Valeura Energy is focused on bulking up its cash reserves, benefiting from higher oil prices, in order to drive future acquisitions, CEO Sean Guest has explained.
The company is “looking to build up a bit of a cash pool as we go through this year and next year”, he explained to Energy Voice in London. “That cash pool really helps you to reduce your cost of capital.”
Guest was talking about prospects for growth in Valeura’s focus area around Thailand.
There is scope for bank debt, he said, “but it’s much more difficult and we’re trying to avoid really going to the equity markets”.
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.
