Condor Energies Boosts Uzbekistan Production by 35% Amid LNG and Critical Minerals Push
Event summary
- Condor Energies reported a 35% year-over-year increase in Uzbekistan production to 13,851 boe/d in Q2 2026.
- The company achieved a new production record of 17,925 boe/d over a 7-day period in August 2026.
- Condor completed a $29.9 million public offering in April 2026 to fund field development and LNG initiatives.
- The first LNG facility in Kazakhstan is on track for Q1 2027 production, with third-party financing discussions ongoing.
The big picture
Condor Energies is expanding its footprint in Central Asia through increased natural gas production in Uzbekistan and LNG development in Kazakhstan. The company's strategic focus on energy transition aligns with regional government priorities, while its critical minerals licenses position it for potential long-term value creation. With $29.9 million raised in April 2026, Condor is well-funded to execute its growth plans, but operational and market risks remain.
What we're watching
- Production Growth
- Whether Condor can sustain its 35% production growth amid downstream infrastructure constraints and high ambient temperatures.
- LNG Execution
- The pace at which Condor advances its LNG facility in Kazakhstan, including securing third-party financing and off-taker agreements.
- Critical Minerals Potential
- How Condor’s exploration of lithium and copper deposits in Kazakhstan progresses, particularly with adjacent activity from major mining companies like Rio Tinto.
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