HOUSTON, Feb. 10, 2015 /PRNewswire/ -- VAALCO Energy,
Inc. (NYSE: EGY) today announced first production from Etame 10-H,
the second development well drilled from the newly installed Etame
platform, offshore Gabon. The horizontal development well was
drilled to a Measured Depth (MD) of 3,144 meters while intersecting
over 180m of high quality reservoir within an oil-bearing portion
of the Gamba Sand. Following completion operations,
the well was tested at the rate of approximately 3,200 BOPD on a
gross basis with negligible amounts of water and no hydrogen
sulfide (H2S). The well is currently being
produced at approximately 3,000 BOPD.
"We are very pleased with the results from the Etame 10-H well
and we are eager to continue our current drilling program offshore
Gabon," said Steve Guidry, CEO of VAALCO. "VAALCO has
produced over 85 million barrels of oil from the Etame Marin block
and, with our two new platforms, we are well positioned to continue
to deliver a growing production profile through most of 2015."
The contracted jack up rig, the Transocean "Constellation II",
is now being mobilized to drill additional development wells from
the Southeast Etame/N. Tchibala ("SEENT") platform, beginning with
the Southeast Etame 2-H well in the Southeast Etame field, where
the Company and its partners drilled a successful exploration well
in 2010.
Following the mobilization of the jack-up rig to the SEENT
platform, VAALCO is planning to conduct an extended well test of
the Etame 8-H well, drilled in the fourth quarter of 2014, to
confirm and quantify the presence of H2S, which was
detected during the initial 17 hour flow test. The well test
is expected to occur later in the first quarter of
2015.
About VAALCO
VAALCO Energy, Inc. 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 international
opportunities. The company's properties and exploration
acreage are located primarily in Gabon, Angola
and Equatorial Guinea in
West Africa.
Logo -
http://photos.prnewswire.com/prnh/20100316/NY71495LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/vaalco-energy-announces-strong-results-of-the-etame-10-h-well-300033964.html
SOURCE VAALCO Energy, Inc.