Valeura Energy Inc. has successfully completed the acquisition of the Aurora FSO vessel from a subsidiary of the Omni Offshore Terminals group. This vessel is currently stationed at Valeura’s Nong Yao Field development in the Gulf of Thailand.
Previously, Valeura had been leasing the vessel. However, they decided to exercise an option to purchase it outright for $19 million in cash. According to the company, owning the vessel, rather than continuing to lease it, should offer greater operational flexibility and allow for the optimization or reduction of operating expenses.
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.