Condor Announces 2024 Second Quarter Results
Condor Announces 2024 Second Quarter Results
CALGARY, Alberta, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Condor Energies Inc. ("Condor" or the "Company") (TSX:CDR), a Canadian based, internationally focused energy transition company focused on Central Asia is pleased to announce the release of its unaudited interim condensed consolidated financial statements for the three and six months ended June 30, 2024 together with the related management's discussion and analysis. These documents will be made available under Condor's profile on SEDAR+ at and on the Condor website at . Readers are invited to review the latest corporate presentation available on the Condor website. All financial amounts in this news release are presented in Canadian dollars, unless otherwise stated.
艾伯塔省卡爾加里,2024年8月13日(GLOBE NEWSWIRE)——總部位於加拿大、專注於中亞的國際能源轉型公司Condor Energies Inc.(「Condor」 或 「公司」)(多倫多證券交易所股票代碼:CDR)欣然宣佈發佈截至2024年6月30日的三個月和六個月未經審計的中期簡明合併財務報表以及相關管理層的討論和分析。這些文件將在SEDAR+的Condor個人資料下以及Condor網站上公佈,網址爲。邀請讀者查看Condor網站上提供的最新公司介紹。除非另有說明,否則本新聞稿中的所有財務金額均以加元列報。
HIGHLIGHTS
亮點
Production in Uzbekistan for the second quarter of 2024 averaged 10,052 boe/d comprised of 59,033 Mcf/d (9,839 boe/d) of natural gas and 213 bopd of condensate.
Uzbekistan gas and condensate sales for the second quarter of 2024 was $18.95 million.
In June 2024, the Company initiated a multi-well workover campaign on the eight gas-condensate fields it operates in Uzbekistan.
In July 2024, Condor signed its first LNG Framework Agreement for the production and utilization of liquefied natural gas ("LNG") to fuel Kazakhstan's rail locomotives.
The Company received a natural gas allocation in January 2024 in Kazakhstan to be used as feed gas for the Company's first modular LNG production facility.
On March 22, 2024, the Company issued three-year term convertible debentures bearing 9% interest per annum and convertible into 2,950,336 common shares for gross proceeds of USD $4.8 million (CAD $6.5 million).
烏茲別克斯坦2024年第二季度的平均產量爲10,052桶/日,其中包括59,033立方英尺/日(9,839桶/日)的天然氣和213桶的凝析油。
烏茲別克斯坦2024年第二季度的天然氣和凝析油銷售額爲1,895萬美元。
2024年6月,該公司啓動了其在烏茲別克斯坦運營的八個凝氣油田的多井修井活動。
2024年7月,Condor簽署了其第一份液化天然氣框架協議,該協議旨在生產和利用液化天然氣(「LNG」)爲哈薩克斯坦的鐵路機車提供燃料。
該公司於2024年1月在哈薩克斯坦獲得天然氣配額,用作公司首個模塊化液化天然氣生產設施的原料氣。
2024年3月22日,公司發行了三年期可轉換債券,年利率爲9%,可轉換爲2950,336股普通股,總收益爲480萬美元(合650萬加元)。
MESSAGE FROM CONDOR'S CEO
來自神鷹首席執行官的消息
Don Streu, President and CEO of Condor commented: "Since assuming the Uzbekistan field operations on March 1, 2024, the team has arrested a twenty percent natural production decline rate while initiating a multi-well workover program to grow production and reserves volumes. We're encouraged with the early gains we've realized by implementing proven technologies and operating practices. The first well workover yielded over a 100 percent production rate increase compared to its pre-workover rate. With more than 100 existing wells on the eight producing fields, we have a large inventory of enhancement opportunities and are working to increase production volumes and revenues beyond the second quarter of 2024 operating results. We are also excited to receive a reprocessed 3-D seismic data set this year to improve subsurface imaging that could identify additional well interventions and future infill and multi-lateral drilling programs.
