VAALCO Energy is a company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Houston, Texas with operations primarily in the Etame Marin block offshore Gabon.
 | |
| Company type | Public company |
|---|---|
| NYSE: EGY Russell Microcap Index component | |
| Industry | Petroleum industry |
| Founded | 1985 |
| Headquarters | Houston, Texas, United States |
Key people | George W.M. Maxwell, CEO Andrew L. Fawthrop, Chairman Ron Bain, CFO |
| Products | Petroleum |
Production output | 2.6 thousand barrels of oil equivalent (16,000 GJ) per day (2021) |
| Revenue |  $199 million (2021) |
| $81 million (2021) | |
| Total assets | $263 million (2021) |
| Total equity | $144 million (2021) |
Number of employees | 117, including 80 in Gabon (2021) |
| Website | www |
| Footnotes / references [1] | |
As of December 31, 2021, the company had 11.218 million barrels of oil equivalent (68,630,000 GJ) of proved reserves, all of which was petroleum.[1]
The company’s primary source of revenue is from its 58.8% 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 45.9% working interest in an undeveloped portion of a block offshore Equatorial Guinea.[1]
History
editIn 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 November 2016, the company acquired an additional 3.23% participating interest (2.98% working interest) in the Etame Marin permit offshore Gabon.[4]
In December 2016, Cary Bounds was named chief executive officer of the company.[5][6]
References
edit- ^ a b c "VAALCO Energy, Inc. 2021 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- ^ "Vaalco sells interest in Etame Marin Permit". American City Business Journals. December 15, 2000.
- ^ "VAALCO Energy Acquires Working Interest Offshore Equatorial Guinea" (Press release). PR Newswire. November 1, 2012.
- ^ "VAALCO Energy Announces Closing of Acquisition of Additional Working Interest in the Etame Marin Permit Offshore Gabon" (Press release). GlobeNewswire. November 28, 2016.
- ^ "VAALCO Energy Announces the Appointment of Cary Bounds as Chief Executive Officer and Board Member and Closing of Hefley Lease Sale in North Texas" (Press release). GlobeNewswire. January 3, 2017.
- ^ "Interim tag removed from Vaalco CEO Bounds". Oil & Gas Journal. January 6, 2017.
External links
edit- Business data for VAALCO Energy, Inc.: