Valeura Energy Inc. reports company developments tied to its petroleum and natural gas exploration, development, and production business in Thailand and Türkiye. Recurring updates cover Gulf of Thailand drilling campaigns, production from fields such as Manora, Jasmine, Ban Yen, and Wassana, offshore rig commitments, reserves and resource reporting, crude oil sales, realized pricing, and operating cash position.
News also covers Valeura's reinvestment in its producing asset portfolio, project acceleration plans, Southeast Asia growth activity, and responses to Thai energy-security policy affecting domestic crude supply. The company's updates commonly include operating performance, capital allocation, field redevelopment, health, safety, environmental stewardship, and greenhouse-gas intensity initiatives across its Thailand portfolio.
Valeura Energy (VLERF) reported Q3 2026 oil production averaging 22.1 thousand barrels per day, in line with its plan. Sales of 2.013 million barrels at an average US$97.4 per barrel generated US$196.1 million in revenue. Cash increased to US$384.9 million at September 30, including US$15.8 million restricted cash, with no debt.
Valeura discovered the Suraphi oil field and approved the first phase of Bussabong gas development. Completion of its 40% non-operated interest assignment in Block G3/65 is anticipated in October 2026 following cabinet approval. Onshore construction of the Wassana central processing platform finished on October 1. Valeura expects first oil at approximately the beginning of Q2 2027, with its approximately two-month schedule acceleration on track. Jasmine reached cumulative production of 100 million barrels on September 21. Certain financial and operating figures are preliminary and unaudited.
Valeura Energy (VLERF) has taken a Final Investment Decision with partner PTTEP to proceed with Phase 1 development of the Bussabong gas field (Block G3/65, 40% non-operated working interest) in the offshore Gulf of Thailand.
Phase 1 will use two 24-slot gas wellhead platforms tied via a 9 km subsea pipeline to existing PTTEP-operated Bongkot processing facilities, requiring no new processing capacity. Net to Valeura, facilities, installation and pipeline capex is expected to be approximately US$35 million over 2027‑2028, plus US$20‑25 million for drilling 25 development wells, with no material spending planned in 2026. First gas is anticipated around year-end 2028. The operator has indicated Phase 1 is intended to deliver gross sales gas of about 30 mmcf/d in 2029 and 40 mmcf/d in 2030, equating to 12 mmcf/d and 16 mmcf/d respectively for Valeura’s 40% share.
Valeura Energy (VLERF) reports a new Suraphi oil discovery near its Manora field and successful development and appraisal drilling on the Jasmine field in the Gulf of Thailand.
The Suraphi discovery, drilled from the Manora-9 well and sidetracks about 4.5 km northeast of Manora A, encountered oil-bearing sandstone intervals in two fault blocks, with net oil pay of 162 ft in the E prospect and 172 ft in the D prospect. The company believes the discovery can likely support a new satellite facility tied back to the existing Manora-A platform and could facilitate development of the nearby Malida field.
On Jasmine, four new wells lifted oil output from approximately 7,570 bbl/d to about 8,250 bbl/d (before royalties), and generated additional organic investment opportunities.
Valeura Energy (VLERF) has received Thai Cabinet approval for the transfer of interest from PTTEP to Valeura under its strategic farm-in to offshore Blocks G1/65 and G3/65 in the Gulf of Thailand.
Under the farm-in terms, Valeura is to earn a 40% undivided working interest in the Blocks by paying 40% of back costs plus the cost of a 163 km2 3D seismic acquisition over the Nong Yao Northeast focus area, which Valeura will carry. Total costs to be paid by Valeura were estimated at US$25.6 as of 31 August 2026, including a US$1.85 million deposit already paid and US$2.8 million for the carried 3D seismic. The remaining amount covers Valeura’s share of prior 3D seismic, four exploration wells drilled in 2025, geotechnical work, licence fees and development planning.
