Calgary-based Valeura Energy Inc. has successfully completed an infill drilling campaign at Nong Yao A and the start of development drilling on the Nong Yao C extension offshore the Gulf of Thailand.
Nong Yao A and Nong Yao C are both part of the Nong Yao oil field, where Valeura owns a 90 percent operated working interest, the company said in a news release.
Valeura drilled two production-oriented horizontal wells at the Nong Yao A wellhead platform, which were both successful and have been brought online as producers.
The 37H well culminated in a horizontal section within the primary target H12.5 reservoir. Valeura said that the zone has been completed for production and is currently contributing approximately 500 barrels per day (bpd) of oil, based on performance over the past ten days. In addition, the well encountered 68 feet of net oil pay across eight separate appraisal target intervals. The zones will now be further evaluated as targets for potential future development wells, and once developed, may add further producible volumes to the asset, Valeura said.
Further, the 38H well has been completed as a horizontal producer in the H4.3 reservoir interval and is currently contributing approximately 1,000 bpd of oil(1), based on performance over the past five days, the company said. A thin oil-bearing sand was encountered in the shallower H2.0 sand interval and will also be studied to determine additional producible volumes, it added.
Meanwhile, the company moved its contracted drilling rig to the Nong Yao C mobile offshore production unit where it has begun batch drilling operations to develop the Nong Yao C field extension. The drilling campaign is anticipated to take approximately four months and will comprise up to nine gross wells, consisting of six producer wells and up to three water injectors.
Valeura anticipates first oil from the Nong Yao C development in the third quarter. It is targeting aggregate peak oil production rates from the expanded Nong Yao field of 11,000 bpd, an approximately 50 percent increase over the 7,307 bpd reported in the first quarter.
“I am pleased with the results of our new Nong Yao A wells, which further illustrate the potential of our assets to add volumes through ongoing infill drilling,” Valuera President and CEO Sean Guest said. “Drilling these wells now was a nimble move by our team to shore up production rates just before dedicating our rig to the Nong Yao C development drilling program”.
“The start of drilling operations at our brand new Nong Yao C infrastructure marks a significant milestone for our company. This will be the first new development for Valeura in Thailand, and is expected to serve as a substantial source of production growth in the second half of this year,” Guest continued.
“We remain focused on safe and sustainable growth, and I am pleased to note that our drilling operations have achieved an important safety record, logging one full year of work without a lost time injury. We remain committed to delivering a top tier health, safety, and environmental performance across all our operations,” he concluded.
Valeura Energy Inc. is a Canadian upstream company engaged in the exploration, development and production of petroleum and natural gas in Thailand and in Türkiye. It has assets in the Gulf of Thailand and the Thrace Basin.
The company said it is pursuing a growth-oriented strategy and intends to re-invest into its producing asset portfolio and to deploy resources toward further organic and inorganic growth in Southeast Asia.
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