Monday, April 11, 2022
VAALCO Energy today announced the successful drilling of the Avouma 3H-ST development well that was drilled from the Avouma platform in the Etame field, offshore Gabon.
Highlights
George Maxwell, VAALCO’s Chief Executive Officer, commented, “With the drilling of the Avouma 3H-ST well, VAALCO continues the success of our 2021/2022 drilling campaign. We are very excited by the high-quality Gamba sands that we encountered drilling the Avouma 3H-ST well. The well confirms the extension of the Avouma field into an updip location that should lead to increased recovery at Avouma and opens the potential for additional development well opportunities. The continued success of our drilling campaign further demonstrates the quality of our premier Etame asset. We expect the well to be online in the next few weeks and will provide the market with an update when we have initial production data.
“Post completion we will begin drilling the next planned well on the Avouma platform, the ETBSM-1HB ST2 development well. Our focus is on continuing to execute on our strategy and delivering strong operational and financial results. We are excited about the future for VAALCO with the continued development of our interests in offshore Gabon, upside opportunities in Equatorial Guinea and the potential to integrate accretive acquisitions aimed at further strengthening VAALCO and growing shareholder value.”