In October 2020, Valeura agreed to sell its conventional gas business, including all production, substantially all reserves, and all infrastructure assets effective July 1, 2020. The transaction closed in Q2 2021.
There is an extensive natural gas gathering grid and associated sales lines in the immediate vicinity of Valeura’s assets, as shown in the image.
Following the Company’s sale of its conventional gas producing business, which closed in Q2 2021, the Company has no direct equity interest in these infrastructure assets. However, under agreement with the purchaser of the conventional gas production business, Valeura has retained access to local gas markets via the existing gas transportation infrastructure, for use in testing future deep tight gas appraisal wells.