Newsletter 
  INSCRIPTION Inscription | ESPACE ANNONCEURS Publicité | CONTACT Contact |PLAN DU SITE Plan


Europétrole, le portail de l'industrie du pétrole
 
 accueil | actualité française | actualité internationale | recherche | interviews | focus | actualité par entreprise | actualité pétrole/gaz de schiste 
Partager :

  • VAALCO Energy Announces Acquisition of Additional Working Interest in the Etame Marin Permit Offshore Gabon
    édité le 02/08/2016 - Plus de news de "Vaalco Energy" - Voir la fiche entreprise de "Vaalco Energy"


VAALCO Energy Announces Acquisition of Additional Working Interest in the Etame Marin Permit Offshore Gabon
VAALCO Energy, Inc. announced that it has signed a purchase and sale agreement to acquire an additional 3.23% participating interest in the Etame Marin Permit located offshore of the Republic of Gabon from Sojitz Etame Limited, which represents the full interest owned by Sojitz in the concession. The transaction has an effective date of August 1, 2016.

VAALCO is operator of and, prior to the acquisition, owned a 30.35% participating interest (28.1% working interest) in the fields in the Etame Marin block which encompasses approximately 28,700 gross acres in shallow water. There are four production platforms and nine wells currently producing in the concession, including three subsea well tiebacks. Production from the fields averaged about 19,000 barrels of oil per day in the second quarter of 2016 and over 93 million barrels of oil have been produced since production commenced in 2002. This acquisition is expected to boost VAALCO’s net production by nearly 11%, effective as of August 1, 2016.

The transaction is expected to close within 90 days, subject to customary closing conditions. The Company intends to fund the acquisition with the additional $5 million loan capacity available under the new term loan agreement announced in early July with the International Finance Corporation (IFC), subject to their approval, and with cash on hand.

Steve Guidry, VAALCO’s Chief Executive Officer commented, “We are very pleased to increase our participating interest in our flagship producing asset in offshore Gabon to 33.58%. VAALCO, operator of the Etame Marin block, drilled the first discovery in the field in 1997, so our technical team knows the area extremely well. We believe it has significant upside potential remaining. We have identified at least 17 future drilling opportunities we can pursue when prices recover that we estimate could include about 65 million barrels of gross unrisked recoverable contingent resources.”

Guidry continued, “This is an ideal acquisition for us as it is anticipated to increase our production by nearly 11% and not require any additional staffing or cash overhead costs to assimilate into the Company. One of the goals of our strategic review process we announced earlier this year was to seek opportunities to grow the Company in a cost effective manner to enhance shareholder value and we believe this acquisition fits perfectly within that strategy.”

About VAALCO

VAALCO Energy, Inc. (NYSE: EGY) is a Houston-based independent energy company principally engaged in the acquisition, exploration, development and production of crude oil. The Company's properties and exploration acreage are located primarily in Gabon, Equatorial Guinea and Angola in West Africa.


Origine : Communiqué Vaalco Energy

Voir la fiche entreprise de "Vaalco Energy"



Les dernières news de "Vaalco Energy"

  Emploi-Pétrole
 
Rechercher une news



française internationale








 
Les dernières news internationales


>> Toute l'actualité internationale     >> RSS
 
Recherche de news par tags

abu-dhabi adnoc aker-solutions algeria alstom amec anadarko angola apache australia axens azerbaijan baker-hughes barents-sea bechtel bg-group bp brazil canada carburant cbi centrica cgg chevron china cnooc cnpc co2 commission-europeenne compressor conocophillips consommation cpdp deepwater discovery drilling e-on edf egypt emerson engie engineering eni equinor exxonmobil feed flng flowline fluor fluxys fmc foster-wheeler fpso fsru fugro gabon gas gaz gazprom gazprom-neft gdf-suez ge ghana gnl gouvernement gtt gulf-of-mexico hess ifp india indonesia inpex iraq jacobs jgc kazakhstan kbr keppel licence lng lukoil lundin maersk-drilling malaysia mcdermott mozambique natural-gas nigeria nigeria nord-stream north-sea norway novatek offshore oman omv opec pdvsa pemex petoro petrobras petrofac petronas pgnig pipeline platform qatar qatar-petroleum qatargas raffinerie refinery repsol rig riser rosneft russia rwe saipem santos saudi-aramco schlumberger seadrill shah-deniz shale-gas shell siemens sinopec socar sonangol sonatrach south-stream statoil subsea subsea-7 tap technip technipfmc total transocean tullow turbine ufip uk vallourec vessel vopak well wintershall wood-group woodside



Europétrole © 2003 - 2019