Valeura Energy reports its unaudited financial and operating results for the three and nine month periods ended 30 September 2026.
The complete quarterly reporting package for the Company, including the unaudited financial statements (the 'Interim Financial Statements') and associated management’s discussion and analysis ('MD&A') are being filed on SEDAR+ at www.sedarplus.ca and posted the Company’s website at www.valeuraenergy.com.
Q3 Highlights
- Oil production of 2.036 million bbls, averaging 22,128 bbls/d(1);
- Oil sales of 2.013 million bbls;
- Price realisations averaged US$97.4/bbl, resulting in revenue of US$196.1 million;
- Adjusted EBITDAX of US$115.8 million(2) and adjusted cashflow from operations of US$93.6 million(2);
- Net cash of US$384.9 million(3), with no debt.
- Exploration discovery on Block G1/48(4) – the Suraphi oil field;
- Final investment decision (“FID”) on the first phase of development of the Bussabong gas field, on Block G3/65(5); and
- Milestone cumulative production of 100 million bbls of oil from the Jasmine/Ban Yen field on Block B5/27(6) as of 21 September 2026.
Recent Achievements
- Early completion and installation of the new Wassana central processing platform ("CPP") on Block G10/48(6).
- Working interest share production, before royalties.
- Non-IFRS financial measure or non-IFRS ratio – see “Non-IFRS Financial Measures and Ratios” section.
- Includes restricted cash of US$15.8 million.
- 70% operated working interest.
- 40% non-operated working interest.
- 100% operated interest.
Dr. Sean Guest, President and CEO commented:
'Across the entire spectrum including exploration, development, and production, our performance in Q3 2026 provides strong examples of how we are delivering value for our stakeholders. We are firing on all cylinders.
Our exploration discovery at Suraphi creates a line of sight to a longer life for the G1/48 Block by unlocking both new and stranded oil accumulations in the vicinity. Our Wassana redevelopment project demonstrates our ability to execute high value offshore developments efficiently, underscored by our two-month acceleration of the CPP installation. Our FID of the first phase of development at the Bussabong field lays a framework for us to diversify our portfolio and to build materiality from gas development over time. All of this was delivered safely, and while recording high-margin oil production exactly in line with our plan.
From a financial perspective, our Q3 performance illustrates how our portfolio is pre-disposed to turning high oil prices into a formidable stream of cash flow. As a result, by the end of Q3 our balance sheet had grown to US$385 million in cash, with no debt. This position, together with our undrawn credit facility, provides the wherewithal for us to pursue our inorganic growth ambitions in Thailand and elsewhere in the region. We are excited by the opportunity set before us and see the potential for Valeura to deliver transformational growth.'
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Source: Valeura Energy
