Valeura Energy has significantly increased oil production at its Nong Yao C oil field development located offshore in the Gulf of Thailand. The Nong Yao complex is currently operating at full processing capacity, with a consistent average production of 13,400 barrels per day over the past week. Valeura aims to maintain production rates at around 11,000 barrels per day for the remainder of the year.
Valeura Energy Inc. commenced trading at C$5.39 per share. The company’s president and CEO, Sean Guest, expressed satisfaction with the stable production levels from six of the development wells, with plans to activate a seventh well in the near future to enhance production capacity.
Earlier this month, Valeura announced the commencement of production at the Nong Yao C development, marking a significant milestone for the company. Calgary-based Valeura Energy focuses on upstream oil and gas operations in the Gulf of Thailand and onshore Türkiye, with a strategic focus on sustainable growth in Southeast Asia.
The stock of Valeura Energy Inc. (TSX:VLE) opened trading 1.13% higher at C$5.39 and has shown an impressive 87.68% increase year to date. Investors interested in discussing the company’s performance can join the conversation on the Valeura Energy Bullboard and explore other active stock forums on Stockhouse.
It is important to note that the information provided in this article is for informational purposes only and should not be construed as investment advice. For full disclaimer information, please refer to the relevant disclosures.
