VAALCO Energy has commenced its Phase Three Drilling Program offshore Gabon with the spudding of the ET-15 infill well on the Etame platform, initiating a series of value creation catalysts outlined to the market earlier this year.
George Maxwell, VAALCO’s Chief Executive Officer, commented: “We are excited to commence our drilling campaign in offshore Gabon and are beginning the near-term series of value creation catalysts that we outlined to the market. The drilling rig arrived in late November, and we have spud our first well, the ET-15. We are initiating the program at the Etame platform with this infill well and the pilot holes.”
After drilling at the Etame platform, the company expects to move the rig to the SEENT and Ebouri platforms where it has several wells and workovers planned to enhance production, lower costs, and potentially add reserves. The company secured a drilling rig in December 2024 in conjunction with its Phase Three Drilling Program with an affiliate of Borr Drilling.
Source: energy-pedia.com