• The external reserves auditor has converted most of Valeura’s 2C resources at Wassana into 2P reserves. As a result, WI 2P reserves have been increased 63% to ~6.5 mmbbl.
• The development of the additional reserves is expected to require a 10 further wells (US$6 mm per well gross) from late 2024. This could boost WI production to ~6 mmbbl/d during 2025. We previously assumed peak production of only 5 mbbl/d in 3Q23, then declining rapidly.
• The reserves auditor has also assumed a differentia ....
13 Jun 2022
Valeura Energy (TSX: VLE): Large reserves increase in Thailand
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Valeura Energy (TSX: VLE): Large reserves increase in Thailand
• The external reserves auditor has converted most of Valeura’s 2C resources at Wassana into 2P reserves. As a result, WI 2P reserves have been increased 63% to ~6.5 mmbbl.
• The development of the additional reserves is expected to require a 10 further wells (US$6 mm per well gross) from late 2024. This could boost WI production to ~6 mmbbl/d during 2025. We previously assumed peak production of only 5 mbbl/d in 3Q23, then declining rapidly.
• The reserves auditor has also assumed a differentia ....