VAALCO Energy, Inc. Provides Unaudited Production Results for the Fourth Quarter and Full Year Ended December 31, 2023
March 14, 2024 at 03:00 am EDT
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VAALCO Energy, Inc. provided unaudited production results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, Total WI Crude oil, natural gas and natural gas liquids production was 2,146 MBOE compared to 1,680 MBOE a year ago. Average WI daily production volumes was 23,330 BOEPD compared to 18,262 BOEPD a year ago. Total NRI Crude oil, natural gas and natural gas liquids production was 1,662 MBOE compared to 1,324 MBOE a year ago. Average NRI daily production volumes was 18,065 BOEPD compared to 14,390 BOEPD a year ago.
For the full year, Total WI Crude oil, natural gas and natural gas liquids production was 8,740 MBOE compared to 4,445 MBOE a year ago. Average WI daily production volumes was 23,946 BOEPD compared to 12,177 BOEPD a year ago. Total NRI Crude oil, natural gas and natural gas liquids production was 6,829 MBOE compared to 3,729 MBOE a year ago. Average NRI daily production volumes was 18,710 BOEPD compared to 10,217 BOEPD a year ago.
VAALCO Energy, Inc. is an independent energy company principally engaged in the acquisition, exploration, development and production of crude oil, natural gas and natural gas liquids. The Companyâs segments include segments Gabon and Equatorial Guinea. It holds 58.8% participating interest in the Etame Marin block, located offshore Gabon in West Africa. The Etame Marin block covers an area of approximately 46,200 gross acres located 20 miles offshore in water depths of approximately 250 feet. The operations of all segments include exploration for and production of hydrocarbons where commercial reserves have been found and developed. The Company owns an interest in an undeveloped block offshore Equatorial Guinea, West Africa. The Company conducts its operating activities in Egypt, Canada, and offshore Gabon. In Egypt, its interests are spread across two regions: the Eastern Desert, which contains the West Gharib, West Bakr and Northwest Gharib merged concessions, and the Western Desert.