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Valeura Energy extends Borr Drilling jack up contract for 12 months

Valeura Energy has signed up to extend the contract for its Borr Drilling jack up, driving progress off southern Thailand.

Borr announced the contract today. The Mist jack up will remain at work for Valeura for another 12 months, it said.

This is in direct continuation of the existing contract. It will see the facility in operation until August 2025. The Mist’s current contract was due to expire in August.

The rig is currently drilling on the Wassana field. It moved there in mid-December, to carry out an infill drilling programme on three horizontal development wells.

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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