- Valeura Energy (TSX:VLE) has increased production in the Jasmine field offshore the Gulf of Thailand following a five-well infill drilling campaign
- Aggregate oil production from the field averaged 9,801 barrels per day before royalties between November 19-25, 2024, up by 26 per cent from September
- Valeura is a Canadian company in the business of exploring, developing and producing oil and natural gas in Thailand, Turkey and across Southeast Asia
- Valeura Energy stock has added 62.72 per cent year-over-year and 326.36 per cent since 2019
Valeura Energy (TSX:VLE) has increased production in the Jasmine field offshore the Gulf of Thailand following a five-well infill drilling campaign.
The campaign – based in the 100-per-cent owned Licence B5/27 – included two wells on the Jasmine A platform completed in September 2024 and three wells on the Jasmine D platform completed more recently, all of which have been brought into production. The company is also appraising numerous additional reservoir intervals in the surrounding area.
Aggregate oil production from the Jasmine field averaged 9,801 barrels per day (bbls/d) before royalties between November 19-25, 2024, an increase of 26 per cent from 7,764 bbls/d between September 6-12.
Valeura’s contracted drilling rig has since broken ground on the Manora field on Licence G1/48 (70 per cent working interest), where a five-well infill drilling program will focus on production and appraisals.
Leadership insights
“I am very pleased with our drilling performance at Jasmine, which has resulted in aggregate oil production rates of nearly 10,000 bbls/d (before royalties) over the last seven days,” Sean Guest, Valeura Energy’s president and chief executive officer, said in a statement. “Maintaining oil production at this asset is key to generating ongoing cashflow from our portfolio. In addition, the fact that we continue to see appraisal successes at this relatively mature field bodes well for our objective to further extend the economic life of the asset. We expect the results of these wells and the recent production rates to be considered as part of our year-end reserves assessment and to support our target of achieving more than a 100 per cent reserves replacement ratio.”
About Valeura Energy
Valeura is a Canadian company in the business of exploring, developing and producing oil and natural gas in Thailand, Turkey and across Southeast Asia.
Valeura Energy stock (TSX:VLE) is up by 5.97 per cent trading at C$5.50 per share as of 11:46 am ET. The stock has added 62.72 per cent year-over-year and 326.36 per cent since 2019.
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(Top photo: Valeura Energy)
