Valeura Energy
Valeura Energy is a Canadian independent upstream oil and gas producer operating offshore fields in the Gulf of Thailand and gas assets in Türkiye's Thrace Basin, selling crude to the Thai domestic market and gas into Türkiye.
- Company typePublic
- Founded2010
- HeadquartersCalgary, Canada
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Valeura Energy does
Valeura Energy is a Canadian-incorporated, Calgary-headquartered independent upstream oil and gas exploration and production company listed on the Toronto Stock Exchange (TSX:VLE). The company's core operations are concentrated in the Gulf of Thailand, where it holds operated working interests in the Nong Yao (90%, block G11/48), Wassana, Manora, and Jasmine fields, supplemented by natural gas exploration assets in the Thrace Basin of northwest Türkiye through a joint venture with Transatlantic Petroleum LLC. Crude oil production averaged approximately 22,326 bbls/d in Q1 2026, with full-year 2026 guidance of ~21,000 bbls/d; crude is sold into the Thai domestic market at prices linked to the Brent benchmark, while gas is sold domestically in Türkiye.
The company's technical differentiators are drilling-driven: it has set a Gulf of Thailand record for the longest horizontal lateral at 4,960 feet and drilled Thailand's first-ever multi-lateral development well accessing two reservoir intervals from a single slot. Operations are supported by owned and chartered infrastructure including the Manora Princess floating storage and offloading vessel and a three-year charter of the Shelf Drilling Enterprise jack-up rig through December 2029. Valeura reported record 2P reserves of 57.8 mmbbls at year-end 2025 with a reserves life index of 7.5 years and approximately 200% reserves replacement for three consecutive years. The October 2025 farm-in with PTTEP expanded gross offshore acreage from 2,623 to 22,757 square kilometers and added 15 confirmed discoveries.
The business model is a commodity producer model: revenue is generated through one-time sales of crude oil (predominantly) and natural gas at market prices tied to Brent for oil and market conditions for gas, with no tiered pricing or subscription revenue. Customers are not individually disclosed — output flows into the Thai domestic energy market, where the government restricts refined fuel exports and has requested domestic producers prioritize local supply, and into the Turkish domestic market via the Transatlantic joint venture. Full-year 2025 revenue was approximately US$612.47 million, with Q1 2026 revenue of US$92.3 million reflecting lower realized pricing (US$66.2/bbl vs Brent-driven April 2026 record of US$110.4/bbl). The company raised C$10 million in a February 2023 bought deal but is now debt-free with US$261.6 million in net cash as of March 31, 2026, and has an active NCIB for share repurchases.
Valeura Energy firmographics
Firmographics- Name
- Valeura Energy
- Legal name
- Valeura Energy Inc.
- Website
- https://valeuraenergy.com
- Company type
- Public
- Founded year
- 2010
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Valeura Energy is a Canadian independent upstream oil and gas producer operating offshore fields in the Gulf of Thailand and gas assets in Türkiye's Thrace Basin, selling crude to the Thai domestic market and gas into Türkiye.
- Ownership category
- akta.pro rank
Valeura Energy industry classification
Industry- Product category
- Upstream Oil and Gas Exploration & Production
- NAICS
- Oil and Gas Extraction (211), Crude Petroleum Extraction (21112), Natural Gas Extraction (21113)
- SIC
- Crude Petroleum & Natural Gas (1311), Oil & Gas Field Exploration Services (1382)
- akta.pro primary industry
- Sour Gas / High-CO₂ Gas E&P (Acid Gas Fields) (EUAAAAAE)
- akta.pro secondary industries
- Blending, Additization & Terminal Operations (In-Terminal Blending, Dyeing, Bio-blending) (EUALAEAJ), Gas Processing & NGL Recovery (Dehydration, Sweetening, Cryogenic Recovery) (EUALAGAG)
Keywords
Where Valeura Energy is headquartered
LocationHeadquarters
- HQ city
- Calgary
- HQ country
- Canada
- HQ region
- North America
Offices2 records
Markets served
Valeura Energy business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Supply Chain, Infrastructure, Personnel, Technology or R&D, Marketing or Sales
Revenue model
- Crude Oil Production and Sales: Valeura Energy generates revenue primarily through the sale of crude oil produced from its offshore fields in Thailand (Nong Yao, Wassana, Manora, Jasmine) and Turkey. Oil is sold domestically in Thailand with pricing tied to Brent crude benchmark. Q1 2026 sales of 1.394 million bbls at US$66.2/bbl generating US$92.3 million in revenue. April 2026 set a record with 0.82 mmbbls oil sales at US$110.4/bbl generating US$90.3 million revenue.
