- Valeura Energy has completed an infill drilling campaign at its Nong Yao oil field offshore in the Gulf of Thailand
- The company drilled four wells at the Nong Yao A wellhead processing platform
- This also included three production-oriented development wells and one appraisal well
- Shares of Valeura Energy are up 3.53 per cent to C$2.93 as of 11:30 am ET.
Valeura Energy (TSXV:VLE) has completed an infill drilling campaign at its Nong Yao oil field offshore in the Gulf of Thailand.
The company stated in a news release that it completed the drilling of four wells at the Nong Yao A wellhead processing platform.
“I am pleased to see continuing success at the Nong Yao field. This campaign focused on the area first developed at Nong Yao, and illustrates our team’s ability to add volumes through infill drilling and to extend the economic life of our legacy producing assets,” Sean Guest, CEO of Valeura Energy, said in a statement.
Valeura Energy said the results “exceeded expectations” and that the well confirmed roughly 50 feet of new net oil pay over several intervals.
Looking into 2024, the company said commercialization remains on track for infrastructure and development drilling beginning in Q1.
Already the drill rig has been mobilized to the Wassana field where a drilling program of three production-oriented development wells will take place.
Valeura Energy is an upstream oil and gas company focused on the production, development, and exploration of petroleum and natural gas in the Gulf of Thailand and onshore Turkey. It is also pursuing inorganic growth in Southeast Asia and holds an operating working interest in four shallow water offshore licenses in the Gulf of Thailand
Shares of Valeura Energy are up 3.53 per cent to C$2.93 as of 11:30 am ET.
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