Business UpdateJun 15, 2026, 02:01 AM
VAALCO Energy Reports Strong Drilling Results in Gabon & Egypt
AI Summary
VAALCO Energy announced positive operational updates from its ongoing drilling programs offshore Gabon and onshore Egypt. In Gabon, the Ebouri-5H development well achieved initial flow rates exceeding 8,000 gross barrels of oil per day (BOPD) and the rig has been mobilized to the SEENT platform for further drilling. In Egypt, the HE-9 development well, the first in the 2026 program, was successfully completed and placed on production with an initial flow rate of 529 gross BOPD, surpassing pre-drill expectations. The company anticipates continued success and profitability for the remainder of 2026.
Key Highlights
- Ebouri-5H well in Gabon achieved initial flow rate exceeding 8,000 gross BOPD (4,700 BOPD net to Vaalco).
- Ebouri-5H well encountered 300 meters of net pay in high-quality Gamba sands.
- Rig mobilized to SEENT platform in Gabon to drill the ETBNM-3 development well.
- HE-9 development well in Egypt achieved initial flow rate of 529 gross BOPD.
- HE-9 well encountered 26 meters of net pay in the Asl B reservoir.
- Natural gas from successful ETBNM-3 well will be used for operational purposes, reducing diesel costs.
Price Impact
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