Valeura Lifts Output in Turkey

Turkey-focused Valeura Energy ramped up gas production in the country’s western Thrace basin by 22% to 646 boe/d in the fourth quarter, compared with the previous three months, it said in a London stock filing.

The Canadian company attributed the growth to its use of well workovers and recompletions. It sold its gas at $7.40/ft³ during the year, earning enough revenue to cover its operating costs.

Valeura currently produces only shallow, conventional gas. But it wants to develop deeper tight gas, having tested several wells targeting the resource.