VAALCO Announces Successful Workover at South East Etame 2H Well and First Quarter 2020 Production of 4,944 NRI Barrels of Oil per Day
VAALCO Energy, Inc. (EGY)
US:NYSE Investor Relations:
vaalco.com/about-us/governance
Company Research
Source: GlobeNewswire
HOUSTON, April 13, 2020 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“VAALCO” or the “Company”) today provided an operational update including the successful completion of the South East Etame 2H workover and the release of the drilling rig used in its highly successful 2019/2020 drilling program. Highlights Successfully completed a planned workover on the South East Etame 2H well and restored 2,400 gross barrels of oil per day (“BOPD”), 650 BOPD net revenue interest (“NRI”)(1) to VAALCO;Increased total Company production to approximately 5,400 BOPD NRI or 6,200 working interest (“WI”)(2) BOPD following the successful workover;Released the Vantage Drilling International Topaz jackup drilling rig on April 9, 2020;Produced 4,944 BOPD NRI, or 5,683 BOPD WI in the first quarter of 2020, near the high end of first quarter guidance (4,700 - 5,000 NRI);Reported sales volumes of 294,000 barrels of oil, net to VAALCO for the first quarter of 2020 as compared to 318,00
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