Valeura Energy signs three-year charter agreement with Shelf Drilling for jack-up rig operations in the Gulf of Thailand

Canada-based oil and gas company Valeura Energy signed a three-year charter agreement with Shelf Drilling to lease the Shelf Drilling Enterprise jack-up rig for operations in the Gulf of Thailand. The rig, owned by Shelf Drilling (Southeast Asia) - a subsidiary of ADES Holding Company - is scheduled to begin operations in Q4 2026, with initial work focusing on production acceleration projects. The Shelf Drilling Enterprise is a premium jack-up rig built in 2007 and upgraded in 2022, capable of operating in water depths up to 375 feet. Valeura's CEO Sean Guest stated the company is capitalizing on favorable rig market pricing to expand its drilling program through 2029, following three consecutive years of 200% reserves replacement ratio. The agreement provides Valeura flexibility on the start date while locking in rig availability during a period of robust drilling opportunities in its core Gulf of Thailand portfolio.

Counterparts (4)

parent_company

ADES Holding

company · 2 deals

Al-Khobar-based oil and gas drilling services provider operating 50 jackup rigs and 40 land rigs globally as the world's leading offshore drilling service provider.

Buyer

Valeura Energy

company · 1 deals

Canadian upstream oil & gas company with operations in offshore Thailand and Turkey, expanding through acquisitions and organic growth in Southeast Asia.

supplier

S

Shelf Drilling

company · 1 deals

Southeast Asian Shipping Company

company · 1 deals

Southeast Asian Shipping Company is a maritime logistics provider operating primarily in the bulk carrier segment. The company recently took delivery of a 100,000 DWT bulk carrier, indicating ongoing fleet expansion and asset acquisition in the commercial vessel sector.