Condor總裁兼首席執行官唐·斯特魯評論說:“自2024年3月1日接管烏茲別克斯坦的油田運營以來,該團隊已經控制了20%的自然產量下降率,同時啓動了多口井修井計劃以增加產量和儲量。通過實施成熟的技術和運營實踐,我們在早期取得了成果,這令我們感到鼓舞。與預修井速度相比,第一口油井的產量提高了100%以上。八個產油田現有油井超過100口,我們有大量的改良機會,並正在努力在2024年第二季度經營業績之後增加產量和收入。我們還很高興今年收到經過重新處理的三維地震數據集,以改善地下成像,從而確定更多的油井榦預措施以及未來的填充和多邊鑽探計劃。
We are equally excited with our first-mover LNG initiative in Kazakhstan, given that we've secured the feed gas supply for the first liquefaction facility and executed the Framework Agreement with KTZ and Wabtec, which introduces Condor as the LNG supplier and distributor. By applying field proven technologies to displace diesel fuel usage with LNG, end users can expect to reduce emissions and operating costs while increasing operating ranges with faster freight delivery times.
我們同樣對我們在哈薩克斯坦的先發液化天然氣計劃感到興奮,因爲我們已經確保了第一個液化設施的原料氣供應,並與KTZ和Wabtec簽署了框架協議,其中引入了Condor作爲液化天然氣供應商和分銷商。通過應用經過實地考驗的技術,用液化天然氣取代柴油燃料,最終用戶有望減少排放和運營成本,同時擴大運營範圍,縮短貨運交時間。
Over the past few years, we've truly built a strong foundation for continued growth with multiple near-term catalysts that are being actively matured."
在過去的幾年中,我們利用多種正在積極成熟的短期催化劑,確實爲持續增長奠定了堅實的基礎。”
Production in Uzbekistan
在烏茲別克斯坦生產
Production for the second quarter of 2024 was 10,052 boe/d, comprised of 59,033 Mcf/d (9,839 boe/d) of natural gas and 213 bopd of condensate, despite production being restricted in April and May for 18 days due to downstream infrastructure maintenance at non-Company operated facilities. Since assuming operations on March 1, 2024, the Company has been able to flatten the natural production decline rates, which previously exceeded twenty percent annually, by introducing downhole surfactants that allows produced water to be lifted more effectively, optimizing well choke-size settings, implementing facility upgrades, and introducing new operating methodologies.
儘管由於非公司運營設施的下游基礎設施維護,4月和5月的產量限制爲18天,但2024年第二季度的產量爲10,052桶/日,包括59,033立方英尺/日(9,839桶/日)的天然氣和213桶/日的凝析油。自2024年3月1日投產以來,該公司通過引入可以更有效地提煉出產水的井下表面活性劑、優化井口大小設置、實施設施升級以及引入新的運營方法,得以平緩以前每年超過20%的自然產量下降率。
In late June 2024, the Company initiated a multi-well workover campaign for the eight fields which includes installing proven artificial lift equipment, perforating newly identified pay intervals, performing downhole stimulation treatments, and production tubing replacements. The first well's production rate increased by over 100% compared to its pre-workover rate. Subsequent wells that have been worked-over are being cleaned up and restarted. The workover program is ongoing and with over 100 wells in the eight fields, the Company has a large inventory of both producing and shut-in wells available for evaluation, recompletion and optimization opportunities.
2024年6月下旬,該公司啓動了對八個油田的多井修井活動,包括安裝經過驗證的人工升降設備、對新確定的工資間隔進行穿孔、進行井下刺激處理以及更換生產管道。與修井前相比,第一口油井的產量提高了100%以上。隨後已經完工的油井正在清理和重啓中。修井計劃正在進行中,在八個油田有100多口油井,該公司有大量的生產和關閉油井庫存可供評估、重新完井和優化機會。
The Company recently fabricated Uzbekistan's first in-line flow separation unit which separates water from the gas streams at the field gathering network rather than at the production facility and thereby reducing pipeline flow pressure that can lead to higher reservoir flow rates. This separation unit was manufactured in Canada and is expected to be operational in the third quarter of 2024. Additional separation units will be manufactured and installed in the coming months. The existing pipeline and facilities infrastructure are also being evaluated to optimize water-handling, determine long term field compression requirements, and to enhance in-field gathering networks. The Company is also reprocessing previously acquired 3-D seismic data with plans to conduct infill drilling and well deepening programs commencing in 2025. Production guidance will be provided by the Company once it has gathered sufficient operating data to confirm the fields' baseline production, decline rates and the sustained impact of the ongoing workover program along with other optimization efforts that are being introduced.
