Valeura Energy has agreed to charter the Shelf Drilling Enterprise jack-up drilling rig for a three-year term that runs to 31 December 2029. Valeura has an option on the start date, and currently plans to commence drilling operations with the rig in Q4 2026, initially focused on delivering production acceleration projects.
Dr. Sean Guest, President and CEO commented:
'Three consecutive years of an approximately 200% reserves replacement ratio has materially transformed our asset base. With 57.8 mmbbls of proved plus probable reserves as of 31 December 2025, we see more opportunity and a larger inventory of drilling targets within our core Gulf of Thailand portfolio.
At the same time, we see a favourable pricing environment within the rig market, so we are moving decisively to capitalise on the opportunity before us by locking in the Enterprise rig for a term of three years.
Our business remains robust, even at the relatively low commodity prices we saw in late 2025. With that position now coupled with a robust balance sheet, we intend to pursue further development, appraisal, and exploration drilling across our portfolio with a programme of continual drilling through the end of 2029.'
The Enterprise is a premium jack-up drilling rig owned by Shelf Drilling (Southeast Asia) Limited, a subsidiary of ADES Holding Company, which is suitable for drilling operations anywhere in the offshore Gulf of Thailand.
Source: Valeura Energy
