Valeura’s pace in the Gulf of Thailand is accelerating. A ten‑well drilling campaign at the Nong Yao field wrapped up on time and within budget, lifting production significantly. The programme included a mix of horizontal and vertical wells targeting multiple reservoirs, and by the end of September, average working interest production had climbed from around 8,000 barrels per day to over 11,500.
Valeura is immediately moving the same rig to the Jasmine field, where it plans up to nine more wells in early 2026. The scope here is also tightly focused on infill opportunities, which typically offer quick payback and help extend the field life without relying on external infrastructure.
But Valeura isn’t only drilling existing fields, it is also expanding its position. Through a recent farm‑in with PTTEP, the company added exploration acreage that increases its total offshore coverage by more than eight times, bringing new exposure to underexplored areas while maintaining control of its core producing assets.
The company also reaffirmed its next major development target, the Wassana redevelopment, which is expected to deliver first oil in the second quarter of 2027. Once online, that project is forecast to add another 10,000 barrels per day, further lifting corporate production capacity without overextending the balance sheet.
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.
