Offshore staff
HOUSTON – VAALCO Energy has brought onstream the South East Etame 4H well offshore Gabon, at an initial flow rate of around 2,200 b/d of oil.
A workover is under way to replace the electric submersible pumps in the South East Etame 2H well. Production should be restored shortly.
CEO Cary Bounds said: “Our lowered operational breakeven, strong hedge position and increased production has enabled us to establish a solid financial footing which puts us in a stronger position to navigate the current low price oil environment…
“As of right now, VAALCO’s operations have not been disrupted, and we have managed through the logistical challenges that we have faced since the outbreak. VAALCO has contingency plans in place in the event that we are directly impacted, and we continue to put the safety of our workers and local stakeholders first.”
The company does not plan any further workovers and will release the contracted drilling rig on completion of operations on South East Etame 2H.
03/26/2020
