Valeura Energy has boosted production at its Nong Yao oilfield offshore Thailand following an infill drilling campaign.
The Canadian operator recently drilled two horizontal infill wells at Nong Yao on Block G11/48 in the Gulf of Thailand — operations that were completed ahead of schedule and under budget.
The wells encountered about 1000 and 700 feet of net oil pay, respectively, in their horizontal sections, confirming pre-drill reservoir simulation results. The duo has come on stream as oil producers at a combined initial gross rate of about 1350 barrels per day of crude.
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.
