Valeura Energy Inc has completed a 10-well infill drilling campaign at the Nong Yao oilfield in the Gulf of Thailand, increasing the company’s net production before royalties to 24,800 barrels per day (bpd) in the last seven days of the third quarter.
“The campaign was primarily production-oriented and resulted in the company’s working interest share oil production before royalties from the Nong Yao field increasing from approximately 7,996 bpd prior to the first new wells coming on stream, to a recent rate of 11,562 bpd, over the seven-day period ending September 30, 2025”, Canada’s Valeura said in an operations update on its website.
“The company anticipates that the reservoirs encountered may add to the ultimate production potential of the Nong Yao field and can thereby further extend its economic life”.
The campaign involved all three wellhead infrastructure facilities in Nong Yao, Valeura said.
The Nong Yao B segment of the campaign “included some of the most technically challenging wells ever drilled in the Gulf of Thailand basin, influenced by both geological complexity and also their extended reach from the wellhead platform, in one instance measuring a total drilled length of over 9,800′”, Valeura noted.
Valeura operates Nong Yao with a 90 percent stake through License G11/48, in which Palang Sophon Co Ltd owns the remaining 10 percent.
Nong Yao held proven and probable gross pre-royalties reserves of 16.9 million as of yearend 2024, according to Valuera. The field produces medium sweet crude from Miocene-age reservoirs, according to the company.
Elsewhere in the Gulf of Thailand, work is progressing on the Wassana oilfield redevelopment project. Wassana’s newbuild wellhead production facility is on track to start up in the second quarter of 2027, Valeura added.
“The Wassana redevelopment project is intended to increase production, reduce unit costs and create a hub for eventual tie-in of potential additional satellite wellhead platforms”, it said.
Valeura owns 100 percent of the block containing Wassana, G10/48.
On July 25 Valeura also announced an agreement with state-owned PTT Exploration and Production Public Co Ltd (PTTEP) to acquire 40 percent in blocks G1/65 and G3/65 in the Gulf of Thailand. PTTEP would remain as operator with a 60 percent interest.
“With gas accumulations already discovered on both the blocks, and within close proximity to infrastructure, we anticipate moving rapidly toward development and gas production”, Valeura president and chief executive Sean Guest said in the operations update.
Valeura said, “Production operations are continuing safely on Valeura’s four Gulf of Thailand fields, with no lost time injuries”.
Production across its portfolio, which also includes Thai blocks B5/27 and G1/48, averaged 23,000 bpd in the July-September quarter.
Oil sales totaled 2.16 million barrels in the third quarter, up 8.7 percent from the prior three months.
“In addition, the company had a total of 0.88 million barrels of oil inventory at September 30, 2025, ready for sale”, Valeura reported.
“Price realizations averaged $72.06/barrel during Q3 2025, a $2.52/barrel premium over the weighted average Brent crude oil benchmark.
“Valeura’s cash position at September 30, 2025, was $248.3 million (with no debt), an increase from the previous quarter end.
“In addition, cash from three liftings in September, amounting to $36.7 million net to the company, is expected to be received in mid-October”.
Valeura said it plans to release its full operating and financial results for the third quarter on November 14.
Source: By Jov Onsat from Rigzone.com