Valeura Energy Inc.: Q3 2025 Operations and Financial Update

Core Viewpoint - Valeura Energy Inc. reported strong operational performance in Q3 2025, highlighted by a successful ten-well drilling campaign at the Nong Yao field, leading to increased oil production and a solid financial position [4][6][9]. Production Update - Average working interest share oil production before royalties increased to 23.0 mbbls/d in Q3 2025, a 6.2% rise from Q2 2025, with rates reaching approximately 24.8 mbbls/d by the end of the quarter [8][9]. - Oil sales totaled 2.16 million bbls in Q3 2025, reflecting an 8.7% increase from Q2 2025, with an average realized price of US$72.06/bbl, a US$2.52/bbl premium over Brent [9][10]. Financial Position - The company reported a cash position of US$248.3 million with no debt, facilitating ongoing investments for growth [6][10]. - A net crude receivable of US$36.7 million is expected to be received in mid-October, reflecting the timing of payment [10]. Drilling Campaign - The ten-well drilling campaign at the Nong Yao field resulted in production increasing from approximately 7,996 bbls/d to 11,562 bbls/d over the seven-day period ending September 30, 2025 [11]. - The campaign was completed safely, on time, and on budget, with the drilling rig now mobilized to the Jasmine field for further development [22][23]. Future Projects - Progress is being made on the Wassana redevelopment project, targeting first oil in Q2 2027, aimed at increasing production and reducing unit costs [7][24]. - A strategic farm-in agreement in the Gulf of Thailand is anticipated to expedite development and gas production, formalizing a significant relationship with stakeholders [7][25].