Valeura Energy is making strategic advancements in the Gulf of Thailand, successfully completing its infill drilling campaign at the Manora field in Licence G1/48. This initiative has significantly boosted production, unlocking new opportunities for future development.
The programme consisted of three production-oriented infill wells and two appraisal wells. As a result, Valeura’s 70% working interest share has risen from 2,144 barrels per day (bpd) to 2,866 bpd in just two weeks. The campaign has also pinpointed up to five additional drilling targets, presenting further potential for growth.
The A34 well was drilled into the deep 600-series sands in the eastern fault block and completed as a multi-zone comingled producer. Meanwhile, the horizontal A38 well targeted the shallower 300-series sands, incorporating an innovative downhole autonomous inflow control device (ICD) to optimise water and oil production. Valeura is closely monitoring the impact of ICDs for broader application across its portfolio.
The A36 well targeted multiple established producing intervals in the main fault block and has been completed as a multi-zone infill development well. Production is currently focused on the deepest zones, with shallower zones set to be brought online in the future. The A35 well appraised several 300-series sand zones, and while it has been plugged and abandoned, its findings indicate the potential for three additional development wells.
The horizontal A37 well served as both an appraisal and development well, successfully identifying a promising appraisal target in the 500-series sands, which will be matured for future drilling. Additionally, its deeper 600-series sands target has been completed as a producer, contributing to Valeura’s expanding production base.
Following the Manora campaign, Valeura has shifted its contracted drilling rig to Licence B5/27, where it is actively conducting a drilling programme on the Jasmine C wellhead platform. This move comes on the heels of a recently completed infill drilling campaign at the Jasmine field, which saw the successful drilling of five wells—two on Jasmine A and three on Jasmine D—now contributing to production.
Valeura Energy Inc (TSX:VLE) is an upstream oil & gas company, with a clear strategy to add value for shareholders. The Company has a strong balance sheet positioning it for potential inorganic growth opportunities in the near/medium-term, and substantial longer-term upside potential through an operated deep, tight gas play.
