Valeura Energy has reported a productive first quarter in 2024 with oil production averaging 21.9 thousand barrels per day and a peak rate of approximately 23 thousand barrels per day, alongside a strong financial performance featuring revenue of $149.4 million and a robust cash balance of $193.6 million.
The company successfully completed scheduled maintenance within time and budget, and achieved a slight premium in oil price realisations over Brent crude benchmarks.
With no debt on the books, Valeura Energy is looking to leverage its solid Q1 results to explore value-adding opportunities, including further exploration and development projects.
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.
