Valeura Energy Inc.: Third Quarter 2025 Results

Core Viewpoint - Valeura Energy Inc. reported improved financial and operational results for Q3 2025 compared to the same period last year and Q2 2025, highlighting a focus on value generation and operational efficiency [4][12]. Financial Highlights - Oil production for Q3 2025 was 2.11 million barrels, an increase of 3% from Q3 2024 and 8% from Q2 2025 [10]. - Average daily oil production reached 22,976 barrels per day, up 7% from Q2 2025 and 3% from Q3 2024 [10]. - Oil sales totaled 2.16 million barrels, reflecting a 14% increase from Q2 2025 and a 22% increase from Q3 2024 [10]. - Revenue for Q3 2025 was $155.7 million, a 20% increase from Q2 2025 and a 12% increase from Q3 2024 [10][14]. - Adjusted EBITDAX was $80.7 million, up 29% from Q2 2025 and 14% from Q3 2024 [10]. - Adjusted cash flow from operations was $73.2 million, a 45% increase from Q3 2024 [10][16]. Operational Achievements - A successful ten-well drilling campaign at the Nong Yao field increased production to 10,563 barrels per day [23]. - The company is progressing on the Wassana field redevelopment project, with first oil expected in Q2 2027 [6][26]. - Valeura entered a farm-in agreement for blocks G1/65 and G3/65 in the Gulf of Thailand, significantly expanding its acreage [29][30]. - The company has a strong cash position of $248.4 million with no debt, and a working capital surplus of $275 million [8][19]. Future Outlook - Valeura anticipates achieving full-year average production within the lower end of its guidance range of 23.0 to 25.5 mbbls/d [36][38]. - The company expects adjusted opex to be within the lower part of its guidance range due to lower fuel costs [39][40]. - Plans for further drilling and development in the Gulf of Thailand and Türkiye are underway, with a focus on maximizing production and extending the economic life of its assets [9][33].