NG Energy Spuds Magico-2X at Sinú-9 and Advances Toward Higher Gas Takeaway Capacity

NG Energy International Corp. (TSX: GASX; OTCQX: GASXF) has spudded Magico-2X, the second well in its six-well 2026 drilling program at the Sinú-9 Block in Colombia, marking a new step in the campaign that is expanding the company’s natural gas production base along the country’s Caribbean coast. The well was spudded on June 26, 2026, with the newly discovered Pre-CDO–San Cayetano formation as its primary target.

Magico-2X is operated by Maurel & Prom Colombia Sociedad Limitada, the Colombian arm of French producer Etablissements Maurel & Prom S.A., which took a working interest in Sinú-9 earlier this year. The well is designed with three sections: the 16 inch, 12-1/4 inch, and the 6-3/4 inch, drilled to a total measured depth of 7,500 feet. NG Energy expects drilling and completion to take approximately 35 days, after which the well will be connected to the block’s central processing facility for production.

“We are pleased that M&P Colombia, as operator of the Sinú-9 Block, delivered the spud of Magico-2X on schedule, targeting the Pre-CDO–San Cayetano formation as its primary target,” said Jorge Fonseca, CEO of NG Energy. 

The focus on the Pre-CDO–San Cayetano formation follows results at the Hechicero-1X well, which tested at rates of up to 26.4 MMcf/d gross (10.3 MMcf/d net) from the zone. NG Energy describes Pre-CDO–San Cayetano as a newly discovered formation that has opened a wider area for natural gas at that stratigraphic level across Sinú-9. 

Following the test, M&P Colombia has elected to manage Hechicero-1X at a sustainable production rate of approximately 15 MMcf/d gross (5.85 MMcf/d net), which the company says is consistent with reservoir-management practices intended to protect the well’s long-term performance and integrity.

“Hechicero-1X has already demonstrated the strength of this zone, testing at rates of up to 26.4 MMcf/d gross and now sustaining steady production at 15 MMcf/d — exactly why we believe Pre-CDO–San Cayetano has the potential to be a key driver of production growth across the Sinú-9 Block as the six-well campaign advances,” Fonseca continued. 

On the infrastructure side, the initial pipeline loop to Jobo, built by NG Energy’s infrastructure partner INFRAES S.A.S. E.S.P., has been completed. Mechanical commissioning at the Jobo and Guayabal facilities is underway over the coming weeks and is expected to raise transportation capacity at Sinú-9 from the current 30 MMcf/d gross (11.7 MMcf/d net) to between 40 and 45 MMcf/d gross (15.6 to 17.6 MMcf/d net). Current production at Sinú-9 is approximately 17.5 MMcf/d gross (6.8 MMcf/d net). NG Energy brought first gas online at the Sinú-9 site as it built out the block.

At the María Conchita Block in La Guajira, total field production is currently approximately 14.8 MMcf/d gross (11.8 MMcf/d net), against infrastructure that supports up to 30 MMcf/d gross (24.0 MMcf/d net) of processing and transportation capacity. 

The next development well at María Conchita, Aruchara-6, is expected to spud immediately after the completion of the ongoing Aruchara-1 workover. That workover began on June 15, 2026, and is expected to be completed by July 10, 2026, targeting the isolation of currently produced zones, the opening of new zones, the deployment of sand control equipment, characterization of upper intervals, and recompletion of the well. 

Civil works at the Aruchara-6 location are expected to begin in the coming week, with the drilling rig to be mobilized immediately after the Aruchara-1 workover concludes. NG Energy previously installed a natural gas plant in La Guajira to support the block.

“Combined with the completion of the INFRAES pipeline loop to Jobo, we are positioning the block for a meaningful step-up in takeaway capacity as commissioning progresses over the coming weeks,” Fonseca added. “At Maria Conchita, our team is advancing the Aruchara-1 workover ahead of spudding Aruchara-6, our next development well at the block. It is a productive period across both of our assets, and we look forward to providing further updates as this work progresses.”

NG Energy also confirmed progress on the transaction with Maurel & Prom. The company has received the $15 million USD installment payment from Etablissements Maurel & Prom S.A. due in June 2026 in connection with the Sinú-9 transactions, bringing total consideration received to approximately $135 million USD to date. The remaining $15 million USD installment is expected in July 2026, which would bring total consideration received on the transaction to the full $150 million USD.

The activity comes as Colombia contends with a widening natural gas deficit that has pushed energy costs higher and drawn attention to domestic supply. NG Energy positions itself as a supplier of gas into the premium-priced Colombian market, and has outlined progress across its Caribbean coast petroleum projects as it scales output.

NG Energy holds its working interests in the María Conchita and Sinú-9 blocks through Operadora NG Energy Sucursal en Colombia (formerly MKMS Enerji Sucursal Colombia), the Colombian branch of the company’s indirect wholly owned subsidiary Operadora NG Energy International, S.A.

Headline photo: Aruchara-4 Drilling Rig CNW Group/NG Energy International Corp.