🇬🇦GabonCentral Africa
Vaalco Energy's revived production in Gabon supports group growth prospects for 2026
via Gabon Review5 min read
Vaalco Energy, the American oil group, announced a net loss of 93.8 million dollars in the first quarter of 2026. Despite this financial setback, the company highlighted its performance in Gabon, where two new wells have begun production in the offshore Etame field. CEO George Maxwell stated that these results strengthen the group's production growth outlook for the remainder of the year. Vaalco Energy confirmed the successful start-up of two new offshore development wells in Gabon as part of the third phase of its drilling program on the Etame permit. The Etame 15H well, which began production in February 2026, has an initial flow rate of 2,000 gross barrels per day, while the Etame 14H well, which started in April, produces approximately 4,850 gross barrels daily. The company noted that the Etame 14H well encountered 325 meters of net pay in high-quality Gamba sands. Following this, the drilling campaign continued with the launch of the EEBOM-5H well on the Ebouri platform, also offshore Gabon. Additional drilling and maintenance operations are planned to increase the field's production and reserves. George Maxwell described the Gabonese drilling campaign as a "positive start," with the performance of the ET-15H and ET-14H wells contributing to a slight increase in production in the first quarter of 2026, with a more significant impact expected in the second quarter. He anticipates two optimized cargoes from Gabon in the second quarter, in a more favorable price environment
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