Re: VLE update
Valeura Energy produces 646 boe/d in Q4
2020-01-15 06:08 ET - News Release
Mr. Sean Guest reports
VALEURA ENERGY TRADING UPDATE
Valeura Energy Inc. has provided a trading update for the year ended Dec. 31, 2019. This is in advance of the company's full financial and operating results due to be announced on March 12, 2020.
As of Dec. 31, 2019, the company was in a strong financial position, with a net working capital surplus of approximately $37-million (U.S.) ($48-million).
Fourth quarter 2019 production averaged 646 barrels of oil equivalent per day, comprising gas produced from the company's continuing conventional program. This is an increase of 22 per cent over the prior quarter, and a demonstration of how the company's shallow gas work program of well workovers and recompletions can offset natural declines.