該公司最近製造了烏茲別克斯坦的第一個直列式流量分離裝置,該裝置將水與氣流分離在油田收集網絡而不是生產設施,從而降低了可能導致更高儲層流速的管道流量壓力。該分離裝置在加拿大製造,預計將於2024年第三季度投入運營。在接下來的幾個月中,將生產和安裝更多的分離裝置。還正在評估現有的管道和設施基礎設施,以優化水處理,確定長期的現場壓縮要求並增強現場收集網絡。該公司還在重新處理先前獲得的三維地震數據,並計劃從2025年開始進行填充鑽探和油井深化計劃。在收集了足夠的運營數據以確認油田的基準產量、下降率和正在進行的修理計劃以及正在推出的其他優化措施的持續影響後,公司將提供生產指導。
LNG in Kazakhstan
哈薩克斯坦液化天然氣
Condor is developing Kazakhstan's first LNG facilities and will produce, distribute, and sell LNG to offset industrial diesel usage. LNG applications include rail locomotives, long-haul truck fleets, marine vessels, mining equipment, municipal bus fleets, agricultural machinery, and other heavy equipment and machinery with high-horsepower engines. These applications have all successfully used LNG fuel in other Countries.
Condor正在開發哈薩克斯坦的第一個液化天然氣設施,並將生產、分銷和銷售液化天然氣以抵消工業柴油的使用。液化天然氣應用包括鐵路機車、長途卡車車隊、海上船舶、採礦設備、市政公交車隊、農業機械以及其他帶有大馬力發動機的重型設備和機械。這些應用都已在其他國家成功使用液化天然氣燃料。
In July 2024, the Company signed its first LNG Framework Agreement (the "Framework Agreement") for the production and utilization of LNG to fuel Kazakhstan's rail locomotives. The Framework Agreement was also signed by Kazakhstan Temir Zholy National Company JSC ("KTZ"), the national railway operator of Kazakhstan and Wabtec Corporation ("Wabtec") (NYSE: WAB), a U.S. based locomotive manufacturer with existing facilities in Kazakhstan. KTZ and Wabtec previously signed a memorandum of understanding which includes modernization work to retrofit KTZ's mainline locomotive fleet for LNG usage and incorporate LNG into new-build locomotives. The Framework Agreement introduces Condor into this locomotive fleet modernization strategy as the supplier and distributor of the LNG.
2024年7月,該公司簽署了第一份液化天然氣框架協議(「框架協議」),以生產和利用液化天然氣爲哈薩克斯坦的鐵路機車提供燃料。框架協議還由哈薩克斯坦國家鐵路運營商哈薩克斯坦鐵米爾卓利國家公司股份公司(「KTZ」)和瓦布泰克公司(「Wabtec」)(紐約證券交易所代碼:WAB)(紐約證券交易所代碼:WAB)簽署,後者是一家總部位於哈薩克斯坦的現有設施的機車製造商。KTZ和Wabtec此前簽署了一份諒解備忘錄,其中包括對KTZ的幹線機車隊進行改造以使用液化天然氣,並將液化天然氣納入新建機車中。該框架協議將Condor作爲液化天然氣的供應商和分銷商引入了這一機車車隊現代化戰略。
The Framework Agreement also provides a detailed framework whereby the three parties will coordinate efforts to ensure that Condor's LNG production volumes coincide with the delivery of new and converted LNG-powered rail locomotives from Wabtec. A working group comprised of members from each of the parties is responsible to identify and monitor the key performance indicators associated with this initiative.
