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Valeura lets rig contract for Gulf of Thailand drilling

Valeura Energy Inc., Calgary, has let a contract to Petrovietnam Drilling and Well Service Corp. to charter the PV Drilling I jack up drilling rig to support its Gulf of Thailand operations in 2023.

The rig is expected to mobilize to Wassana oil field sometime in second-quarter 2023, where it will conduct an initial scope of work comprised of the company’s five well infill drilling program, the company said in an Oct. 4 release.

The contract includes an option to extend the scope of work thereafter to include additional drilling operations.

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. 

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