Valeura Energy posted record adjusted cash flow from operations of $154 million in the second quarter of 2026, driven by revenue of approximately $260 million—more than double the prior quarter—and a realized oil price of $106 per barrel broadly in line with Brent. Sales volumes reached 2.45 million barrels, exceeding production due to an inventory drawdown, while free cash flow came in at $105 million and the cash position rose to $317 million from $262 million at the start of the quarter. Capital expenditures totaled $54 million, including $17 million for the Wassana redevelopment, which is ahead of schedule and under budget with mechanical completion accelerated to October 1st, potentially bringing first oil two months early. The company also secured a new high-spec jackup drilling rig at a 30% reduction in day rate for a three-year term and executed a farm-in agreement with PTTP for the G1 and G3 blocks, with a final investment decision on a two-platform gas development expected soon. Management indicated no near-term shareholder returns as it prioritizes M&A opportunities in Thailand and Asia, while remaining unhedged to retain upside exposure to oil prices.
Record adjusted cash flow and free cash flow, strong balance sheet, and cost reductions