該框架協議還提供了一個詳細的框架,三方將據此協調努力,確保Condor的液化天然氣產量與Wabtec新建和改裝的液化天然氣動力鐵路機車的交付相吻合。由各方成員組成的工作組負責確定和監測與該舉措相關的關鍵業績指標。
The Framework Agreement is critical to supplying a stable, economic and more environmentally friendly fuel source for the Transcaspian International Transport Route ("TITR") expansion, which is currently the shortest, fastest and most geopolitically secure transit corridor for moving freight between Asia and Europe. The Government of Kazakhstan and KTZ are making significant investments in TITR infrastructure, including expanding the rail network, constructing a new dry port at the Kazakhstan – China border, and increasing the container-handling capacities at various Caspian Sea ports.
該框架協議對於爲跨裏海國際運輸路線(「TITR」)擴建提供穩定、經濟和更環保的燃料來源至關重要,該航線是目前亞洲和歐洲之間運輸貨物的最短、最快和地緣政治上最安全的過境走廊。哈薩克斯坦政府和KTZ正在對TITR基礎設施進行大量投資,包括擴大鐵路網絡,在哈薩克斯坦-中國邊境建造新的陸港,以及提高裏海各港口的集裝箱裝卸能力。
The planned first modular LNG facility will be constructed near the town of Alga and produce 120,000 metric tons of LNG annually, which is the energy equivalent volume of 450,000 litres of diesel per day. Phase 1 of the first facility is currently scheduled to commence LNG production in mid-2026, for which a stable feed gas supply was secured in January 2024. The Company is also advancing project funding alternatives.
計劃中的第一個模塊化液化天然氣設施將在阿爾加鎮附近建造,每年生產12萬公噸液化天然氣,相當於每天45萬升柴油的能量當量。第一座設施的第一階段目前計劃於2026年中期開始生產液化天然氣,並於2024年1月確保了穩定的原料氣供應。該公司還在推進項目融資替代方案。
Lithium License in Kazakhstan
哈薩克斯坦的鋰許可證
The Company holds a 100% working interest in the contiguous 37,300-hectare area which provides the subsurface exploration rights for solid minerals for a six-year term (the "Lithium License"). Given its strategic access to Asian and European lithium markets, this region is ideally suited for the rapid deployment of emerging Direct Lithium Extraction ("DLE") technologies to generate lithium for EV batteries and other electricity storage applications.
該公司在連續的37,300公頃區域持有100%的營運權益,該區域提供固體礦物的地下勘探權,爲期六年(「鋰許可證」)。鑑於其進入亞洲和歐洲鋰市場的戰略准入,該地區非常適合快速部署新興的直接鋰提取(「DLE」)技術,爲電動汽車電池和其他儲電應用生產鋰。
The initial development plan for the Lithium License includes drilling and testing two wells to verify deliverability rates, confirm the lateral extension and concentrations of lithium in the tested and untested intervals, conduct preliminary engineering for the production facilities, and prepare a mineral resources or mineral reserves report compliant with National Instrument 43-101 Standards of Disclosure for Mineral Projects.
鋰許可證的初步開發計劃包括鑽探和測試兩口油井以驗證交付率,確認經過測試和未測試的間隔內鋰的橫向延伸和濃度,對生產設施進行初步工程,並編寫符合National Instrument 43-101礦產項目披露標準的礦產資源或礦產儲量報告。
Convertible Debentures
可轉換債券
On March 22, 2024, the Company issued convertible debentures (the "Debentures") convertible into 2,950,336 common shares for gross proceeds of USD $4.8 million (CAD $6.5 million) less debt issue costs of CAD $0.2 million for net proceeds of CAD $6.3 million. The Debentures are unsecured, bear interest at 9% payable in cash semi-annually in arrears, mature in three years, and the principal amount is convertible at any time on or before the maturity date at a conversion price of USD $1.61676 per common share. The Company can force conversion of the Debentures if the 20-day volume weighted average trading price of the Company's shares on the TSX exceeds CAD $3.00. The proceeds are available for general corporate purposes. The Debentures have no associated financial covenants.
