Valeura Energy is poised to commence production soon at its Nong Yao C project in the G11/48 license area in the Gulf of Thailand. The upcoming operations are expected to boost the company’s oil output from the Nong Yao region to an estimated peak of 11,000 barrels per day.
Recently, two new infill wells were successfully brought online at the Nong Yao A facility. In total, six horizontal development wells have been drilled for the Nong Yao C initiative, with plans to convert one of the appraisal wells into a seventh production well.
The drilling rig, currently in the Nong Yao Field, is set to move to the Jasmine Field, where it will undertake the drilling of five development wells and two appraisal wells. Additionally, Valeura Energy has plans to explore the Ratree prospect offshore, located in license B5/27, in the near future.
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.
