Vaalco Makes Significant Find Offshore Gabon
Oil and gas energy Vaalco Energy has found oil on the South Tchibala 1HB-ST well drilled from the Avouma platform in the Etame field, offshore Gabon.
Vaalco said that the well discovered significant columns of multiple hydrocarbon-bearing sands in the Dentale formation.
Completing the Dentale D1 sand revealed 60 feet of net hydrocarbons, which is analogous to the Deep Dentale producing field in North Tchibala with similar porosity and permeability. Additional cased Dentale D9 interval revealed 50 meters of net hydrocarbons and Vaalco claimed that it could be tested and completed in the future.
The company added that it also penetrated a thin section of the Gamba sand that is not economically viable to complete in this wellbore.
The new well adds new reserves that were previously not captured in Vaalco’s 2P reserves, upon successful completion and first production, these reserves will be additive to Vaalco’s 1P reserves. This also potentially adds new future drilling locations in the Deep Dentale trend across the Etame block and currently completing the South Tchibala 1HB-ST well with initial production expected in June.
"With the drilling of the South Tchibala 1HB-ST well and completion in the Deep Dentale interval, VAALCO will add new reserves and production that were not previously in our 2P reserve base. Additionally, there is the D9 sand that will remain cased as we produce out of the D1 that could be tested or completed in the future,” George Maxwell, Vaalco’s Chief Executive Officer, said.
“This discovery is analogous to our producing Dentale in North Tchibala. The continued success of our drilling campaign further demonstrates the quality of our premier Etame asset. We expect the well to be online in June and will provide the market with an update when we have initial production data," added.
To remind, Vaalco Energy started producing oil from the second well in its 2021/2022 drilling campaign offshore Gabon in late April. Namely, the Avouma 3H-ST development well was also drilled from the Avouma platform. The initial flow rate of the well was approximately 3,100 gross barrels of oil per day, which was above the company’s internal expectations.
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