HOUSTON, April 14, 2015 /PRNewswire/ -- VAALCO
Energy, Inc. (NYSE: EGY) today announced first production from
Etame 12-H, a development well drilled from the Etame platform
offshore Gabon. Etame 12-H was drilled to a measured depth of
approximately 3,450 meters targeting the recently discovered,
untapped lower lobe of the Gamba reservoir. Following
completion operations, the well was brought online at the rate of
approximately 2,000 BOPD on a gross basis (approximately 500 BOPD
net to VAALCO) with no indication of hydrogen sulfide
(H2S). The well is currently being temporarily
constrained at the above production level while it is being
optimized for efficiency. The Etame 12-H is an offset well to
the Etame 10-H well which began producing in February 2015, at a rate of 3,000 BOPD, and was
the first oil production from the recently commissioned Etame
platform.
"The offshore Gabon drilling
campaign that we began last year has so far resulted in increased
production of approximately 5,000 gross barrels per day of sweet
crude," said Steve Guidry, CEO of
VAALCO. "We are pleased with the encouraging results from the Etame
12-H well, and are optimistic about the opportunities we have to
expand production offshore Gabon
as part of our ongoing development campaign."
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 2-H well in the Southeast Etame field, where the Company and
its partners drilled a successful exploration well in 2010.
Following the drilling of the Southeast Etame 2-H well, the rig
will drill the North Tchibala 1-H well, the first of VAALCO's wells
offshore Gabon to be drilled
targeting the Dentale formation. No H2S is
expected from the Southeast Etame/N. Tchibala fields.
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.
Investor
Contact
Gregory R.
Hullinger
Chief Financial
Officer
713-623-0801
|
Media
Contact
Tim Lynch / Jed
Repko
Joele Frank,
Wilkinson Brimmer Katcher
212-355-4449
|
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-continued-success-with-first-production-from-etame-12-h-300065432.html
SOURCE VAALCO Energy, Inc.