Canada’s Valeura eyes fresh deals after Thai expansion

The company is also working to sustain output from its Thai-focused portfolio into the 2030s

“Last year was all about closing the Mubadala and KrisEnergy deals,” paying off debt and “bringing three companies together”, explained Sean Guest, CEO of Toronto-listed Valeura. The Canadian company acquired bankrupt Singaporean firm KrisEnergy’s Thai assets, as well as the Thai portfolio of the local subsidiary of the UAE’s Mubadala Energy, in a pair of deals that has refocused the company on Southeast Asia and greatly increased its production. Integration of the acquired assets is now complete, stated Guest. As a result, Valeura now has four fields—Wassana, Manora, Jasmine and Nong Yao—in Thai waters. But upon acquisition, their respective reserve life indices were “a concern among the in