Valeura Energy has chartered the jack-up rig Enterprise from Shelf Drilling for multi-year work in the Gulf of Thailand.
The company has an option on the start date and is currently planning to begin operations with the rig in the fourth quarter of 2026. The initial scope is set to center on production acceleration projects.
Built in 2007, Enterprise was last upgraded in 2020. The rig was previously known as Maersk Completer. Shelf Drilling bought it from Maersk in 2019 and renamed it in January 2020. The unit is based on the Baker Marine Pacific 375 design and can accommodate 150 people.
Before this charter, Enterprise completed a campaign with PTTEP in Thailand in July 2025. It was then deployed to Vietnam in early October for one firm well for an undisclosed client.
Valeura Energy said three straight years of about 200% reserves replacement had materially changed its asset base. As of 31 December 2025, the company reported 57.8 mmbbls of proved plus probable reserves. It said this has increased the number of drilling targets and expanded the opportunity set within its core Gulf of Thailand portfolio.
The company also said rig pricing remains favorable, supporting its decision to secure Enterprise on a three-year term. President and CEO Sean Guest said the company’s position remained robust despite the relatively low commodity prices seen in late 2025.
With that position and what it described as a robust balance sheet, Valeura Energy said it intends to continue development, appraisal and exploration drilling across its portfolio through the end of 2029.
