Newsletter 
  INSCRIPTION Inscription | ESPACE ANNONCEURS Publicité | CONTACT Contact |PLAN DU SITE Plan


Europétrole, le portail de l'industrie du pétrole
 
 accueil | actualité française | actualité internationale | recherche | interviews | focus | actualité par entreprise | actualité pétrole/gaz de schiste 
Partager :

  • Valeura Energy : Agreement to sell shallow conventional assets for up to US18$ Million
    édité le 20/10/2020 - Plus de news de "Valeura Energy" - Voir la fiche entreprise de "Valeura Energy"


Valeura Energy : Agreement to sell shallow conventional assets for up to US18$ Million
Valeura Energy Inc., an upstream natural gas company with assets in the Thrace Basin of Turkey, is pleased to announce that it has executed a Share Purchase Agreement (the “Agreement”) to sell its producing shallow conventional gas business to TBNG Limited (the “Buyer”) for a cash consideration of US$15.5 million, plus royalty payments of up to an additional US$2.5 million.

Proceeds from the deal will add to Valeura’s strong net cash position, which as of September 30, 2020 was approximately US$31 million. Upon completion of this transaction, the incremental cash will bolster the Company’s ability to execute its growth strategy through mergers and acquisitions and further appraisal of its deep gas play. This value-driven M&A strategy aims to add near-term/mid-term production growth and cash flow by focusing on cash flow-generating opportunities, with follow-on growth potential. Valeura remains debt free and in a strong position to negotiate future opportunities.

The Company’s interest in its 20 Tcfe unrisked mean prospective resource deep, tight gas play in the Thrace Basin will be unaffected by this transaction, and Valeura will remain the operator of record for all subject leases and licences. Valeura will also retain access to local gas markets via the existing gas transportation and processing infrastructure under the Agreement, for use in its ongoing deep gas appraisal activities.

Sean Guest, President and CEO commented:

“I am pleased to announce the pending sale of our mature, conventional gas business as a way to strengthen our balance sheet and increase our cash to pursue higher-value growth opportunities. Our objective has been to maximise the value of these mature assets, and today’s monetisation agreement is a key step towards accomplishing that goal. We have re-tooled Valeura into a lean, shrewd, debt-free machine, focused on value growth. To that end, the other pillars of our strategy remain unchanged. We are pursuing near/mid-term opportunities through the mergers and acquisition market intended to add significant growth potential and at the same time, we are continuing in our commitment to Turkey, as we appraise our 20 Tcfe unrisked mean prospective resource deep tight gas play. In all instances, our priority is to add cash-flow generation to the portfolio, along with opportunities for smart re-investment to generate incremental value for shareholders.”

About Valeura Energy

Valeura Energy Inc. (TSX:VLE, LSE:VLU) is a Canada-based public company currently engaged in the exploration, development and production of petroleum and natural gas in Turkey.


Origine : Communiqué Valeura Energy

Voir la fiche entreprise de "Valeura Energy"



Les dernières news de "Valeura Energy"

 
 
 
Emploi-Pétrole
 
Rechercher une news



française internationale








 
Les dernières news internationales


>> Toute l'actualité internationale     >> RSS
 
Recherche de news par tags

abu-dhabi adnoc aker-bp aker-solutions algeria algerie algerie alstom amec anadarko angola apache australia axens azerbaijan baker-hughes barents-sea bechtel bg-group bp brazil canada carburant cbi cgg chevron china chiyoda cnooc cnpc co2 commission-europeenne compressor conocophillips consommation cpdp deepwater discovery drilling e-on edf egypt emerson engie engineering eni equinor exxonmobil feed flng flowline fluor fluxys fmc foster-wheeler fpso fsru fugro gabon gas gaz gazprom gazprom-neft gdf-suez ge ghana gnl gtt gulf-of-mexico halliburton hess india indonesia inpex iraq jacobs jgc kbr keppel licence lng lukoil lundin maersk-drilling malaysia mcdermott methanier mozambique natural-gas nigeria nigeria nord-stream north-sea norway novatek offshore oman omv opec pdvsa pemex petrobras petrofac petronas pgnig pipeline platform qatar qatar-petroleum qatargas raffinerie refinery repsol rig riser rosneft russia rwe saipem santos saudi-aramco schlumberger seadrill senegal shale-gas shell socar sonatrach south-stream statoil subsea subsea-7 survey tap technip technipfmc texas total transocean tullow turbine ufip uk us vallourec vopak well wintershall wood-group woodside



Europétrole © 2003 - 2020