Condor Energies
Condor Energies is a TSX-listed Calgary-based energy company operating first-mover gas production, LNG, and critical minerals initiatives in Central Asia. It enhances production under contract with Uzbekistan's national oil company, is building Central Asia's first LNG facility in Kazakhstan, and holds lithium and copper mining licenses.
- Company typePublic
- Founded2007
- HeadquartersCalgary, Canada
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Condor Energies does
Condor Energies Inc. is a TSX-listed (CDR.TO) Calgary-headquartered energy company with a 165-person team focused on three first-mover initiatives in Central Asia. The company's primary revenue-generating asset is a Production Enhancement Services Contract (PESC) with state-owned JSC Uzbekneftegaz (UNG) covering an integrated cluster of eight conventional natural gas-condensate fields across 282 km² of license area in Uzbekistan. Under the contract structure, Condor recognizes 100% of production, sales revenues, royalties, and expenses, then allocates 49% to a non-controlling interest. Production reached a corporate record of 15,283 boe/d in May 2026, a 41% year-over-year increase despite a 20% legacy decline rate, with 2026 exit guidance of 18,000-20,000 boe/d. Q1 2026 Uzbekistan sales were $22.56 million.
In Kazakhstan, Condor is building Central Asia's first modular LNG facility with 48,000 gallons (80 MT) per day initial capacity to supply diesel-displacement fuel for rail locomotives, long-haul trucks, marine vessels, mining equipment, and municipal fleets. Three government feed-gas allocations have been secured with land rights until July 2059. The company also holds 44,100 hectares of contiguous mining licenses (Sayakbay 37,300 ha and Kolkuduk 6,800 ha) for lithium brine and copper exploration, targeting the energy transition supply chain.
Condor's business model combines government-anchored production contracts, direct industrial LNG sales, and pre-revenue critical minerals development. The company applies proven Western technologies including horizontal drilling with LWD geo-steering, Uzbekistan's first in-line field separation system, plunger lift systems, and modular LNG architecture. Since 2022, the company has raised approximately CAD $90M across multiple private placements, brokered offerings, term loans, convertible debentures, and a $29.9 million bought deal public offering in April 2026. In January 2026, Condor divested its non-core Türkiye assets (Poyraz Ridge and Destan fields) for a ten-year gross overriding royalty to concentrate capital on Uzbekistan and Kazakhstan operations.
Condor Energies firmographics
Firmographics- Name
- Condor Energies
- Legal name
- Condor Energies Inc.
- Website
- https://condorenergies.ca/
- Company type
- Public
- Founded year
- 2007
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Condor Energies is a TSX-listed Calgary-based energy company operating first-mover gas production, LNG, and critical minerals initiatives in Central Asia. It enhances production under contract with Uzbekistan's national oil company, is building Central Asia's first LNG facility in Kazakhstan, and holds lithium and copper mining licenses.
- Ownership category
- akta.pro rank
Condor Energies industry classification
Industry- Product category
- Oil and Gas Exploration & Production
- NAICS
- Natural Gas Extraction (21113), Petroleum and Coal Products Manufacturing (3241)
- SIC
- Oil & Gas Field Exploration Services (1382), Natural Gas Transmisison & Distribution (4923)
- akta.pro primary industry
- Gas-to-Power Project Development (IPP/CPP, Permitting, Financing) (EUALALAC)
- akta.pro secondary industry
- LNG-to-Power (FSRU/Regas-Fed Gas Power Plants) (EUACABAG)
Keywords
Where Condor Energies is headquartered
LocationHeadquarters
- HQ city
- Calgary
- HQ country
- Canada
- HQ region
- North America
Offices4 records
Markets served
Condor Energies business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Technology or R&D, Supply Chain
Revenue model
- Natural Gas and Condensate Sales: Production and sale of natural gas and condensate from eight conventional gas-condensate fields in Uzbekistan under a production enhancement services contract. The company recognizes 100% of production volumes, sales volumes, sales revenues, royalties and expenses, then allocates 49% to the non-controlling interest holder.
- LNG Production and Sales: Production and sale of LNG from modular facilities in Kazakhstan to displace diesel fuel usage in rail locomotives, long-haul trucks, marine vessels, mining equipment, municipal bus fleets, and high-horsepower heavy equipment. Three natural gas allocations awarded totaling significant volumes.
