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Msg  8298 of 8353  at  1/15/2020 9:25:58 AM  by

theactivist


 In response to msg 8297 by  b9man
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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.

Balance sheet

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).

Production

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.


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