Canada-based Valeura Energy Inc., an upstream oil and gas company with assets in the Gulf of Thailand and the Thrace basin of Turkey, successfully completed an infill drilling campaign at its Nong Yao oil field (90% operated working interest), offshore Gulf of Thailand.
The company has drilled four wells at the Nong Yao A wellhead processing platform, including three production-oriented development wells and one appraisal well. The development wells have encountered targets in line with pre-drill expectations and have been brought online as producers.
The appraisal well was designed to delineate the extent of certain reservoir intervals in the field that are currently not producing.
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.
