VAALCO Energy, Inc. Company News

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Gabon Operator Secures Borr Rig for Drilling Campaign
Friday, June 18, 2021VAALCO has executed a contract with Borr Jack-Up XIV for its 2021/2022 drilling program.

West Africa FPSO Contract Extended
Thursday, July 23, 2020BW Offshore reported that it has secured a one-year contract extension.

Offshore Gabon Workover a Success
Wednesday, April 15, 2020VAALCO Energy on Monday reported the successful completion of the South East Etame 2H Well Offshore Gabon.

VAALCO Agrees to Acquire Sojitz's Stake in Etame Marin Permit Off Gabon
Tuesday, August 02, 2016VAALCO agrees to acquire Sojitz's 3.23 percent participating interest in the Etame Marin Permit offshore Gabon.

VAALCO Updates on Operations at Etame Marin Block Offshore Gabon
Tuesday, October 13, 2015VAALCO provides an update of its operations at the Etame Marin block offshore Gabon.

First Oil Flows from the North Tchibala Field Offshore Gabon
Thursday, September 17, 2015VAALCO Energy flows first oil from the North Tchibala field offshore Gabon.

VAALCO Encounters Disappointment at Kindele-1 Exploration Well Off Angola
Tuesday, March 31, 2015VAALCO plugs and abandons the Kindeke-1 exploration well in Block 5, offshore Angola after encountering disappointing drilling results.

EMAS AMC Completes T&I Work on Gabon's Etame Marin Field Expansion
Thursday, October 16, 2014EMAS AMC completes a $120 million transportation and installation contract for VAALCO's Etame Marin field expansion project offshore Gabon.

VAALCO Completes Development Well Offshore Gabon
Tuesday, April 16, 2013VAALCO has successfully completed the new development well (EAVOM-3H) in the Avouma field.

Brenham Inks PSC Agreement for Equatorial Guinea Block
Thursday, December 20, 2012Brenham Oil & Gas has executed a production sharing contract with the government of Equatorial Guinea in West Africa.

VAALCO Brings Granite Wash Well Online
Tuesday, August 16, 2011VAALCO announced first production from its successful exploration well drilled in Hemphill County, Texas in the Granite Wash formation.

Magellan, Vaalco Sign LOI for Bakken Development in Montana
Monday, July 18, 2011Magellan Petroleum Corporation signed a letter of intent (LOI) with Vaalco Energy Inc. to begin work on developing the Bakken formation and deeper horizons within the East Poplar Unit and Northwest Poplar Field in Roosevelt County, Montana (Poplar).

VAALCO Board Member Waves Goodbye
Tuesday, March 22, 2011VAALCO announced that one of its directors, William S. Farish, has informed the Board of Directors that he intends not to seek re-election.

VAALCO Acquires Tx. Acreage, Rig
Friday, March 11, 2011VAALCO has recently acquired a 640 acre lease in the Granite Wash formation in Hemphill County, Texas and that the Company has secured a drilling rig.

VAALCO Pumps First Oil at South Tchibala
Monday, November 29, 2010VAALCO announced that oil production has commenced from the Company's South Tchibala development well (ETBSM-2H) following successful operations to retrieve the completion assembly.

VAALCO on Track with Gabon Development Program
Tuesday, October 05, 2010VAALCO has successfully drilled and completed Etame 7H and has now spudded the next well in its Gabon development program.

VAALCO to Farm-Out Gabon Permit to Total
Tuesday, August 17, 2010VAALCO has executed a farm-out agreement with Total Gabon for the Mutamba Iroru Permit, onshore Gabon.

VAALCO Updates Southeast Etame Ops
Tuesday, August 03, 2010VAALCO rovided a further update on the Southeast Etame No. 1 ("ETSEM-1") exploration well.

VAALCO Spins Bit Offshore Gabon
Friday, July 16, 2010VAALCO provided an update on the Southeast Etame No. 1 exploration well offshore Gabon.

VAALCO Discovers Oil Offshore Gabon
Wednesday, June 16, 2010VAALCO announced the Southeast Etame No. 1 (ETSEM-1) exploration well completed drilling to a total depth of 9,045 feet (2,757 meters) offshore Gabon.

VAALCO Updates on Ops Offshore Gabon
Tuesday, May 18, 2010VAALCO says the Sapphire Driller has successfully completed operations on the Ebouri 3H workover and has moved onto location to drill the SE Etame exploration well.

VAALCO Starts off 1Q Positively
Monday, May 10, 2010"We are pleased with the profitability VAALCO delivered in the first quarter and the positive start on our 2010 drilling program," said Robert Gerry.

VAALCO Primes Bit for Gabon Drilling Program
Wednesday, March 10, 2010The Sapphire Driller jackup is on location at the Ebouri Platform offshore Gabon and will commence drilling the first of four wells today, March 10, 2010.

VAALCO Welcomes Myers to Board
Thursday, March 04, 2010VAALCO Energy announced that John J. Myers, Jr. has been appointed to the Company's Board of Directors.

VAALCO Buys More Time for Etame Permit Off Gabon
Tuesday, December 01, 2009VAALCO Energy has successfully negotiated an extension to its Etame Marin Exploration Permit offshore Gabon three years beyond the original expiration date of July 2011.

VAALCO Posts 3Q Results, Plans 'Aggressive' Drilling Program
Tuesday, November 10, 2009"VAALCO's strong balance sheet positions us to execute an aggressive drilling program before year-end, while also exploring additional opportunities for growth," said CEO Robert Gerry.

VAALCO Achieves Record Production, Unveils 4Q Drilling Plans
Tuesday, August 11, 2009VAALCO has achieved a record daily average production exiting the second quarter and has announced new drilling opportunities planned for the fourth quarter 2009.

