VLE, CA9191444020

Valeura Energy stock: Q3 production beats expectations

Published on 11/12/2026 at 16:47 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Valeura Energy stock traded at 9.05 euros on Thursday as the company outlined further Thailand drilling. Diesel costs remain a constraint.

Thailand drilling and cost outlook

Q3 production exceeded Valeura Energy's expectations, despite a year-over-year decline.
Three new Nong Yao wells are planned for the fourth quarter.
Higher diesel prices pushed full-year adjusted opex guidance higher.

VLE, CA9191444020, Illustration mit AI erstellt.

Valeura Energy reported its unaudited third-quarter results on Wednesday, November 11, covering the three months ended September 30, 2026. The GlobeNewswire release added that quarterly production was above management's expectations and that Valeura Energy plans to drill three new wells at Nong Yao in the fourth quarter.

Production supports near-term execution

Working-interest production before royalties averaged 22,128 barrels per day, or 2.036 million barrels for the quarter, down 4 percent from a year earlier. Oil sales reached 2.013 million barrels, while the average realised price rose 35 percent to 97.4 US dollars per barrel.

Revenue increased 26 percent to 196.1 million US dollars. Adjusted EBITDAX rose 43 percent to 115.8 million US dollars, and adjusted cashflow from operations gained 27 percent to 93.6 million US dollars. Valeura ended September with 384.9 million US dollars of cash, including restricted cash, and no debt.

Thailand projects move into execution

The new Nong Yao well slots were completed in October, and the company said a drilling rig had been mobilised for three Q4 wells. At Wassana, the central processing platform was installed after early completion, with hook-up and commissioning under way. The existing facilities are scheduled for a production shutdown of about two months from mid-November while upgrades proceed.

Valeura also reported the Suraphi oil discovery on Block G1/48 and a final investment decision for the first phase of the Bussabong gas development on Block G3/65. Bussabong is expected to deliver first production around year-end 2028.

Higher diesel costs temper outlook

The company kept its 2026 production guidance at 20.0 million to 22.0 million barrels and its adjusted capex range at 220 million to 235 million US dollars. It raised adjusted opex guidance to 225 million to 235 million US dollars from 190 million to 220 million US dollars, citing higher diesel prices. Management still expects production to finish above the midpoint despite the Wassana shutdown.

Valeura Energy stock traded at 9.05 euros on Lang & Schwarz at 16:36 CET on Thursday, November 12, 2026.