- Critical Minerals Development: Exploration and development of lithium brine deposits and copper mineralization in Kazakhstan from two contiguous mining licenses (Sayakbay 37,300 hectares and Kolkuduk 6,800 hectares). Revenue would come from future mineral production sales.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels4 records
Condor Energies product offering
Product offeringCore offering
Condor Energies operates a Production Enhancement Services Contract with JSC Uzbekneftegaz to increase production from eight conventional natural gas-condensate fields in Uzbekistan, sells natural gas and condensate. In Kazakhstan, the company is constructing and operating modular LNG facilities to displace diesel fuel in transportation and industrial sectors, and holds mining licenses for lithium brine and copper exploration and development.
Product overview
Condor Energies is a TSX-listed energy transition company operating three distinct first-mover initiatives: (1) Uzbekistan Gas Production Enhancement - increasing natural gas and condensate production from existing fields under a Production Enhancement Services Contract with JSC Uzbekneftegaz; (2) Modular LNG Production - constructing and operating Central Asia's first LNG facilities in Kazakhstan to produce low-carbon diesel substitution fuel; and (3) Critical Minerals Development - exploring and developing lithium brine and copper deposits from mining licenses in Kazakhstan. The company uses proven Western technologies to develop these assets across Central Asian markets.
Differentiator
Problem solved
Functional benefit
Products and services
- Uzbekistan Gas Production Enhancement
- Modular LNG Production
- Critical Minerals Development (Lithium and Copper)
Quantifiable outcome
- 41% year-over-year production increase despite 20% natural decline rate
- +6 more outcomes
Companies that use Condor Energies
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles2 records
Condor Energies technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Condor Energies partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and minor.
- JSC Uzbekneftegaz (UNG)coreGovernment-owned national holding company in Uzbekistan. Condor operates under a production enhancement services contract as the first Western strategic operating partner to increase production from eight conventional gas-condensate fields.
- KPMGminorCompany auditors located at KPMG Tower, 2200 – 240 4th Avenue SW, Calgary, AB, T2P 4H4.
- Norton Rose FulbrightminorLegal counsel located at 3700, 400 – 3rd Ave SW, Calgary, AB, T2P 4H2.
- DentonsminorLegal counsel in Uzbekistan at 58-a Bobur Street, Tashkent, Uzbekistan 100022.
- McDaniel & AssociatesminorReserve auditors at 200, 255 – 5th Ave SW, Bow Valley Square 3, Calgary, AB, T2P 3G6.
- ComputershareminorTransfer agent at 530 – 8th Ave SW, Calgary, AB, T2P 3S8.
- Government of KazakhstancoreAwarded three natural gas allocations to Condor for LNG production totaling significant volumes. Continues to support Condor's LNG initiatives for greater energy security and greenhouse gas reduction targets. Provided land rights at Saryozek Site until July 2059.
Scale indicators14 records
Recent moves7 records
Expansion highlights6 records
Condor Energies competitors and assessment
Company assessmentMarket position
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Condor Energies social profiles
Digital presenceCondor Energies financial estimates
Financial estimateRevenue estimate
Valuation estimate
Condor Energies leadership team
Management profileNumber of profiles
Profiles7 records
Condor Energies subsidiaries and ownership
Company hierarchySubsidiaries3 records
Condor Energies funding detail
Funding detailFunding overview
Funding rounds7 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Condor Energies M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Condor Energies
What does Condor Energies do?
Condor Energies operates a Production Enhancement Services Contract with JSC Uzbekneftegaz to increase production from eight conventional natural gas-condensate fields in Uzbekistan, sells natural gas and condensate. In Kazakhstan, the company is constructing and operating modular LNG facilities to displace diesel fuel in transportation and industrial sectors, and holds mining licenses for lithium brine and copper exploration and development.
Is Condor Energies a public or private company?
Condor Energies is a public company. It is classified as public and is currently operating.
When was Condor Energies founded?
Condor Energies was founded in 2007. It employs 101 to 250 people.
Where is Condor Energies based?
Condor Energies is headquartered in Calgary, Canada, in the North America region.
How does Condor Energies make money?
Three revenue lines are on record. Natural Gas and Condensate Sales are the primary driver. The others are LNG Production and Sales and critical Minerals Development.
Does Condor Energies have an API?
No public API is recorded for Condor Energies.
What industry is Condor Energies in?
Condor Energies's product category is Oil and Gas Exploration & Production. Its primary akta.pro industry code is EUALALAC, Gas-to-Power Project Development (IPP/CPP, Permitting, Financing), with a secondary code of EUACABAG, LNG-to-Power (FSRU/Regas-Fed Gas Power Plants). Its NAICS code is 21113 and its SIC code is 1382.