Vaalco Energy

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VAALCO Energy, Inc.
Public company
Traded as NYSEEGY
Industry Petroleum industry
Founded 1985; 33 years ago (1985)
Headquarters Houston, Texas
Key people
Cary Bounds, CEO
Andrew L. Fawthrop, Chairman
Phil Patman, CFO
Products Petroleum
Production output
3,800 barrels of oil equivalent (23,000 GJ) per day (2017)
Revenue Increase $77 million (2017)
Increase $10 million (2017)
Total assets Decrease $79 million (2017)
Total equity Increase $10 million (2017)
Number of employees
102, including 75 in Gabon (2017)
Website www.vaalcoenergy.com
Footnotes / references
[1]

VAALCO Energy is a petroleum and natural gas exploration and production company organized in Delaware and headquartered in Houston, Texas with operations primarily in the Etame Marin block offshore Gabon.

Current operations[edit]

As of December 31, 2017, the company had 3.049 billion barrels of proved reserves, all of which was petroleum.[1]

The company’s primary source of revenue is from its 31.1% interest, via a production sharing contract, in operations in the 750,000 acre (3,000 km²) Etame Marin block, offshore Gabon. The company also owns a 31% working interest in an undeveloped portion of a block offshore Equatorial Guinea.[1]

History[edit]

In 2000, the company sold a 32.5% interest in the Etame Marin permit offshore Gabon to PanAfrican Energy Corp.[2]

In November 2012, the company acquired a 31% non-operating working interest in a production and development area offshore Equatorial Guinea from Petronas for $10 million.[3]

In October 2015, Don McCormack was named chief financial officer of the company.[4]

In November 2016, the company acquired an additional 3.23% participating interest (2.98% working interest) in the Etame Marin permit offshore Gabon.[5]

In December 2016, Cary Bounds was named chief executive officer of the company.[6][7]

In April 2017, Phil Patman was named chief financial officer of the company.[8]

References[edit]

External links[edit]