Valeura currently produces oil and natural gas from relatively shallow conventional reservoirs on its lands in the Thrace Basin of Turkey. Net petroleum and natural gas sales in 2019 averaged 660 boe/d.
Valeura’s crude oil and natural gas reserves were independently evaluated as at December 31, 2019 by DeGolyer and MacNaughton. Total Proved Plus Probable (2P) reserves were 7,936 Mboe. More information on Valeura’s reserves is available in the Company’s press release dated March 13, 2020, announcing year-end 2019 results, including the “Reader Advisories” therein.
In October 2020, the Company agreed to monetise its conventional gas production business, comprising all production and substantially all reserves, effective July 1, 2020. The transaction is expected to close in Q1 2021.