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  • VAALCO Announces Completion of 3-D Seismic Survey Data Acquisition Over Entire Etame Marin Block
    édité le 07/12/2020 - Plus de news de "Vaalco Energy" - Voir la fiche entreprise de "Vaalco Energy"


VAALCO Announces Completion of 3-D Seismic Survey Data Acquisition Over Entire Etame Marin Block
VAALCO Energy, Inc. announced that the acquisition of three dimensional (“3-D”) seismic data at the Etame Marin block offshore Gabon has been completed.

Highlights

- Completed the acquisition of nearly 1,000 square kilometers of new dual-azimuth proprietary 3-D seismic data over the entire Etame Marin block which will be used to optimize and de-risk future drilling locations and potentially identify new drilling locations;
- Enhances sub-surface imaging by merging legacy data with newly acquired seismic allowing for the first continuous 3-D seismic over the entire block;
- Estimates the total costs of both the acquisition and processing of seismic data to be approximately $14 to $16 million gross over the period from Q4 2020 through Q4 2021 and VAALCO expects to fully fund its portion with cash on hand and cash from operations;
- Processing of the seismic data expected to begin in January 2021 with all data expected to be fully processed and analyzed by Q4 2021; and
- Planning for the commencement of the next drilling campaign at Etame in late 2021 or early 2022.

About VAALCO

VAALCO (NYSE: EGY; LSE: EGY), founded in 1985, is a Houston, USA based, independent energy company with production, development and exploration assets in the West African region.

The Company is an established operator within the region, holding a 33.6% participating interest in the Etame Marin block, located offshore Gabon, which to date has produced over 118 million barrels of crude oil and of which the Company is the operator.


Origine : Communiqué Vaalco Energy

Voir la fiche entreprise de "Vaalco Energy"



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