Valeura Energy (VLERF) has been recognised as a TSX30 2026 winner and received Thailand’s 2026 EIA Monitoring Award. The TSX30 ranking highlights the 30 top-performing stocks on the Toronto Stock Exchange by dividend-adjusted share price performance over three years; Valeura’s share price increased by 471% between June 30, 2023 and June 30, 2026. Thailand’s Office of Natural Resources and Environmental Policy and Planning also awarded Valeura an EIA Monitoring Award at the “excellent” tier for four of its offshore Gulf of Thailand fields, recognising its environmental impact assessment monitoring performance.
Valeura Energy (OTCQX:VLERF) plans to accelerate redevelopment of its 100%-owned Wassana field on block G10/48 in the Gulf of Thailand. Construction of the new central processing platform (CPP) is on budget and expected to reach mechanical completion by October 1, 2026, enabling earlier offshore installation.
Commercial and contractual arrangements allow CPP installation to start in October 2026, around two months ahead of the original schedule, with first oil from the new development now targeted for around the beginning of Q2 2027. Valeura has also instructed its rig contractor to charter the Shelf Enterprise from November 1, 2026, initially for Nong Yao wells and then for Wassana drilling. According to the company, 2026 Adjusted capex guidance rises to US$220–235 million from US$195–215 million, largely shifting spend from 2027, and a two‑month earlier start-up could add about 430,000 barrels of oil production in 2027 at an anticipated plateau of roughly 7,500 bbls/d.
Valeura Energy (OTCQX:VLERF, TSX:VLE) reported record Q2 2026 results, with oil production of 2.030 million bbls (22,309 bbls/d, +4% year-on-year), oil sales of 2.454 million bbls, and average realised prices of US$105.8/bbl.
Revenue reached US$259.8 million, roughly double Q2 2025, driven by higher prices and sales volumes. Adjusted EBITDAX was US$162.8 million, adjusted cash flow from operations US$154.1 million, and free cash flow US$104.7 million. Operating costs were US$58.3 million (US$28.7/bbl). Cash increased to US$316.5 million (including US$15.8 million restricted cash), with no debt and adjusted net working capital of US$321.7 million. Valeura secured a revolving credit facility of up to US$75 million, with an uncommitted accordion of up to US$250 million, reduced Manora decommissioning security (cutting restricted cash by 31%), advanced key projects at Nong Yao and Wassana, and maintained 2026 production and opex guidance while narrowing production guidance to 20,000–22,000 thousand bbls.
Valeura Energy (TSX:VLE, OTCQX:VLERF) has entered into its first debt facility, a senior secured revolving credit line of up to US$75 million, arranged by ICBC Standard Bank, Macquarie Bank, Trafigura and UOB. The Facility carries a three-year tenor, a 4.00% margin over SOFR on drawn amounts and a 2.00% commitment fee on undrawn commitments, with market-standard financial covenants, no mandatory hedging, and no mandatory principal repayments in the first two years.
The Facility includes an uncommitted accordion feature of up to US$250 million, subject to lender consent and market liquidity, which could lift total commitments to US$325 million. Combined with Valeura's approximately US$320 million cash at June 30, 2026, this creates total potential liquidity of about US$645 million. According to the company, funds are intended mainly to support mergers and acquisitions, with drawings expected only when acquisition funding is required.
Valeura Energy (OTCQX:VLERF) reported a strong Q2 2026 operations and financial update. Working interest oil production averaged 22.3 mbbls/d, with sales of 2.454 million bbls at an average realised price of US$105.8/bbl, generating record revenue of US$259.8 million.
The company anticipates record quarterly free cash flow of about US$100 million, ended the quarter with US$316.5 million in cash, no debt, and a US$42.7 million receivable. Restricted cash fell 31% to US$15.8 million after a reduction in Manora field decommissioning security.
Valeura Energy (OTCQX:VLERF) completed an eight-well drilling campaign on the Nong Yao field in the Gulf of Thailand, including its first multi-lateral development well and a record 4,960' horizontal lateral.
According to Valeura, Nong Yao production rose from 8,870 bbls/d to about 10,500 bbls/d.