- Valeura Energy (TSX:VLE) has ramped up oil production at its Nong Yao C oil field offshore development in the Gulf of Thailand
- The Nong Yao complex is now running at full processing capacity, maintaining a stable average production of 13,400 barrels per day (bbls/d) over the past seven days
- Valeura intends to sustain Nong Yao production rates at around 11,000 bbls/d for the rest of the year.
- Valeura Energy Inc. opened trading at C$5.39 per share
Valeura Energy (TSX:VLE) has ramped up oil production at its Nong Yao C oil field offshore development in the Gulf of Thailand.
The Nong Yao complex is now running at full processing capacity, maintaining a stable average production of 13,400 barrels of oil per day (bbls/d) over the past seven days. Of this, 12,100 bbls/d is net to the company’s 90 per cent working interest share, before royalties. Along with the reactivation of the Wassana field, this has led to a consistent total oil production of 26,200 bbls/d (company’s working interest share, before royalties) over the past week.
“Production has been stable for the past week from six of the development wells,” Sean Guest, Valeura president and CEO, said in a statement. “A seventh well is expected to be started within the coming weeks, to create spare production capacity.”
This comes less than two weeks after Valeura announced first production from the Nong Yao C development, when the first three of the seven Nong Yao C development wells were opened up for production.
Valeura intends to sustain Nong Yao production rates at around 11,000 bbls/d for the rest of the year.
Calgary-based 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 Türkiye. 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.
Valeura Energy Inc. (TSX:VLE) stock opened trading 1.13 per cent higher at C$5.39 and has risen 87.68 per cent year to date.
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(Top image: Valeura Energy Inc. on Instagram)