The Canada-based oil and gas company Valeura Energy has attained two appraisal wells at an oil field in Thailand. The two wells help check have oil accumulations in the reservoirs. The company believes this development could yield an increase in production. These oil wells include A28 and A28-STI drilled to confirm the presence of oil in an untested area. The company anticipates that the results will yield an increase in volumes. The development will include deployment of wellhead and oil processing structures as higher-capacity hub. These developments will increase the oil production amidst the increased production of hydrocarbons. This is also after the global target of reducing production of greenhouse gases.
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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.
