Valeura Energy Completes Drilling Campaign on Nong Yao Field in Offshore Thailand
Valeura Energy (VLE.TO) has completed an eight-well drilling campaign on the Nong Yao field in the offshore Gulf of Thailand, its largest producing asset.The drilling campaign further increases production from the field, the oil and gas exploration and production, company said Friday.Valeura drilled eight new wellbores, composed of one appraisal well and seven horizontal development wells. All wells encountered their targets successfully.Prior to this campaign, production rates at Nong Yao averaged 8,870 barrels per day in the seven-day period ending April 4, but they have since risen to rates of about 10,500 bbls/d in the seven-day period ending June 16.The drilling campaign also includes Valeura's first-ever successful multi-lateral well and the first with this level of complexity in Thailand, the company said. It company noted it sees potential for multi-lateral drilling across its portfolio, and is exploring its forward drilling schedule to find "suitable candidates" on its other Gulf of Thailand fields.
