Valeura currently produces oil and natural gas from relatively shallow conventional reservoirs on its lands in the Thrace Basin of Turkey. As of Q1 2019, the Company’s production was 4,488 Mcf/d natural gas and 20 bbl/d crude oil (total 768 boe/d). This production is transported and treated by Valeura’s owned infrastructure and sold to local customers, generating an ongoing stream of cash flow.
Valeura’s crude oil and natural gas reserves were independently evaluated as at December 31, 2018 by DeGolyer and MacNaughton. Total Proved Plus Probable (2P) reserves were 7,350 Mboe, with an NPV of US$87.5 million.