Valeura Energy (TSE:VLE) Releases Quarterly Earnings Results

Valeura Energy (TSE:VLE) released its earnings results on Thursday. The company reported C$0.07 earnings per share for the quarter, FiscalAI reports. Valeura Energy had a net margin of 3.59% and a return on equity of 3.40%. The company had revenue of C$135.87 million during the quarter.

Here are the key takeaways from Valeura Energy’s conference call:

• Valeura said it delivered another strong year of growth, with market value rising to just over $1 billion from about $600 million a year earlier, alongside a cash balance of more than $250 million at the end of Q1.
• The company highlighted continued reserve growth, saying it achieved nearly 200% reserve replacement and now has about 58 million barrels of reserves, implying an almost eight-year reserve life.
• Valeura said its major Wassana redevelopment project is on schedule and on budget, and management now expects it could come in under budget and possibly even early.
• The company emphasized a strong operational outlook, with production and operating expenses tracking within guidance and higher oil prices boosting revenue and cash flow potential going into the rest of the year.
• Management said the G1/G3 farm-in with PTTEP is awaiting government approval after delays tied to Thailand’s election, while Turkey testing is still being set up and has yet to generate new data.

Valeura Energy Stock Performance

TSE VLE traded up C$0.60 on Friday, hitting C$13.55. The stock had a trading volume of 690,324 shares, compared to its average volume of 563,074. Valeura Energy has a one year low of C$6.07 and a one year high of C$15.60. The company has a quick ratio of 3.37, a current ratio of 2.12 and a debt-to-equity ratio of 17.04. The stock has a market cap of C$1.44 billion, a price-to-earnings ratio of 64.52 and a beta of -1.02. The company’s 50-day moving average is C$13.33 and its two-hundred day moving average is C$10.22.

Valeura Energy Company Profile

Valeura Energy Inc is an upstream oil & gas company, with a clear strategy to add value for shareholders through growth. The Company is expanding operations organically and through acquisitions in Southeast Asia, focussing on assets with immediate or substantial near-term cash flow, with imbedded reinvestment opportunities.