Valeura Energy has unveiled a robust budget of $125 million to $150 million for its 2025 global exploration and production initiatives, demonstrating its commitment to expanding its footprint and enhancing operational efficiency. With an additional $11 million earmarked for exploration drilling, the company is strategically positioned to pursue growth while optimising production across its key assets.
Nearly 85% of the capital expenditure will focus on drilling, with a dedicated rig operating offshore Thailand throughout the year. The remaining funds will support brownfield development projects, reinforcing Valeura’s emphasis on maximising the value of existing assets. The Nong Yao field in license G11/48 has emerged as the cornerstone of this strategy, contributing an estimated 40% of the company’s total production this year. Valeura’s 11 planned development and appraisal wells in the Nong Yao region aim to enhance recovery from producing reservoirs, tap into untapped fault blocks, and explore deeper reservoir layers. This initiative follows last year’s discovery in the Nong Yao D area, where seismic interpretation has revealed additional exploration opportunities, potentially paving the way for future development.
In the Jasmine field on license B5/27, Valeura is set to drill 13 development and appraisal wells. These efforts will focus on introducing horizontal laterals to improve oil recovery and solidify reserve estimates. The company is also advancing its sustainability agenda, with plans to deploy a low BTU gas generator by the end of Q1. This innovation will repurpose waste gas streams for power generation, cutting Jasmine’s emissions intensity and reducing its reliance on diesel power.
Elsewhere, Valeura is evaluating new opportunities at the Ratree prospect in license B5/27, which could open doors to additional field developments. Similarly, the Manora field in license G1/48 is poised for increased output, supported by a five-well infill drilling programme targeting both development and appraisal zones.
While no new drilling is slated for the Wassana field in license G10/48 this year, the company is progressing front-end engineering and design (FEED) studies for its redevelopment. These efforts aim to unlock commercial potential from recent discoveries, with a final investment decision (FID) anticipated by early Q3.
Valeura Energy is strategically harnessing its technical expertise, sustainability initiatives, and exploration insights to drive growth and value creation. By balancing aggressive exploration with operational efficiency, the company is building a foundation for long-term success in the global energy market.
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.
