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Valeura Energy Inc. Announces Q4 2024 Ops & Financial Update, 2025 Guidance
CALGARY, AB / ACCESSWIRE / January 8, 2025 / Valeura Energy Inc. (TSX:VLE)(OTCQX:VLERF) ("Valeur...
About this update from Valeura Energy Inc.
[{"type":"text","content":"Valeura Energy Inc. Announces Q4 2024 Ops & Financial Update, 2025 GuidanceCALGARY, AB / ACCESSWIRE / January 8, 2025 / Valeura Energy Inc. (TSX:VLE)(OTCQX:VLERF) (\"Valeura\" or the \"Company\") is pleased to provide an operational and financial update for Q4 2024 and its guidance outlook for 2025.Q4 2024 Highlights· Record oil production, averaging 26,109 bbls/d in Q4 2024, resulting in full year average oil production of 22,825 bbls/d(1);· 2.95 million bbls of oil sold in Q4 2024, with 8.35 million bbls for the full year 2024;· Q4 average price realisations of US$76.7/bbl, resulting in Q4 revenue of US$226 million, or US$679 million for the full year 2024;· Cash at December 31, 2024 of US$259.4 million, and no debt;· Completion of an internal restructuring of the Company's Thailand subsidiary companies, giving rise to operating and tax efficiencies from November 5, 2024 onward;· Continued success in development and appraisal drilling including completion of a five well programme on the Jasmine asset;· Ongoing strong safety performance, with no lost time injuries in 2024;· Recorded a 17% reduction in greenhouse gas (\"GHG\") emissions intensity for the full year 2024, compared to the previous year; and· Repurchase of 348,400 shares in Q4 2024, following the commencement of the Company's normal course issuer bid (\"NCIB\") in mid-November 2024.2025 Guidance Highlights· Full year oil production of 23,000 - 25,500 bbls/d(1);· Capex of US$125 - 150 million;· Exploration Expense of approximately US$11 million; and· Adjusted Opex of US$215 - 245 million (of which US$33 million relates to leases)(2).(1) Working interest share production, before royalties.(2) Adjusted Opex is a non-IFRS financial measure which does not have a standardised meaning prescribed by IFRS. The most directly comparable financial measure to Adjusted Opex is operating expenses. The measure differs from operating expenses by including the leases that are associated with operations, such as bareboat contracts for key operating equipment including Floating Storage and Offloading vessels (\"FSOs\"), Floating Production, Storage and Offloading vessels (\"FPSOs\"), Mobile Offshore Production Units (\"MOPUs\"), and warehouses, and adjusting for non-cash items. Management uses Adjusted Opex to analyse cas...