What's Happening?
Vaalco Energy, Inc. has announced positive operational updates regarding its activities in Gabon and Côte d'Ivoire. The company successfully drilled and completed the Etame 15H-ST development well in Gabon, achieving a stabilized flow rate of approximately
2,000 barrels of oil per day. Additionally, Vaalco has been confirmed as the operator with a 60% working interest in the Kossipo field in Côte d'Ivoire, with plans to complete a field development plan by the second half of 2026. The company is also advancing its exploration efforts with the spudding of a new well in the West Etame area, which has a 57% chance of geological success.
Why It's Important?
This development is significant as it positions Vaalco Energy for substantial production growth, with expectations of a 225% increase by 2030. The successful drilling operations in Gabon and the strategic positioning in Côte d'Ivoire highlight Vaalco's expanding footprint in Africa's oil and gas sector. This growth is crucial for the company as it seeks to enhance shareholder value and strengthen its market position. The operational success in these regions could also contribute to the economic development of the host countries through increased energy production and potential job creation.
What's Next?
Vaalco plans to continue its drilling activities in Gabon and finalize the field development plan for the Kossipo field in Côte d'Ivoire by late 2026. The company is also preparing for the return of the Baobab FPSO to Côte d'Ivoire, which is expected to commence production in the second quarter of 2026. These steps are part of Vaalco's broader strategy to drive production growth and maximize resource extraction in its African operations.
