Vaalco Energy (LSE:EGY) has completed its Phase 3 drilling programme offshore Gabon, bringing the ETSEM-3H development well onstream and demobilising the drilling rig from the field.
The London and New York-listed independent oil and gas producer, which operates assets across West Africa and Egypt, said the well reached a stabilised initial flow rate of approximately 2,000 gross barrels of oil per day, or 1,140 barrels per day net to Vaalco, after landing in an attic position within the Etame field with 300 metres of net pay in Gamba reservoir sands.
Offshore Côte d'Ivoire, Vaalco has begun drilling the Baobab Phase 5 programme, with the operator batch-setting the top-hole sections of the new wells before they are completed and brought onstream sequentially.
The campaign comprises four producer wells, three water injectors and two workovers, and follows the restart of the Baobab field in the second quarter after a yearlong refurbishment of its floating production, storage and offloading vessel.
Vaalco expects the first new producer online near the end of the year, supporting what it calls meaningful production growth in 2027.
"Our continued success and organic project pipeline support Vaalco's strategic focus on growing production, reserves and value for our shareholders," said George Maxwell, Vaalco's chief executive officer.