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VAALCO Energy

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VAALCO Energy, Inc.
9800 Richmond, Suite 700
Houston, Texas 77042

Tel: 713 623 0801

Description

VAALCO Energy, Inc. is a Houston, Texas based independent energy company principally engaged in the acquisition, exploration, development and production of crude oil and natural gas. VAALCO’s strategy is to increase reserves and production through the exploration and operation of oil and gas properties, with a focus on international opportunities.

The Company’s properties and exploration activities are located in Gabon and Angola, West Africa. VAALCO’s stock is traded on the New York Stock Exchange under the symbol “EGY”.

VAALCO Energy, Inc.’s focus is on the existing West Africa asset base and acreage positions. The company's growth strategy is to fully exploit the potential and expand their West Africa footprint.

Production

The Company produced an average of 13,560 BOPD gross, (3,664 BOPD net to VAALCO) in the fourth quarter of 2019. In the full year 2019, the Company produced an average of 12,863 BOPD gross, (3,476 BOPD net to VAALCO). The Company’s 2019 net exit production rate was approximately 4,800 BOPD, which included the benefit of the Etame 9H and Etame 4H wells coming online in December, but not production from the Etame 11H well which came online in early 2020.

VAALCO’s proved SEC reserves at December 31, 2019 were 5.0 NRI MMBO proved developed reserves. The proved developed reserves are 5.7 MMBO on a WI basis.

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