VAALCO Energy to Redeem Rights Under Plan
Thursday, July 09, 2009VAALCO Energy's Board has determined to redeem the rights issued under the Company's stockholder rights plan.

VAALCO Authorizes Share Buyback Program
Wednesday, June 24, 2009VAALCO's Board of Directors has authorized the repurchase of up to $10 million of the Company's common stock.

VAALCO Reports Loss for 1st Quarter 2009
Tuesday, May 12, 2009Robert Gerry, VAALCO's Chairman and CEO, said, "We are naturally disappointed with our first quarter performance, given the results of our exploration program."

VAALCO All Wet at Mutamba Well, Completes Ebouri Devt Well
Tuesday, April 14, 2009VAALCO has reported on its exploratory well located onshore Gabon in the Mutamba concession and its new development well located in the Ebouri field offshore Gabon in the Etame Marin Block.

VAALCO to Abandon Block 48/25c Well in UK North Sea
Tuesday, March 24, 2009VAALCO Energy, Inc. announced that the consortium responsible for drilling a gas prospect on Block 48/25c in the British North Sea has elected to abandon the well.

VAALCO Posts Full-Year Results, Anticipates Continued Growth in '09
Monday, March 16, 2009In 2008, VAALCO replaced 166% of production, increased proved reserves by 19%, increased net income by 56% and maintained a strong balance sheet with $125.4 million of cash and $5 million of debt.

VAALCO All Wet at Onshore Gabon Exploratory Well
Tuesday, February 24, 2009VAALCO encountered a water-bearing reservoir at that the first of two exploratory wells onshore Gabon in the Mutamba concession. The well will be plugged and abandoned.

VAALCO to Turn Taps on 2nd North Ebouri Producer in March
Tuesday, February 17, 2009VAALCO expects to complete and place on production a second successful development well in the offshore Gabonese Ebouri Field.

VAALCO Commences North Sea Drilling, Prepares for Angola Spud
Tuesday, February 17, 2009VAALCO Energy has provideded an update on its drilling program in the UK North Sea and West Africa.

VAALCO Turns on Taps at New Ebouri Well Offshore Gabon
Tuesday, January 27, 2009Oil production has commenced from VAALCO's new development well in the Ebouri field offshore Gabon.

Two Successful Delineation Wells Extend Ebouri Field Offshore Gabon
Friday, January 09, 2009Successful delineation drilling has extended the Ebouri field offshore Gabon and will subsequently boost the Etame Marin license's production volume.

VAALCO Successfully Extends Ebouri Field with Development Drilling
Wednesday, December 31, 2008VAALCO has extended the Ebouri field with successful appraisal drilling and expects to ramp up production from the Etame license to 25,000 bopd by adding more development wells.

VAALCO Spuds New Ebouri, Etame Wells Offshore Gabon
Friday, November 21, 2008VAALCO has commenced drilling its development well in the Ebouri field and at its appraisal well in the Etame block.

VAALCO Notes Earnings Boost in Third Quarter
Monday, November 10, 2008VAALCO announced that for the third quarter of 2008, net income was $22.3 million, compared to $8.8 million for the comparable period in 2007.

Wednesday, October 22, 2008VAALCO announced that Gregory R. Hullinger has been named Chief Financial Officer of the Company.

VAALCO to Upgrade FPSOs Serving West African Fields
Wednesday, October 15, 2008VAALCO currently has six producing wells in offshore Gabon, West Africa -- four in its Etame field and two in the Avouma/Tchibala fields. Production from these wells is steady, totaling approximately 20,500 barrels per day.

VAALCO Remains on Track with Strong Q2 Net, Exploration Growth
Tuesday, August 12, 2008VAALCO announced that for the second quarter of 2008, net income was $13.0 million or $0.22 per diluted share compared to net income of $3.7 million or $0.06 per diluted share for the comparable period in 2007.

VAALCO Installs Ebouri Platform, Looks to Drill in West Africa
Friday, August 01, 2008VAALCO announced that it has completed the installation of the production platform at its Ebouri field in offshore Gabon, West Africa. The platform has been tied back via pipeline to the FPSO that serves the Etame and Avouma/Tchibala fields.

VAALCO Appoints Brazelton to Board
Friday, June 27, 2008VAALCO Energy, Inc. has appointed Frederick W. Brazelton to the Company's Board of Directors. VAALCO's Board has been expanded to eight directors, six of whom are independent.

VAALCO Upgrades FPSO at Gabon, Announces Arrival of Ebouri Platform
Wednesday, June 18, 2008VAALCO Energy announced production at its fields in offshore Gabon, West Africa, has been restored following the transfer of equipment to upgrade the Floating Production, Storage and Offloading facility, also the barge carrying the platform arrived.

Vaalco Energy Upgrades FPSO in West Africa
Tuesday, June 10, 2008Vaalco Energy will shortly begin a planned upgrade to the FPSO facility serving its Etame and Avouma fields in offshore Gabon, West Africa.

VAALCO Energy Announces First Quarter 2008 Earnings
Friday, May 09, 2008VAALCO Energy Inc. announced that for the first quarter of 2008, net income was $1.8 million or $0.03 per diluted share compared to net income of $4.6 million or $0.08 per diluted share for the comparable period in 2007.

VAALCO Plans Major Exploration, Contracts 2 Rigs Offshore Gabon
Friday, May 09, 2008VAALCO's exploration program, which includes seven exploration wells over the next 12-18 months, will expose the company to in excess of 50 million net barrels, representing an 8-fold potential increase in reserves.