VAALCO Energy, Inc. (NYSE:EGY) Files An 8-K Other EventsItem 8.01.Other.
On November 28, 2017, VAALCO Energy, Inc. (the “Company”) announced that the workover operations for the South Tchibala 2-H and the South Tchibala 1-HB wells were completed, and the entire operation was conducted safely and efficiently with no injuries or environmental incidents.However, on November 24, the electrical submersible pump (ESP) in a different well on the same platform, the Avouma 2-H well failed, resulting in that well being temporarily shut-in. The well was producing approximately 1,925 barrels of oil per day (BOPD) gross, or 520 net to the Company, prior to being shut-in.
As previously announced, the ESP systems failed in both the South Tchibala 2-H and the South Tchibala 1-HB wells on the Avouma Platform. Following completion of workover operations on the South Tchibala 1-HB, which was restored at a rate of 1,100 BOPD gross, or 300 BOPD net to VAALCO, workover operations on the South Tchibala 2-H were completed and that well is currently producing at a stabilized rate of about 1,225 BOPD gross, or 330 BOPD net to VAALCO. With the addition of the two recent workover wells, and taking into account the suspension of production from the Avouma 2-H well, total Company net production is currently averaging approximately 3,950 BOPD. A copy of the Company’s press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01.Financial Statements and Exhibits.
Press Release dated November 28, 2017.
VAALCO ENERGY INC /DE/ ExhibitEX-99.1 2 egy-20171130xex99_1.htm EX-99.1 991 VAALCO ENERGY PROVIDES OPERATIONAL UPDATE HOUSTON – November 28,…To view the full exhibit click
About VAALCO Energy, Inc. (NYSE:EGY)
VAALCO Energy, Inc. is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of crude oil and natural gas. Its segments include Gabon, Angola, Equatorial Guinea, the United States, and Corporate and other, which includes corporate and operations support. It owns producing properties and conducts exploration activities as an operator in Gabon, West Africa; conducts exploration activities as an operator in Angola, West Africa, and participates in exploration and development activities as a non-operator in Equatorial Guinea, West Africa. In the United States, it operates unconventional resource properties in North Texas and hold undeveloped leasehold acreage in Montana. It also owns minor interests in conventional production activities as a non-operator in the United States. Its Etame Marin block is located offshore the Republic of Gabon. It owns over 640-acre lease in the Hefley field (Granite Wash formation) in North Texas.