Valeura hit by market turbulence
The Turkish shale gas developer sees its appraisal programme results cause ripples amid nervous oil and gas investor sentiment
Turkey-focused Canadian independent Valeura Energy has had a busy second half of 2019, announcing the results of no less than five production tests on its unconventional gas assets in the Thrace basin. Unsurprisingly, investors have closely scrutinised the results. A majority of the tests—four at the Inali-1 well and a fifth at Devepinar-1—were positive. The exception was the fourth Inanli-1 result, which was more disappointing. Yet it was this latter set of findings that had a substantial impact on the share price. This begs the question of whether, in an environment where ESG and energy transition issues are racing up the investment agenda, oil and gas investors’ antennae are more sensitiv
Also in this section
26 April 2024
Slowing demand growth and capacity expansions will squeeze refiners in coming years
25 April 2024
Some companies with assets in Israel have turned towards Egypt as tensions escalate, but others are holding firm despite rising tensions
24 April 2024
But even planned exploration activity is unlikely to reverse declining output from mature fields
23 April 2024
Cheaper Russian barrels and lower overall crude prices have helped cut key oil consumer’s import bills in election year