Exploration & Production | Operational Updates
Valeura Drills Horizontally in Mezardere Formation
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Valeura Energy Inc. has provided an operational update for the first quarter of 2014.
Net corporate petroleum and natural gas sales in the first quarter of 2014 averaged approximately 1,306 barrels of oil equivalent per day (boe/d), up 10% from the fourth quarter of 2013 reflecting the contribution from two new horizontal wells completed with multi-stage fracs, frac completions on two vertical wells drilled in 2013 and six shallow gas well recompletions in the Thrace Basin of Turkey. This is the third consecutive quarter of increasing net sales.
Net sales in Turkey in the first quarter of 2014 averaged 1,274 boe/d, including 7.6 million cubic feet per day (MMcf/d) of natural gas at an average wellhead price of $9.64 per thousand cubic feet (Mcf) and 7 barrels of oil per day.
Net sales in…
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