VAALCO Energy, Inc. (ticker: EGY) reported an income of $10.3 million, or $0.17 per diluted share for 2017. In Q4 2017, the company reported an income of $3.5 million, or $0.06 per diluted share. The company produced an average of 3,957 net BOPD in Q4 2017 and for the full year of 2017, VAALCO produced approximately 16,649 BOPD. The company’s
Q3 highlights Reported loss from continuing operations of $0.1 million or $0.00 loss per diluted share Generated operating income of $3.7 million Produced an average of 3,707 barrels of oil per day (BOPD) Production from the South Tchibala 1-HB was restored at a rate of 1,100 BOPD gross (300 BOPD net) Current production has increased to approximately 15,300 BOPD gross
Company Net Production is Averaging 4,600 BOEPD VAALCO Energy, Inc. (ticker: EGY) announced today that the Avouma 2-H well on the Avouma Platform offshore Gabon is back on production after utilizing a hydraulic workover unit to replace a failed Electric Submersible Pump (ESP) system. The well is currently producing at a stabilized rate of 2,700 barrels of oil per day
VAALCO finances purchase of 3.23% participating interest with $5 million loan and cash on hand Houston—based VAALCO Energy (ticker: EGY) announced today that the company purchased an additional 3.23% interest in its flagship Etame asset located offshore of the Republic of Gabon. The interest was purchased from Sojitz Etame Limited, and represented the company’s total interest in the offshore project.
Raises Production Guidance for 2015 VAALCO Energy (ticker: EGY) reported average production volumes of 4,800 BOEPD in its Q3’15 results on November 9, 2015, marking a sequential increase of 6% from the prior quarter. The volumes surpassed the high end of guidance (4,700 BOEPD) and prompted EGY management to raise estimated 2015 averages to 4,400 to 4,700 BOEPD, up from
Shell starts third phase offshore Nigeria in Bonga field Royal Dutch Shell (ticker: RDSA) said today that it is starting the third phase of its Bonga field production offshore Nigeria. The third phase of the project will have a peak production of 50,000 barrels of oil equivalent, Shell said in an email. The floating production and storage facility serving Bonga’s
U.S. GOM share of global offshore rigs is falling The number of active offshore rigs in the Gulf of Mexico (GOM) has been steadily declining since 2000, according to a release from the Energy Information Administration (EIA). Over the past 15 years, the share of global offshore rigs in the GOM has declined from almost half of all active offshore
VAALCO Energy’s CEO, Steven Guidry, speaks with Oil & Gas 360® in an exclusive video interview at EnerCom’s The Oil & Gas Conference® 20. VAALCO Energy – The Oil & Gas Conference® 20 Webcast … Username or E-mail Password Remember Me Forgot Password
Steve Guidry, CEO of VAALCO Energy, Inc. (NYSE: EGY), presented today at EnerCom’s The Oil & Gas Conference® 20. VAALCO Energy is a Houston based independent energy company principally engaged in the acquisition, exploration, development and production of crude oil. VAALCO’s strategy is to increase reserves and production through the exploration and exploitation of oil and natural gas properties with high emphasis on
VAALCO Energy (ticker: EGY), a Houston-based exploration and production company with operations in West Africa, has commenced production from its Southeast Etame/North Tchibala (SEENT) platform offshore Gabon. The Southeast Etame 2-H well returned 3,400 BOPD and is not producing any formation water or hydrogen sulfide – qualities that had existed in some previously drilled wells. VAALCO is the operator of
VAALCO Energy, Inc. (EGY) today announced that Cary Bounds will join VAALCO as Chief Operating Officer effective July 6, 2015. Mr. Bounds is a petroleum engineer and has almost 25 years of domestic and international asset management, business development, planning and technical engineering experience at large, multinational energy companies as well as at mid-sized and larger independent E&P companies. From
VAALCO Energy, Inc. is a Houston based independent energy company principally engaged in the acquisition, exploration, development and production of crude oil. VAALCO places high emphasis on international opportunities and holds acreage in Gabon, Angola and Equatorial Guinea in West Africa. A total of 2,487,000 gross acres (902,000 net) are in EGY’s portfolio, with the majority (roughly 89%) located offshore.
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