Gabon-focused Vaalco Energy has completed the South East Etame 4H well at 2,200 barrels per day of oil.
US-based Vaalco Energy reported net income of $2.6 million for 2019 from production of 3,476 barrels per day in Gabon.
Texas-based Vaalco Energy’s production in Gabon is more than 6,000 barrels per day of oil, up 73% from its 2019 average.
Vaalco’s Etame 11H well in Gabon is producing at rates greater than had been expected before it was drilled, the Texas-based company said, boosting production.
Vaalco Energy has brought the Etame 9H well into production at a stabilised flow of 5,500 barrels per day, of which 1,500 bpd is net.
Vaalco Energy has posted a loss for the third quarter, with realised oil prices slipping and production down.
Gabon has signed a number of new exploration licences, while also extending production licences.
Vaalco Energy has set out formal plans to list on the London Stock Exchange’s main market. The listing should take place by September 30.
US explorer Vaalco has altered its drilling and workover programme offshore Gabon in the Etame Marin block after adverse weather forced it to reschedule.