-digit production growth over the next 2–3 years, targeting 200 MMcf/d.