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 2019, the Company’s total Proved Plus Probable Reserves were independently evaluated to be 7,936 Mboe, and in 2019, the Company produced an average of 660 boe/d.
In 2017, Valeura drilled the Yamalik-1 exploration well which discovered a world class unconventional gas play known as a Basin Centered Gas Accumulation. In conjunction with partners, in 2018 and 2019 Valeura drilled and stimulated two appraisal wells, Inanli-1 and Devepinar-1. All three deep wells were flow tested, and resulted in gas production to surface. The Company’s appraisal programme is ongoing.
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.