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Valeura Energy Inc. Announces Q1 2026 Operations Update
CALGARY, AB / ACCESS Newswire / April 9, 2026 / Valeura Energy Inc. (TSX:VLE)(OTCQX:VLERF) ("V...
About this update from Valeura Energy Inc.
[{"type":"text","content":"Valeura Energy Inc. Announces Q1 2026 Operations UpdateCALGARY, AB / ACCESS Newswire / April 9, 2026 / Valeura Energy Inc. (TSX:VLE)(OTCQX:VLERF) (\"Valeura\" or the \"Company\") provides an operations and financial update for Q1 2026.HighlightsOil production averaged 22.3 mbbls/d(1);Sales of 1.394 million bbls (all occurring during January and February 2026);Price realisations averaged US$66.2/bbl, resulting in revenue of US$92.3 million;Given lack of liftings in March, Company's crude oil inventory increased to 1.225 million bbls, more than half of which has been lifted and sold since 31 March 2026;Purchased the Manora Princess floating storage and offloading (\"FSO\") vessel for US$15.5 million; andCash position of US$261.6 million at 31 March 2026(2).(1) Working interest share production, before royalties.(2) Includes restricted cash.Dr. Sean Guest, President and CEO commented:\"During Q1 2026, we delivered oil production exactly in line with our plan for the quarter. Much of that production contributed to an increase in oil held in inventory, meaning sales are deferred into Q2 2026, for which we stand to benefit from stronger oil prices.We are capitalising on the opportunity to invest into our portfolio. In addition to ongoing drilling activity and our Wassana redevelopment project, we are pursuing options to accelerate various projects. Even after a heavy quarter of investing, the acquisition of the Manora Princess FSO, and revenue coming only from the first two months of the year, our balance sheet remains strong, with US$261.6 million in cash, and no debt as of 31 March 2026.\"Q1 2026 UpdateValeura's working interest share production before royalties was on plan for Q1 2026, averaging 22.3 mbbls/d. The Company sold a total of 1.394 million bbls of oil, with all liftings/sales occurring in January and February 2026. Realised prices averaged US$66.2/bbl, resulting in revenue of US$92.3 million.With no liftings during March 2026, the Company's inventory of crude oil held in its floating storage vessels increased to 1.225 million bbls at 31 March 2026 (vs. 0.620 million bbls at 31 December 2025). Three cargos totalling 0.678 million bbls were lifted in the first few days of April 2026 which will generate revenue based on current oil pricing.During Q1 2026, Valeura incurred capital spending in support ongoing drilling operati...