- Natural Gas Production and Sales: The company also produces natural gas from its Thrace Basin gas fields in Turkey, with operations focused on exploration and production of hydrocarbons in both countries.
- Equity Financing / Bought Deal: The company raises equity capital through bought deal financing on the Toronto Stock Exchange, issuing common shares to fund operations, drilling programs, and acquisitions. In February 2023, raised approximately C$10 million through private placement of 3,937,000 shares at C$2.54 per share.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels3 records
Valeura Energy product offering
Product offeringCore offering
Valeura Energy is an independent upstream oil and gas company engaged in the exploration, development, and production of crude oil and natural gas. It operates and holds interests in offshore oil fields in the Gulf of Thailand (Wassana, Nong Yao, Manora, Jasmine) and gas assets in the Thrace Basin of northwest Turkey via a joint venture with Transatlantic Petroleum. The company's primary commercial product is crude oil produced from Gulf of Thailand platforms, sold at Brent-linked pricing primarily into the Thai domestic market, with supplementary natural gas sales into the Turkish market.
Product overview
Valeura Energy is an independent oil and gas exploration and production company operating primarily in Thailand and Turkey. The company operates a portfolio of offshore oil fields in the Gulf of Thailand including the Wassana, Nong Yao, Manora, and Jasmine fields, as well as gas assets in the Thrace Basin in Turkey. Operations include drilling programmes, infill development, and production activities supported by floating storage vessels and contracted drilling rigs. The company focuses on oil production with average output around 22,000+ barrels per day.
Differentiator
Problem solved
Functional benefit
Products and services
- Crude Oil Production (Gulf of Thailand) Brent-linked crude oil produced from offshore Gulf of Thailand platforms (Wassana, Nong Yao, Manora, Jasmine), sold to buyers primarily in the Thai domestic market to support national energy security. Q1 2026 production averaged approximately 22,326 bbls/d.
- Natural Gas Production (Thrace Basin, Turkey) Natural gas produced and developed through a joint venture with Transatlantic Petroleum LLC in the Thrace Basin of northwest Turkey, sold into the Turkish domestic energy market and targeting deep gas zones.
Quantifiable outcome
- Increased Nong Yao field production from ~8,870 bbls/d to ~10,500 bbls/d following eight-well drilling campaign
- +3 more outcomes
Companies that use Valeura Energy
Customer profileSegments1 record
Ideal customer profiles2 records
Valeura Energy technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Valeura Energy partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core.
- Shelf Drilling (Southeast Asia) LimitedcoreValeura Energy chartered the Shelf Drilling Enterprise jack-up drilling rig for a three-year term ending December 31, 2029. Drilling operations are planned to commence in Q4 2026 in the Gulf of Thailand, focused on production acceleration. The charter was secured at what Valeura describes as favourable rig market pricing. The Enterprise rig is a 19-year-old jack-up rig owned by Shelf Drilling (Southeast Asia) Limited, a subsidiary of ADES Holding Company, suited for offshore operations throughout the Gulf of Thailand.
- Manora Princess (Floating Storage Vessel)coreValeura Energy purchased the Manora Princess floating storage and offloading (FSO) vessel for US$15.5 million. The vessel supports offshore storage and offloading operations for the company's Gulf of Thailand fields, enhancing operational infrastructure.
- PTTEP (PTT Exploration and Production Public Company Limited)coreValeura Energy signed a farm-in agreement with Thailand's state-backed PTTEP to acquire a 40% non-operating interest in offshore Blocks G1/65 and G3/65 in the Gulf of Thailand, pending Thai Ministry of Energy approval. The deal increased Valeura's gross offshore acreage in Thailand from 2,623 to 22,757 square kilometers, and includes 15 oil and gas discoveries confirmed by 27 wells. Valeura is paying $14.7 million in back costs plus funding part of additional seismic acquisition. PTTEP retains operatorship with a 60% stake, and the blocks contain prospects viewed as tie-back candidates to existing infrastructure for fast-track development.
- Transatlantic Petroleum LLCcoreValeura Energy announced a joint venture agreement with Transatlantic Petroleum LLC to explore and develop hydrocarbons in the Thrace basin of northwest Türkiye. The collaboration aims to test deep gas zones, with operations expected to begin in late 2025. The partnership leverages Valeura's existing holdings in the region and Transatlantic's operational expertise in the Turkish market.