2024年3月22日,公司發行了可轉換債券(「債券」),可轉換爲2950,336股普通股,總收益爲480萬美元(合650萬加元),減去20萬加元的債務發行成本,淨收益爲630萬加元。這些債券爲無抵押債券,每半年以現金支付利息9%,三年後到期,本金可在到期日當天或之前隨時兌換,轉換價格爲每股普通股1.61676美元。如果公司股票在多倫多證券交易所的20天成交量加權平均交易價格超過3.00加元,則公司可以強制轉換債券。所得款項可用於一般公司用途。債券沒有相關的財務契約。
RESULTS OF OPERATIONS
操作結果
|
||||
For the three months ended June 30 |
2024 |
2023 |
Change |
|
Natural gas (Mcf) |
||||
Uzbekistan |
5,372,044 |
- |
5,372,044 |
|
Türkiye |
8,419 |
9,007 |
(588) |
|
5,380,463 |
9,007 |
5,371,456 |
||
Condensate (barrels) |
||||
Uzbekistan |
19,395 |
- |
19,395 |
|
Türkiye |
- |
- |
- |
|
19,395 |
- |
19,395 |
||
For the six months ended June 30 |
||||
Natural gas (Mcf) |
||||
Uzbekistan |
7,399,949 |
- |
7,399,949 |
|
Türkiye |
21,395 |
27,542 |
(6,147) |
|
7,421,344 |
27,542 |
7,393,802 |
||
Condensate (barrels) |
||||
Uzbekistan |
27,585 |
- |
27,585 |
|
Türkiye |
- |
10 |
(10) |
|
27,585 |
10 |
27,575 |
|
||||
在截至6月30日的三個月中 |
2024 |
2023 |
改變 |
|
天然氣 (Mcf) |
||||
烏茲別克斯坦 |
5,372,044 |
- |
5,372,044 |
|
土耳其 |
8,419 |
9,007 |
(588) |
|
5,380,463 |
9,007 |
5,371,456 |
||
冷凝水(桶) |
||||
烏茲別克斯坦 |
19,395 |
- |
19,395 |
|
土耳其 |
- |
- |
- |
|
19,395 |
- |
19,395 |
||
在截至6月30日的六個月中 |
||||
天然氣 (Mcf) |
||||
烏茲別克斯坦 |
7,399,949 |
- |
7,399,949 |
|
土耳其 |
21,395 |
27,542 |
(6,147) |
|
7,421,344 |
27,542 |
7,393,802 |
||
冷凝水(桶) |
||||
烏茲別克斯坦 |
27,585 |
- |
27,585 |
|
土耳其 |
- |
10 |
(10) |
|
27,585 |
10 |
27,575 |
ABBREVIATIONS
縮寫
The following is a summary of abbreviations used in this news release:
以下是本新聞稿中使用的縮寫摘要:
Mcf |
Thousands of standard cubic feet |
Mcf/D |
Thousands of standard cubic feet per day |
boe |
Barrels of oil equivalent |
boe/d |
Barrels of oil equivalent per day |
bopd |
Barrels of oil per day |
CEO |
Chief Executive Officer |
CFO |
Chief Financial Officer |
3-D |
Three dimensional |
CAD |
Canadian Dollars |
USD |
United States Dollars |
LNG |
Liquefied Natural Gas |
DLE |
Direct Lithium Extraction |
EV |
Electric Vehicle |
Mcf |
數千標準立方英尺 |
Mcf/D |
每天數千標準立方英尺 |
英國央行 |
桶石油當量 |
boe/d |
每天桶石油當量 |
bopd |
每天桶裝石油 |
首席執行官 |
首席執行官 |
首席財務官 |
首席財務官 |
三維 |
三維 |
CAD |
加元 |
美元 |
美國美元 |
液化天然氣 |
液化天然氣 |
空閒 |
直接提取鋰 |
EV |
電動汽車 |