Profile: VAALCO Energy Inc (EGY)
5 Feb 2016
VAALCO Energy, Inc. (VAALCO), incorporated on February 28, 1989, is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of crude oil and natural gas. The Company 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. VAALCO is the operator of unconventional resource properties in the United States in North Texas and leasehold in Montana. The Company also owns minor interests in conventional production activities as a non-operator in the United States. VAALCO's international subsidiaries include VAALCO Gabon (Etame), Inc., VAALCO Production (Gabon), Inc., VAALCO Angola (Kwanza), Inc., VAALCO UK (North Sea), Ltd., VAALCO International, Inc., VAALCO Energy (EG), Inc. and VAALCO Energy Mauritius (EG) Limited. VAALCO Energy (USA), Inc. holds interests in properties located in the United States.
Offshore Gabon- Etame Marin Block
VAALCO has an interest in an approximately 28,700 gross acre offshore block in Gabon, the Etame Marin block. The block contains the Etame, Avouma, South Tchibala and Ebouri fields, all of which are in production, and the Southeast Etame/North Tchibala field. These fields and discoveries consist of subsalt reservoirs that lie 20 miles offshore in water depths of approximately 250 feet. The Company owns a 28.1% interest in the development areas in and surrounding the Etame, Avouma/South Tchibala and Ebouri fields. During 2014, these fields produced approximately 5.8 million barrels (Bbls).
Onshore Gabon - Mutamba Iroru block
The Company's Mutamba Iroru block is located onshore near the coast in central Gabon. The Mutamba Iroru block contains an exploration area of approximately 270,000 acres. The Company has a 50% working interest on the block.
Offshore Angola - Block 5
The Company's holds working interest of 40% in the Block 5 offshore Angola. A drilling rig contract was signed in July 2014 for a semi-submersible rig to drill the exploration well on the Kindele prospect, a post-salt objective.
Offshore Equatorial Guinea - Block P
The Company's holds 31% working interest in Block P. The Block P is located in the offshore Equatorial Guinea for 57,000 acres.
Onshore Domestic - Texas
The Company's Hefley field (Granite Wash formation) is located in North Texas and a 480 acre lease in the same formation. During 2014, the two wells produced approximately 3,000 Bbls of condensate and 200 million cubic feet of gas net to the Company.
Onshore Domestic - Montana
The Company holds a 50% working interest in approximately 22,000 gross acres covering the Middle Bakken and deeper formations. It is located in the East Poplar unit and the Northwest Poplar field in Roosevelt County, Montana.
Domestic - Outside Operated
The Company has minor interests in Brazos County, Texas producing from the Buda/Georgetown formations. The Company also owns certain minor non-operated interests in the Ship Shoal area of the Gulf of Mexico and in Pickens County, Alabama. During 2014, these wells produced approximately 100 Bbls of oil and 5 million cubic feet of gas net to the Company.
VAALCO Energy Inc
9800 Richmond Ave Ste 700
HOUSTON TX 77042-4685