Valeura Energy Inc. T.VLE

Q3 production

[Hannamuk]

The Company's net working interest oil production averaged 19,961 bbls/d during Q3 2023. 

[bfw]

  Yikes, they missed guidance by 39 barrels a day! Good thing Brent was high in the quarter and they are stacking cash. Oh, also good news about Wassana drilling and don't forget about tax pools.... Guess the bears need to latch on to something but probably better to short overvalued vs undervalued stocks. bfw

[Hannamuk]

Compared to Q2 2023  Oil production of 22,097 bbls/d;

[bfw]

Math is tough ;)   As a precautionary measure, Valeura has opted to temporarily suspend production operations at the field, which had been producing approximately 2,400 bbls/d of oil at the time of the event, representing approximately 10% of Valeura's aggregate net production. The Company is undertaking a thorough review of safety and operating practices on the third-party operated

[firstworld]

Declining production dispite the $30M drilling built up a while $5M mth cash.  Horrible.  Theye are supposed to be at 25K bbl day. Hilarious to see SG praising rhis dismal performance. 

[windymayor1]

Exactly. Shares should pop when they announce re-commencement of production at Wassanna. One quarter of 10% off-line is certainly not a deal breaker.  That $ will probably go directly towards debt reduction.