Condor Energies Boosts Uzbekistan Production, Advances Kazakhstan LNG Plans

Event summary

  • Condor Energies reported a 5.6% quarterly production increase in Uzbekistan, averaging 10,534 boe/d in Q4 2025.
  • The company completed fabrication of its first LNG liquefaction facility in Kazakhstan, expected to ship in Q2 2026.
  • Condor secured a $13.65 million private placement of convertible debentures in December 2025 for development activities.
  • The company plans to sell its Turkish gas fields for a ten-year gross overriding royalty and nominal cash payment.

The big picture

Condor Energies is pivoting towards higher-return growth initiatives in Central Asia, divesting lower-margin Turkish assets to focus on Uzbekistan's production enhancement and Kazakhstan's LNG and critical minerals opportunities. The company's strategic shift aligns with the global energy transition, targeting LNG as a diesel substitute and exploring lithium and copper to capitalize on regional demand. With $13.65 million in new financing and a robust drilling program, Condor aims to accelerate production and establish itself as a key player in Kazakhstan's emerging LNG market.

What we're watching

Production Growth
Whether Condor can sustain its 20% month-to-date production increase in Uzbekistan through 2026.
LNG Execution
The pace at which Condor can finalize third-party financing and commence LNG production in Kazakhstan.
Critical Minerals
How Condor's lithium and copper exploration in Kazakhstan progresses amid increasing regional activity.