VAALCO Energy Inc. announced the crude oil drilling of the Avouma 3H-ST development well, from the Avouma platform in the Etame field, offshore Gabon.
Crude oil well highlights
Firstly, VAALCO successfully drilled the Avouma 3H-ST development well with a lateral of 268 meters in high-quality Gamba sands at the top of the structure.
Secondly, the encountered premium Gamba sands has 28% porosity and one millidarcy of permeability.
Thirdly, the company confirms the extension of Avouma reservoir; it is forecasted to increase the overall recovery from the field; it will allow additional wells at Avouma.
Besides, VAALco expects to complete initial production of the Avouma 3H-ST well in the next few weeks.
Moreover, the drilling program will continue with the spudding of the ETBSM-1HB ST2 development well from the Avouma platform.
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The well confirms the extension of the Avouma field into an updip location that will increase recovery at Avouma; it opens the potential for additional development well opportunities.
With the drilling of the Avouma 3H-ST well, VAALCO continues the success of our 2021/2022 drilling campaign. We are very excited by the high-quality Gamba sands that we encountered drilling the Avouma 3H-ST well.
George Maxwell, VAALCO’s Chief Executive Officer.
The continued success of the drilling campaign further demonstrates the quality of its premier Etame asset.
Post completion VAALCO will begin drilling the next planned well on the Avouma platform, the ETBSM-1HB ST2 development well.
The company’s focus is on continuing to execute on its strategy and delivering strong operational and financial results.
We are excited about the future for VAALCO with the continued development of our interests in offshore Gabon, upside opportunities in Equatorial Guinea and the potential to integrate accretive acquisitions aimed at further strengthening VAALCO and growing shareholder value.
George Maxwell.
About VAALCO
VAALCO, founded in 1985, USA based; is an independent energy company with production, development and exploration assets in the West African region.
Finally, the Company holds a 63.6% participating interest in the Etame Marin block, located offshore Gabon; which to date has produced over 125 million barrels of crude oil and of which the Company is the operator.
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