Valeura Energy Inc. Provides Update on Q3 2024 Operations
Highlights of Q3 2024
Calgary, AB / ACCESSWIRE / October 3, 2024 / Valeura Energy Inc. (TSX:VLE)(OTCQX:VLERF) (“Valeura” or the “Company”) is pleased to provide an update on Q3 2024 operations. The following are the highlights for Q3 2024:
– Oil production averaged 22.2 mbbls/d(1) for Q3 2024 and 26.4 mbbls/d during September 2024(1);
– Nong Yao C development was commissioned and put on production, resulting in a 66% increase in Nong Yao production(1,2);
– Production resumed at Wassana after confirming the safe operating condition of its production facility;
– Oil volumes sold of 1.8 million barrels with increased oil inventory at quarter end of 1.2 million bbls;
– Revenue of US$139 million with an average price realization of approximately US$79/bbl;
– Cash of US$156 million, after having paid US$30.1 million in petroleum taxes related to H1 2024;
– Valeura remains debt free; and
– Recognized as one of Canada’s Top Growing Companies by The Globe and Mail, ranking no. (data not provided).
Expanding on the Topic
Valeura Energy Inc. has demonstrated exceptional performance in Q3 2024, with significant increases in oil production and revenue. The successful commissioning of the Nong Yao C development and the resumption of production at Wassana are key milestones for the company. With a strong cash position and debt-free status, Valeura is well-positioned for future growth and success in the energy sector.
Impact on Me
As an investor, Valeura Energy Inc.’s strong performance in Q3 2024 is a positive sign of the company’s profitability and growth potential. The increased oil production and revenue figures reflect positively on the company’s financial health and may lead to higher returns for shareholders.
Impact on the World
Valeura Energy Inc.’s successful operations in Q3 2024 contribute to Canada’s energy sector and economy as a whole. The company’s achievement of being recognized as one of Canada’s Top Growing Companies further solidifies its position as a key player in the industry. Additionally, Valeura’s debt-free status and strong cash position indicate stability and sustainability in the global energy market.
Conclusion
In conclusion, Valeura Energy Inc.’s performance in Q3 2024 showcases its commitment to excellence and growth in the energy sector. With notable achievements in production, revenue, and recognition, the company is on a path to continued success and positive impact on investors and the global energy market.
