Valeura Energy (TSE:VLE) has released an update.
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Valeura Energy has reported a productive first quarter in 2024 with oil production averaging 21.9 thousand barrels per day and a peak rate of approximately 23 thousand barrels per day, alongside a strong financial performance featuring revenue of $149.4 million and a robust cash balance of $193.6 million. The company successfully completed scheduled maintenance within time and budget, and achieved a slight premium in oil price realisations over Brent crude benchmarks. With no debt on the books, Valeura Energy is looking to leverage its solid Q1 results to explore value-adding opportunities, including further exploration and development projects.
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