Valeura Energy reported strong financial and operating results for the second quarter of 2026, supported by higher oil prices and sales volumes. The company generated revenue of US$259.8 million and free cash flow of US$104.7 million, while its shares also attracted market attention in October.
Production averaged 22,309 barrels of oil per day during the second quarter, with total production reaching 2.03 million barrels. Oil sales were higher at 2.454 million barrels, reflecting the sale of oil held in inventory from the previous quarter.
Average realised oil prices increased 56% year on year to US$105.80 per barrel, helping revenue approximately double compared with the second quarter of 2025.
Adjusted cash flow from operations reached US$154.1 million, while adjusted EBITDAX was US$162.8 million. Valeura ended June with US$316.5 million in cash, including restricted cash, and no debt.
The company also reduced the restricted cash associated with its Manora field decommissioning obligations by agreeing a lower security requirement with Thailand’s upstream regulator. This resulted in a 31% reduction in restricted cash.
Operationally, Valeura completed drilling work at its Nong Yao field, including the longest horizontal lateral recorded in the Gulf of Thailand and Thailand’s first complex multi-lateral development well.
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.
