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VAALCO Announces Strong Production Results From Southeast Etame Development Well

Source: www.gulfoilandgas.com 7/20/2015, Location: Africa

VAALCO Energy, Inc announced that the Southeast Etame 2-H well, the first development well drilled in the Southeast Etame Field, was brought online at the rate of approximately 3,400 barrels of oil per day (approximately 850 barrels per day net to VAALCO). The well was drilled to a measured depth of approximately 14,012 feet, targeting a new reservoir that was discovered by an exploration well drilled by VAALCO in 2010. It is producing from the Gamba formation which is the source of all other VAALCO production in the Etame Marin permit area but the first production from this new, previously- unproduced field. The Etame 2-H well is not producing any formation water or hydrogen sulfide (H2S), has a flowing tubing pressure of 1,080 PSI, and is producing at the lowest setting on the ESP (electrical submersible pump). The combination of reservoir pressure that is at original conditions, productivity equivalent to or greater than other nearby Gamba development wells and the low setting being utilized on the ESP confirm the strength of this well. VAALCO plans to continue to produce the well at the current rate to monitor wellhead and downhole pressure and to optimize fluid throughput at the recently commissioned production facilities on the platform.

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