VAALCO Energy Inc - Company Profile
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Business Description
VAALCO Energy Inc (VAALCO) is primarily engaged in the exploration and production of hydrocarbons. The company acquires, develops and explores natural resources which are capable of producing crude oil. It operates through five geographic segments: Gabon, Egypt, Canada, Equatorial Guinea and Cote d'Ivoire. In FY2024, the company incurred a capital expenditure of US$109.4 million which accounted for 22.8% of the company's total revenue and grew 50.7% YoY.
Business Segments
Geographical Segments
Overview
Operates in Harmattan, approximately 80km north of Calgary, Alberta. The property covers 46,100 gross acres of developed land and 29,300 gross acres of undeveloped land. Also owns a 100% working interest in a large oil battery and a compressor station, where it handles a major portion of its produced oil.
Performance
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Overview
Owns a non operating interest of 27.39% in he deepwater producing Baobab field in Block CI-40, located offshore Cote d’Ivoire in West Africa.
Performance
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Overview
Operates in Eastern Desert and Western Desert of Egypt. Eastern Desert contains merged concessions approximately 45,067 acres and Western Desert contains merged consession approximately 7,340 acres. Operates through a joint venture with Egyptian General Petroleum Corporation which owns both the consessions.
Performance
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Overview
Owns 31% working interests in an undeveloped portion of Block P in the offshore Equatorial Guinea, West Africa. This block is currently under development.
Performance
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Overview
Owns and operates Etame PSC, part of the Etame Marine Block offshore of Gabon. The company owns a working interest of 58.8% and is designated as the operator on behalf of the Etame Consortium. VAALCO is also a part of a consortium with BW Energy and Panoro Energy, which operates two blocks G12-13 and H12-13 are adjacent to its Etame PSC. It owns a working interest of 37.5%.
Performance
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