Scale indicators9 records
Recent moves9 records
Expansion highlights6 records
Valeura Energy competitors and assessment
Company assessmentDirect peers
- PTTEP (PTT Exploration and Production): Thailand's state-backed upstream operator and 60% partner / operator of Blocks G1/65 and G3/65 in the Gulf of Thailand. PTTEP is the most directly comparable peer given it operates in the same Gulf of Thailand basins, holds the operatorship on Valeura's largest farm-in acreage, and sells into the same Thai domestic market.
- KrisEnergy: Singapore-headquartered, Gulf of Thailand-focused independent E&P that operated the B5/27 block (Jasmine) prior to Valeura's involvement. Closely aligned in regional footprint, asset base, and small-cap independent operating model.
- Pan Orient Energy: Canadian-listed, Thailand-focused upstream independent with onshore and offshore concessions, including Concession L53 in the Phetchabun Basin. Comparable as a small/mid-cap independent with Thai upstream exposure and similar capital-markets structure on the TSX.
- Transatlantic Petroleum: JV partner with Valeura in the Thrace Basin, Türkiye — operating shallow and deep gas interests in the same basin. Closely comparable given shared asset exposure and joint upstream gas operations in northwest Türkiye.
Emerging players
- Jadestone Energy: Asia-Pacific upstream independent with producing assets in Australia, Malaysia, and Vietnam. Comparable as a small/mid-cap E&P focused on Southeast Asia, with similar focus on acquiring and optimising mature offshore fields.
- Hibiscus Petroleum: Malaysia-listed upstream independent operating across Malaysia, UK, and Australia. Comparable as a Southeast Asia-focused, small-to-mid-cap E&P pursuing both organic development and M&A in mature offshore fields.
- Cooper Energy: Australia-listed upstream independent focused on gas-weighted production and exploration in the Cooper Basin and offshore Victoria. Comparable as a small independent E&P with similar production scale, capital-light posture, and balance-sheet-focused growth strategy.
Broad incumbents
- EnQuest: UK-listed upstream producer operating predominantly in the North Sea with interests elsewhere. Comparable as a small-to-mid-cap independent E&P focused on mature offshore field redevelopment with cost discipline in a Brent-priced oil business.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
Valeura Energy social profiles
Digital presenceValeura Energy financial estimates
Financial estimateRevenue estimate
Valuation estimate
Valeura Energy leadership team
Management profileNumber of profiles
Profiles2 records
Valeura Energy funding detail
Funding detailFunding overview
Funding rounds3 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Valeura Energy M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Valeura Energy
What does Valeura Energy do?
Valeura Energy is an independent upstream oil and gas company engaged in the exploration, development, and production of crude oil and natural gas. It operates and holds interests in offshore oil fields in the Gulf of Thailand (Wassana, Nong Yao, Manora, Jasmine) and gas assets in the Thrace Basin of northwest Turkey via a joint venture with Transatlantic Petroleum. The company's primary commercial product is crude oil produced from Gulf of Thailand platforms, sold at Brent-linked pricing primarily into the Thai domestic market, with supplementary natural gas sales into the Turkish market.
Is Valeura Energy a public or private company?
Valeura Energy is a public company. It is classified as public and is currently operating.
When was Valeura Energy founded?
Valeura Energy was founded in 2010. It employs 101 to 250 people.
Where is Valeura Energy based?
Valeura Energy is headquartered in Calgary, Canada, in the North America region.
How does Valeura Energy make money?
Three revenue lines are on record. Crude Oil Production and Sales are the primary driver. The others are natural Gas Production and Sales and equity Financing / Bought Deal.
Who are Valeura Energy's main competitors?
Direct peers on record are PTTEP (PTT Exploration and Production), KrisEnergy, Pan Orient Energy and Transatlantic Petroleum. Emerging players are Jadestone Energy, Hibiscus Petroleum and Cooper Energy. EnQuest is listed as a broad incumbent.
Does Valeura Energy have an API?
No public API is recorded for Valeura Energy.
What industry is Valeura Energy in?
Valeura Energy's product category is Upstream Oil and Gas Exploration & Production. Its primary akta.pro industry code is EUAAAAAE, Sour Gas / High-CO₂ Gas E&P (Acid Gas Fields), with a secondary code of EUALAEAJ, Blending, Additization & Terminal Operations (In-Terminal Blending, Dyeing, Bio-blending). Its NAICS code is 211 and its SIC code is 1311.