07:36 AM EDT, 05/28/2024 (MT Newswires) -- Valeura Energy Inc. ( VLERF ) , an upstream oil and gas company with assets in the Gulf of Thailand and the Thrace Basin of Turkiye, which rose 1.7% yesterday, announced earlier Tuesday the successful completion of an infill drilling campaign at Nong Yao A and the start of development drilling on the Nong Yao C extension, both part of the Nong Yao oil field (90% operated working interest), offshore Gulf of Thailand.

Sean Guest, President and CEO, in a statement said the results of its new Nong Yao A wells "further illustrate the potential of our assets to add volumes through ongoing infill drilling. 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 programme."

He added: "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."