VAALCO Initiates Phase Three Drilling Program Offshore Gabon
Written by Emily J. Thompson, Senior Investment Analyst
Source: Newsfilter
Updated: 1 day ago0mins
- Drilling Program Launch: VAALCO has successfully spudded the ET-15 well at the Etame platform, marking the commencement of its Phase Three Drilling Program, which is expected to generate near-term value for the company.
- Rig Availability: The drilling rig was secured in December 2024, ensuring smooth operations and enhancing production capacity while lowering operational costs.
- Future Growth Potential: Following the Etame platform, the company plans to move to the SEENT and Ebouri platforms, which are expected to add reserves and further boost production.
- Strategic Vision: With major projects underway in Gabon and Côte d'Ivoire, VAALCO anticipates significant growth over the coming years, thereby creating long-term value for shareholders.
EGY.N
$0.0000%Past 6 months
Line
|
Candle
1D
5D
1M
3M
6M
YTD
1Y
5Y
No Data
Powered By
Intellectia
Analyst Views on EGY
Wall Street analysts forecast EGY stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for EGY is 7.34 USD with a low forecast of 7.34 USD and a high forecast of 7.34 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 3.540
Low
7.34
Averages
7.34
High
7.34
Current: 3.540
Low
7.34
Averages
7.34
High
7.34
No Data
About EGY
VAALCO Energy, Inc. is an independent energy company with a diverse portfolio of production, development and exploration assets across Gabon, Egypt, Cote d’Ivoire, Equatorial Guinea, Nigeria and Canada. It is engaged in the acquisition, exploration, development and production of crude oil, natural gas and natural gas liquids. It owns a working interest in, and is the operator of, the Etame PSC related to the Etame Marin block located offshore Gabon in West Africa. The Etame Marin block covers an area of about 46,200 gross acres. The Company owns an interest in an undeveloped block offshore Equatorial Guinea, West Africa. In Egypt, its interests are spread across two regions: the Eastern Desert and the Western Desert. In Harmattan, Canada, it owns production and working interests in Cardium light oil and Mannville liquids-rich gas assets. It also owns a working interest in the Block CI-40 and CI-705 block offshore Cote d’Ivoire in West Africa.
About the author
Preview
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Sigh Up to Get Intellectia Insights
How did the company's recent strategic decisions impact its latest financial performance?
Can you explain the factors behind the recent changes in the company's stock price?
What are the expected impacts of current market trends on the company's future growth?
Based on the latest earnings report, what are the company's forecasted revenues for the next quarter?