Valeura Energy Inc. Announces Third Quarter 2025 Results

Executive Summary

• Valeira reported unaudited Q3 2025 results showing oil production of 23.0 mbbl/d, revenue of US$155.7 M, adjusted EBITDAX of US$80.7 M and cash balance of US$248.4 M with no debt.
• Completed a ten‑well drilling campaign at block G11/48 (Nong Yao) raising production to 24.8 mbbl/d; announced a strategic farm‑in for blocks G1/65 & G3/65 expanding acreage from 2,623 km² to 22,757 km².
• Re‑affirmed full‑year 2025 guidance (average daily production 23.0–25.5 mbbl/d; adjusted opex US$215‑245 M; adjusted capex US$175‑196 M).

Key Details

• Production & Sales – Working‑interest share oil production averaged 22,976 bbl/d (23.0 mbbl/d); oil sales 2.16 MM bbls at an average realized price of US$72.1/bbl.
• Financial Performance – Revenue US$155.7 M (+20% YoY); Adjusted EBITDAX US$80.7 M (+29% YoY); Adjusted after‑tax cash flow from operations US$73.2 M (+46% YoY).
• Liquidity – Cash & cash equivalents US$248.4 M (incl. restricted cash US$23.8 M); net cash position unchanged; no debt outstanding.
• Operating Expenses – Total operating expenses US$49.1 M (+4% YoY); Adjusted opex US$52.5 M, down 4% YoY and 11% per barrel versus prior year.
• Capex – Q3 adjusted capex US$52.4 M, driven primarily by the Wassana field redevelopment project (new central processing platform).
• Drilling Campaigns – Ten‑well program at Nong Yao completed end of Q3; production rose from ~7,996 bbl/d pre‑drill to 11,562 bbl/d over the seven‑day period ending Sep 30.
• Field Updates – Jasmine/Ban Yen: 7,514 bbl/d (no new wells Q3); Nong Yao: 10,563 bbl/d; Wassana: 3,011 bbl/d (ongoing MOPU maintenance); Manora: 1,888 bbl/d.
• Strategic Farm‑in – Agreement with PTTEP subsidiary to earn 40% non‑operated interest in blocks G1/65 & G3/65; will fund back‑costs and conduct additional seismic; acreage increase to 22,757 km² pending Thai government approval.
• Joint Venture (Türkiye) – JV with Transatlantic to explore Thrace basin; re‑entry testing of Devepinar‑1 well commenced Oct 15 2025; further appraisal drilling planned Dec 2025.
• Guidance Reaffirmation – 2025 average daily production target unchanged at 23.0–25.5 mbbl/d; adjusted opex guidance now expected toward lower end of range; adjusted capex/exploration $175‑196 M (up from original).
• Webcast Announcement – Investor/analyst webcast scheduled for Mon Nov 17 2025 at 08:00 Calgary time.

Notable Quotes

“Our Q3 2025 results illustrate our ongoing focus on both top tier execution and setting up our business to drive value generation in the future… The net effect is a stronger balance sheet than ever before.” – Dr. Sean Guest, President & CEO