Vaalco Energy

VAALCO Energy, Inc.
Public company
Traded as NYSE: EGY
Industry Petroleum industry
Founded 1985
Headquarters Houston, Texas, United States
Key people
 Cary Bounds, CEO[1]
Products Petroleum
Natural gas
Production output
 3,800 barrels of oil equivalent (23,000 GJ) per day[1]
Revenue Decrease US$127 million (2014)[1]
Decrease -US$54 million (2014)[1]
Decrease -US$78 million (2014)[1]
Total assets Decrease US$248 million (2014)[1]
Total equity Decrease US$180 million (2014)[1]
Number of employees
 113, including 60 in Gabon (2014)[1]
Website www.vaalco.com/

VAALCO Energy, Inc., is a petroleum and natural gas exploration and production company headquartered in Houston, Texas with operations primarily in West Africa.

Current operations

Of the company's 2014 production of 3,800 barrels of oil equivalent (23,000 GJ) per day, 97% was petroleum and 3% was natural gas.[1]

97% of production was in Africa, while 3% of production was in the United States.[1]

West Africa

The Company’s primary source of revenue is from its 28.07% interest, via a production sharing contract, in operations in the 750,000 acre (3,000 km²) Etame Marin block, located offshore near Gabon, West Africa.

Other participants in the Etame Marin block are Addax Petroleum Etame Inc. (31.36%), Sasol Petroleum Etame Ltd. (27.75%), Sojitz Etame Ltd. (2.98%), PetroEnergy Resources Corp. (2.34%), and Tullow Oil Gabon SA (7.5%).[2]

United States

The company owns a lease with 2 producing wells in the Granite Wash formation in Texas and deep rights on a lease in Montana. However, due to low commodity prices, the company has stated it will not focus additional resources on domestic production.[1]

References

  1. 1 2 3 4 5 6 7 8 9 10 11 VAALCO Energy, Inc. 2014 Form 10-K Annual Report
  2. ↑ "New Etame well shows strong for VAALCO offshore Gabon". Offshore Magazine. July 21, 2015.
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