![]() “Upon completion of the acquisition, we will begin work to re-activate production from the Wassana oilfield. The team has direct history with the acquired assets, which I expect will help to ensure seamless continuity and ongoing stewardship of these important fields,” he added. “I am pleased to be working again in Southeast Asia and to add a regionally experienced leadership team with decades of experience in addition to a very capable local operating unit in Thailand. Sean Guest, president, and CEO of Valeura, commented that “the acquisition will rapidly transform Valeura into a significant licence holder and new oil producer in Thailand, and in doing so will establish a platform for our goal to acquire further high-value cash flowing assets in the region.” Liquidators testing market for KrisEnergy Asia assets Near-term cash flow from the developed Wassana oilfield re-activation, with anticipated rates of approximately 3,000 bbls/d (net), is expected starting in Q4 2022, added the company.Īn industry source that has followed the demise of KrisEnergy described the deal’s price tag as an “insult to those who believed and promoted that KrisEnergy’s value was nearly US$1 billion (Kris Energy’s stated group assets were US$886 million in 2016), as these two Thai assets were a large chunk of the company.” The deal covers the acquisition of working interests in two shallow water Gulf of Thailand licences: G10/48 licence (89% operated interest) presenting a near-term production reactivation opportunity of the Wassana oil field, and the G6/48 licence (43% operated interest) containing the undeveloped but fully appraised Rossukon oilfield, Valeura said Thursday. There will also be certain contingent payments of up to a further $7 million related to future development milestones, said Valeura Energy. ![]() Skip MenuĬanada’s Valeura Energy will buy two operated licences offshore Thailand from Singapore’s KrisEnergy, which was forced into liquidation last year, for a price of $3.1 million. Copy link A decentered black square over a white square. WhatsApp Messenger An icon of the Whatsapp messenger app logo. Facebook Messenger An icon of the Twitter app logo. Facebook Messenger An icon of the facebook messenger app logo. Loading Spinner An icon of a loading spinner. Success Tick Timeout An icon of a greyed out success tick. Information An icon of an information logo. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Video Camera An icon of a video camera shape. Previous An icon of an arrow pointing to the left. Notice An explanation mark centred inside a circle. Next An icon of an arrow pointing to the right. Hamburger Menu Icon An icon used to represent a collapsed menu. Search Icon A magnifying glass icon that is used to represent the function of searching. Magnifying Glass An icon of a magnifying glass. Comments An icon of a speech bubble, denoting user comments. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Breaking An icon of an exclamation mark on a circular background. Pause Icon A two-lined pause icon for stopping interactions. ![]() Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Is Public An icon of a human eye and eyelashes. Telephone An icon of a traditional telephone receiver. Profile An icon that resembles human head and shoulders. ![]() Linked In An icon of the Linked In "in" mark. Facebook An icon of the Facebook "f" mark. Caret An icon of a block arrow pointing to the right. Cancel An icon of a circle with a diagonal line across.
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