Valeura Energy Inc
TSX:VLE
Valeura Energy Inc
Valeura Energy, Inc. engages in the exploration, development and production of petroleum and natural gas in Turkey. The company is headquartered in Calgary, Alberta and currently employs 8 full-time employees. The company went IPO on 2004-02-09. The firm is engaged in the exploration and development of petroleum and natural gas in Turkey. The Company’s land assets are located in the Thrace Basin of Turkey. The company holds both a legal and contractual interest in deeper rights, associated with its deep tight gas play, including the South Thrace and West Thrace Production Leases, as well as a West Thrace Exploration License and two Banarli Exploration Licenses. This includes a total of approximately 0.407 million gross acres (0.337 million net acres). The firm has access to local gas markets via the existing gas transportation infrastructure, for use in testing future deep tight gas appraisal wells.
Valeura Energy, Inc. engages in the exploration, development and production of petroleum and natural gas in Turkey. The company is headquartered in Calgary, Alberta and currently employs 8 full-time employees. The company went IPO on 2004-02-09. The firm is engaged in the exploration and development of petroleum and natural gas in Turkey. The Company’s land assets are located in the Thrace Basin of Turkey. The company holds both a legal and contractual interest in deeper rights, associated with its deep tight gas play, including the South Thrace and West Thrace Production Leases, as well as a West Thrace Exploration License and two Banarli Exploration Licenses. This includes a total of approximately 0.407 million gross acres (0.337 million net acres). The firm has access to local gas markets via the existing gas transportation infrastructure, for use in testing future deep tight gas appraisal wells.
Strong Q3 Performance: All key operating and financial metrics improved both year-over-year and quarter-over-quarter, with production, lifting, and margins up.
Production Growth: Q3 production reached nearly 23,000 barrels per day, up 7% from last quarter, mainly driven by the successful drilling campaign at the Nong Yao field.
Cost Control: Operating costs per barrel fell to $24.8, reflecting ongoing efforts to improve efficiency.
Higher Realized Prices: Realized oil price for the quarter was $72.1 per barrel, up from $67.9 last quarter, with the crude premium to Brent expanding to $2.5.
Wassana Project Progress: Redevelopment is about 35% complete and on track for first oil in Q2 2027, with high confidence in delivering on or below budget.
PTTEP Farm-in: The strategic farm-in with PTTEP expands Valeura’s acreage and brings immediate and longer-term growth opportunities, with multiple exploration wells drilled and discoveries already made.
Balance Sheet Strength: Cash and adjusted net working capital have almost doubled year-over-year, supporting future investments and M&A.
Guidance Reconfirmed: Full-year production guidance is maintained, though expected at the lower end.
