Valeura Energy Inc Stock Price, News & Analysis

Valeura Energy (OTCQX:VLERF) has entered into a strategic Farm-in Agreement with PTTEP to acquire a 40% interest in Blocks G1/65 and G3/65 in the offshore Gulf of Thailand. The deal significantly expands Valeura's gross acreage position from 2,623 km² to 22,757 km².

The agreement includes 15 oil and gas discoveries supported by 27 wells. To earn its interest, Valeura will pay 40% of actual back costs (US$14.7 million) through June 30, 2025, and carry PTTEP on additional seismic acquisition capped at US$3.7 million. The blocks are governed by PSCs with a 10% royalty to Thailand's government, 50% cost recovery cap, and 50/50 profit sharing.

The deal provides immediate activity with exploration and appraisal work, including recently completed four-well drilling program and planned 3D seismic acquisition of over 1,200 km².

Valeura Energy (OTCQX:VLERF) has released its Q2 2025 operations update, reporting average oil production of 21.4 mbbls/d and revenue of US$129.3 million. The company maintains its full-year production guidance of 23.0-25.5 mbbls/d despite a 10.2% quarter-over-quarter production decrease.

Key financial metrics include a strong cash position of US$241.9 million with no debt, and tax payments of US$15.8 million primarily for the Jasmine asset. Oil price realizations averaged US$67.95/bbl, representing a US$0.67/bbl premium over Brent crude benchmark.

Operationally, Valeura has commenced a drilling campaign at Block G11/48 (Nong Yao) and made a final investment decision on the Wassana field redevelopment, with first production targeted for Q2 2027.

Valeura Energy (VLERF) has completed an eight-well drilling campaign at Block B5/27 in the Gulf of Thailand, where it holds 100% operated working interest. The campaign included successful wells at Jasmine C (2 wells), Ban Yen A (3 wells), and Jasmine D (2 wells) platforms. Most wells exceeded management's expectations for oil pay and are now producing. Notable successes include Well C-30ST1H with innovative completion design and BYA-35ST1 with double the expected oil pay. However, the Ratree exploration well was unsuccessful, finding only trace hydrocarbons. The program was completed safely, on time, and under budget, maintaining Q1 production rates. The drilling rig is now moving to Nong Yao field for a 10-well development program.

Valeura Energy Inc. (TSX:VLE)(OTCQX:VLERF), an upstream oil and gas company operating in the Gulf of Thailand and Thrace Basin of Türkiye, has announced the voting results from its annual general meeting held on May 14, 2025. Shareholders approved the appointment of Deloitte & Touche LLP (Singapore) as auditors and elected eight directors to the board.

The voting results showed strong support for most directors, with Dr. W. Sean Guest and Timothy N. Chapman receiving nearly unanimous approval at 100%. However, two directors received notable opposition: James D. McFarland with 28.48% votes withheld, and Chalermchai Mahagitsiri with 21.65% votes withheld. The remaining directors all received over 99% approval.

Valeura Energy (TSX:VLE, OTCQX:VLERF) has reported that all its personnel are safe and accounted for following a strong earthquake that struck central Myanmar on March 28, 2025, at approximately 13:30 local time. The earthquake, which occurred approximately 1,000 km from Bangkok, Thailand, caused damage to certain buildings in Thailand.

The company confirmed that all its facilities in the offshore Gulf of Thailand continue to operate safely with no immediate indications of damage from the seismic event.

Valeura Energy Inc. (VLERF) reported outstanding financial and operational results for 2024, with significant growth across key metrics. Production increased 12% year-over-year to 22,825 bbls/d, driven by successful drilling operations and the Nong Yao C Field development.

Financial highlights include revenue of US$679 million, with average price realization of US$81/bbl, and Adjusted EBITDAX of US$378 million. The company ended the year with a strong cash position of US$259 million and zero debt.

Notable achievements include record-high year-end reserves with 32 MMbbl proved (1P), 50 MMbbl proved plus probable (2P), and a 245% reserves replacement ratio. The company's 2P net asset value increased to US$1,012 million, equivalent to C$13.6 per share. Environmental performance improved with a 20% reduction in greenhouse emissions intensity compared to 2023.

Q4 2024 performance was particularly strong, with production averaging 26,109 bbls/d, a 36% increase from Q4 2023, and revenue of US$226.1 million, up 33% year-over-year. Operating efficiency improved with Q4 2024 Adjusted Opex decreasing to US$22.8/bbl from US$29.4/bbl in Q4 2023.

Valeura Energy (TSX:VLE, OTCQX:VLERF) has successfully completed an infill drilling campaign at the Manora field in Licence G1/48, where it holds a 70% operated working interest. The campaign included five wells: three production-oriented infill development wells (A34, A38, A36) and two appraisal wells (A35, A37).

The company's working interest share of oil production before royalties at Manora has increased from 2,144 bbls/d (December 2024 average) to 2,866 bbls/d over the last 14-day period. The appraisal wells have identified between three and five potential future drilling targets.

Notable developments include:

• A34 well: Completed as a multi-zone comingled producer in deep 600-series sands
• A38 well: Horizontal well with innovative downhole autonomous inflow control device
• A36 well: Multi-zone infill development well
• A35 well: Successful appraisal indicating potential for three future development wells
• A37 well: Combination appraisal and development well

Valeura Energy Inc. (VLERF) announced record-high year-end 2024 reserves with 32 MMbbl proved (1P), 50 MMbbl proved plus probable (2P), and 60 MMbbl proved plus probable plus possible (3P) reserves. The company achieved a 2P reserves replacement ratio of 245% despite a 12% increase in annual production.

The company's 2P reserves net present value before tax reached US$934 million and US$752 million after tax. With a year-end 2024 cash position of US$259 million, the company's net asset value (NAV) stands at US$1,012 million, equivalent to C$13.6 per common share.

Contingent resources doubled to 48 MMbbl compared to end-2023. The company significantly reduced decommissioning costs through engineering studies and extended end of field life beyond 2030. All Thailand fields showed increased 2P reserves and extended field life.

Valeura Energy reported strong Q4 2024 performance with record oil production averaging 26,109 bbls/d, leading to full-year production of 22,825 bbls/d. Q4 oil sales reached 2.95 million bbls, generating revenue of US$226 million with average price realizations of US$76.7/bbl. Full-year 2024 revenue totaled US$679 million.

The company ended 2024 with a robust cash position of US$259.4 million and no debt. For 2025, Valeura projects oil production of 23,000-25,500 bbls/d, with planned capital expenditure of US$125-150 million and exploration expenses of US$11 million.

Key operational achievements include completion of a five-well program at Jasmine asset, successful corporate restructuring for tax efficiencies, and a 17% reduction in greenhouse gas emissions intensity. The company continues its share buyback program, having repurchased 348,400 shares in Q4 2024.