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Highlights

  • VAALCO Energy Inc. placed the Etame 15H-ST well on production at about 2,000 BOPD.
  • The company spudded a West Etame exploration well targeting mid-March results.
  • The Kossipo field operatorship was confirmed with a 60% working interest.
  • New OBN seismic data is guiding the updated development plan.
  • The Baobab FPSO is scheduled to return to the field by late March.

VAALCO Energy Inc. (NYSE:EGY, LSE:EGY) reported operational updates in Gabon and Côte d’Ivoire, covering a producing development well, an active exploration campaign and confirmation of operatorship in an offshore discovery. The update outlines ongoing drilling, project planning milestones and infrastructure movement expected through 2026.

Gabon Well Moves Into Production

The Etame 15H-ST development well in the Etame field has been drilled, completed and brought online in the 1V block. It includes a 250-metre net pay lateral in Gamba sands near the top of the reservoir. The well recorded a stabilised flow rate of approximately 2,000 gross barrels of oil per day with a 38% water cut through a 42/64 choke and ESP at 54 Hz. Reservoir pressure is being actively managed.

Step-Out Exploration Drilling Underway

A new exploration well targeting the West Etame prospect was spudded in mid-February from the S1 slot on the Etame platform. The prospect carries a 57% geological chance of success and is expected to reach the target zone by mid-March. A successful result could add production and reserves to the company’s 2026 year-end position.

Operatorship Secured in Kossipo Field

In Côte d’Ivoire, the company has been confirmed as operator with a 60% working interest in the Kossipo field on the CI-40 block, with PetroCI holding the remaining 40%. A field development plan is expected in the second half of 2026.

Resource Position and Seismic Inputs

Ocean bottom node seismic data is being used to update the evaluation and development approach for Kossipo. The field has estimated gross 2C resources of about 102 million barrels of oil equivalent and approximately 293 million barrels in place. It was discovered in 2002 and appraised in 2019.

FPSO Return Timeline

The Baobab Ivorien floating production storage and offloading vessel is currently off the East coast of Africa and is expected to return offshore Côte d’Ivoire by late March, with production targeted to begin in the second quarter of 2026.

Closing Price (Feb 23, 2026): USD 5.04, down 0.11 (2.14%)

FAQs

  1. What production rate did the Etame 15H-ST well achieve?
    It stabilised at approximately 2,000 gross barrels of oil per day.
  2. What is VAALCO’s stake in the Kossipo field?
    The company holds a 60% working interest and acts as operator.
  3. When is the Kossipo field development plan expected?
    It is targeted for completion in the second half of 2026.