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Valeura Energy Inc T.VLE

Alternate Symbol(s):  VLERF

Valeura Energy Inc. is an upstream oil and gas company engaged in the production, development, and exploration of petroleum and natural gas in the Gulf of Thailand and the Thrace Basin of Turkiye. The Company holds an operating working interest in four shallow water offshore licenses in the Gulf of Thailand, which include G10/48 (Wassana field), B5/27 (Jasmine and Ban Yen fields), G1/48 (Manora field) and G11/48 (Nong Yao field). It holds a 100% operating interest in license B5/27 containing the producing Jasmine and Ban Yen oil fields. It holds an operated 70% working interest in license G1/48 containing the Manora oil field, which produces approximately 2,935 barrels per day (bbls/d) of medium-weight sweet crude oil. The Company holds interests ranging from 63% through 100% in various leases and licenses in the Thrace basin. The Company also operates Floating Storage and Offloading (FSO) vessel Aurora, location at Nong Yao field, offshore Gulf of Thailand.


TSX:VLE - Post by User

Post by nozzpackon Dec 14, 2022 8:28pm
335 Views
Post# 35172210

Initial Drilling Success of the Jasmine oil field

Initial Drilling Success of the Jasmine oil field

The Jasmine field is situated on the northwestern flank of the Pattani trough, in water depths of 200 ft, producing oil from over 30 separate sandstone reservoirs at depths of 2,600-5,200 ft below sea leve

It came into productiin at the end of 2005, at which time Jasmine’s initial production capacity from a single drilling platform with  11 wells producing was around 10,000 b/d.

Two new drilling platforms will be installed in the field, followed up with six wells, which will increase daily output beginning in early 2007.

Early wells had identified 52 significant individual pay zones within dip closed fault blocks.

The oil and gas zones were encountered within fluvial sandstones in a Miocene-Oligocene stratigraphic section. Oil flowed to the surface in more than 20 drillstem tests.

 

Following interpretation of the new 3D seismic data, 12 development wells were drilled from the Jasmine A platform.

Development drilling started in April 2005 and took just 75 days to complete at an average rate of 3,488 ft per day with each of the 12 wells hitting its geological targets.

Simultaneously to the development drilling, a five-well exploration program to the north and south of the Jasmine A platform location, with all five wells finding hydrocarbons.

One of the wells reputedly set a record for net oil pay offshore Thailand, intersecting approximately 560 vertical ft of net oil-bearing sandstones, which led to a decision on adding two more platforms, B & C, to the field this year.

These historical wells show that Being on the flank of the prodigious Pattani Trough means high success rate and very productive wells.

With nine new development wells already drilled by Mubby, it's a reasonable supposition as to where those extra 4000 barrels per day are going to come from once Valeura closes the deal in 5 or 6 weeks time.

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