Support for doing deals has been buoyed as a result of the European gas supply crisis, the CEO said. “There’s an appreciation that we’re going to need hydrocarbons and I think the money markets are seeing that as well,” he said, even while “trying to get an RBL from a bank is not going to happen”.
Valeura Energy has reached an inflection point with the acquisition of assets in Thailand from Mubadala Energy, transforming it from a minnow to the second largest producer in the country.
The company reached a deal with Mubadala in December 2022, completing it in March. Valeura paid $10.4 million for the assets, with a contingent payment of $50mn, which may be triggered by certain future prices.
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.
