Valeura Energy Inc. (“Valeura” or the “Company”) is a Canada-based listed company engaged in the exploration, development and production of natural gas and condensate in Turkey.
Since Valeura was established in 2010, the Company has executed a number of commercial transactions, resulting in interests in 20 production leases and exploration licences in the Thrace basin of Turkey, just west of Istanbul. Valeura’s acreage covers approximately 0.456 million gross acres, which includes 0.374 million net acres of shallow rights and 0.256 million net acres of deep rights.
The Company produces natural gas from conventional shallow accumulations in the Thrace Basin, which is gathered and processed through its wholly-owned infrastructure network, and sold directly to end-use customers in the immediate vicinity.
As of year-end 2018, the Company’s total Proved Plus Probable Reserves were independently evaluated to be 7,350 Mboe, and in Q1 2019, the Company produced 768 boe/d.
Valeura partnered with Equinor Turkey B.V. (“Equinor”) to explore the potential of its deep rights under a farm-in arrangement on Valeura’s acreage. In 2017, Valeura drilled the Yamalik-1 exploration well, funded by Equinor, which discovered a world class unconventional gas play known as a Basin Centered Gas Accumulation. The companies are appraising the discovery with an extensive programme of studies, delineation drilling, reservoir stimulation, and flow testing.
Valeura’s shares are traded on the Toronto Stock Exchange (“TSX”) in Canada under the trading symbol VLE and on the London Stock Exchange (“LSE”) in the UK under the trading symbol VLU.