VAALCO Energy reports new well production in Gabon drilling program

VAALCO Energy Inc. (NYSE: EGY, LSE: EGY) reported operational updates from its drilling program in Gabon and progress on bringing its Baobab field offshore Côte d'Ivoire back online.

The company completed the Etame 14H development well in the Main Fault Block of the Etame field, achieving an initial flow rate of approximately 4,850 gross barrels of oil per day, with 2,850 barrels per day net to VAALCO. The well encountered 325 meters of net pay in Gamba reservoir sands.

VAALCO has mobilized its drilling rig to the Ebouri platform and commenced drilling the EEBOM-5H development well. The well targets an updip position by sidetracking from the previously abandoned EEBOM-5P well.

The company's Baobab Ivoiren floating production storage and offloading vessel completed a 47-day journey from Dubai's Dry Dock World shipyard, where it underwent refurbishment, and arrived in Côte d'Ivoire on April 2. The vessel is now moored at its original location and beginning the process of reconnecting risers and umbilicals. Production restart remains scheduled for the second quarter of 2026.

"We continue to see positive results from our Gabon drilling campaign," said George Maxwell, VAALCO's chief executive officer. "We are very pleased with the initial well rates of around 4,850 gross BOPD, or 2,850 net BOPD and are excited to add this new production."

VAALCO operates production, development and exploration assets across Gabon, Egypt, Côte d'Ivoire, Equatorial Guinea, and Nigeria. The information is based on a company press release.

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