Highlights 

  • VAALCO Energy has commenced its Phase Three Drilling Program offshore Gabon. 
  • First well ET-15 has been spudded on the Etame platform. 
  • The rig will move to SEENT and Ebouri for additional wells and workovers. 
  • Multi-country projects in Gabon and Côte d’Ivoire position the company for expansion into 2026. 
  • Management expects the program to unlock new production opportunities and reduce operational costs. 

VAALCO Energy, Inc. (NYSE:EGY) has kicked off its Phase Three Drilling Program offshore Gabon, marked by the successful spudding of the ET-15 infill well on the Etame platform. The rig arrived in late November, allowing operations to advance according to the company’s previously communicated development timeline. Chief Executive Officer George Maxwell noted that this drilling phase is part of a planned series of catalysts outlined during VAALCO’s Capital Markets Day earlier this year. The ET-15 well is the first step in a broader initiative aimed at increasing efficiency and unlocking additional value from existingassets. 

Next Steps: SEENT and Ebouri Platforms 

Following completion of drilling activities on the Etame platform, the rig will relocate to the SEENT and Ebouri platforms. The company intends to execute multiple wells and workovers designed to enhance production and reduce operational costs. These efforts are intended to support reserve additions and improve project economics across VAALCO’s West African asset base. The Phase Three Program builds upon the drilling rig secured in December 2024 through its agreement with an affiliate of Borr Drilling. The integrated plan reflects VAALCO’s active focus on development, resource optimization, and near-term operational progress. 

Strategic Positioning Across Africa and Beyond 

Founded in 1985 and headquartered in Houston, Texas, VAALCO maintains a diversified portfolio spanning Gabon, Egypt, Côte d’Ivoire, Equatorial Guinea, Nigeria and Canada. The latest drilling milestone supports the company’s ongoing strategy to accelerate growth through targeted development and exploration. Management emphasized that the initiatives underway in Gabon and Côte d’Ivoire are expected to contribute meaningfully in 2026 and beyond. VAALCO reiterated its confidence in advancing multi-region projects while continuing to evaluate future acquisition opportunities that complement its operational footprint. 

Conclusion 

VAALCO Energy’s initiation of the Phase Three Drilling Program marks a meaningful step in its ongoing operational plan in West Africa. With the ET-15 well now underway and additional wells scheduled across SEENT and Ebouri, the company aims to elevate production efficiency, manage costs, and enhance asset performance. As VAALCO progresses into 2026 with multiple active developments, the company positions itself for expanded growth potential and sustained shareholder value creation.  

VAALCO Energys’ shares closed at USD 3.46, marking a 2.54% decrease from the prior session.