Vaalco Energy, an exploration company focused on West Africa, has completed the Etame 9H development well offshore Gabon
The horizontal Etame 9H well opened up some 1,000 feet of the Gamba reservoir and it came online with a stabilised flow rate of 5,500 bopd, gross, which gives Vaalco Energy around 1,500 bopd net.
Due to high reservoir quality, the company said, production is higher than the pre-drill estimate of 2,500 to 3,500 bopd.
As a result, Vaalco has now increased its forecast net exit production rate for 2019 to between 4,500 to 4,700 gross bopd, up 16 per cent from its prior estimate of 3,800 to 4,100 gross bopd.
The company also said it has started drilling the Etame 11H horizontal development well with production expected to start in late January. Meanwhile, separate work is underway to plan well workover programmes on the existing Etame 10H and SE Etame P wells.
Cary Bounds, the CEO, said, “We are very excited with the continued success that we have had in the 2019/2020 drilling programme thus far as we demonstrate the development potential from the Etame field.
“The very strong stabilised net rate of 1,500 bopd from the Etame 9H well is a significant first step toward increasing overall production by approximately 25 per cent in 2020 compared to 2019. We are executing on our strategic plan, building positive momentum into 2020 and remain focused on maintaining our record of operational success,” Bounds added.
