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Valeura Energy acquires FSO Aurora for $19 million, expands drilling program

Valeura Energy has bought the Nong Yao field’s FSO Aurora for $19 million, and expanded the drilling program at its Wassana field in light of favorable initial results.

In a February 13 update shared by the company, Valeura said it had exercised its purchase option to acquire the Nong Yao field’s FSO Aurora, which it had previously leased from the seller, a member of the Omni Offshore Terminals group. 

Purchase price for the vessel is $19 million, and will be funded with the company’s cash resources upon completion of the transaction, anticipated in June 2024. 

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. 

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