By Robb M. StewartCondor Energies shares rallied Tuesday after the Canadian company reached an agreement with the government of Uzbekistan and national energy company JSC Uzbekneftegaz to enhance natural gas production at eight gas fields. In morning trading, the shares were 16% higher at C$0.53, widening their year-to-date gain to 43%. Condor said if definitive agreements are reached, it would implement a comprehensive field refurbishment, infill drilling, and an emissions-intensity reduction plan. Produced gas would be processed under long-term agreements with Uzbekneftegaz using fixed tariffs and will be sold domestically under long-term contracts with the state gas marketing company. Write to Robb M. Stewart at robb.stewart@wsj.com(END) Dow Jones NewswiresMay 23, 2023 10:39 ET (14:39 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.

Source: Wall Street Journal May 24, 2023 02:43 UTC