Valeura Energy Inc. (LON:VLE), a dynamic oil and gas exploration and production company focused on offshore Thailand, continues to impress with its operational performance and strategic outlook. A recent research note by Canaccord Genuity, authored by analysts Charlie Sharp and Phil Hallam, underscores the company’s robust performance and potential for future growth.
Exceptional Q3 2024 Performance
The company’s Q3 2024 results reaffirmed its strong trajectory, with production reaching 22.2 kbopd, a 5% increase compared to Q2. Impressively, this momentum continued into September and October, with production climbing to 26.4 kbopd. According to the report, “The results and presentation have confirmed the rude health of Valeura, with strong production growth in H2 24, anticipated higher 2025 production than pre-Q3 consensus, and continued very strong balance sheet.”
Valeura’s Nong Yao field has been a cornerstone of its success, producing 11.6 kbopd by the end of Q3. This field, which boasts low operating costs, has remained stable over the past two months and serves as the company’s primary cash flow generator.