BW Energy  has announced the resumption of a three-well drilling campaign on the Dussafu license offshore Gabon consisting of two exploration wells in the Hibiscus area and one production well on the Tortue field. The Borr Norve jack-up rig has been contracted for the campaign. The current campaign will start with the Hibiscus Extension appraisal well (DHIBM-2) which is located about 56 km […]

Maersk Drilling has been awarded a one-well contract from PC Gabon Upstream S.A. (PCGUSA), a subsidiary of PETRONAS, for the provision of a deepwater drillship rig. The 7th generation drillship Maersk Viking will be employed to drill an ultra-deepwater exploration well at approximately 2,100 m water depth in Block F13 offshore Gabon. PETRONAS is a […]

VAALCO Energy has announced that its Board of Directors has named George Maxwell as Chief Executive Officer effective April 12, 2021. Mr. Maxwell, who has been a Non-Executive Director of the Company since June 2020 and resides in the U.K., will continue to serve as a member of the Board. Cary Bounds who has served […]

Sasol said it has completed the divestment of the 27.75% non-operated interest in the Etame Marine Permit (EMP) to VAALCO Gabon S.A. (VAALCO) on 25 February 2021 after completion of all legal and regulatory closing conditions. Subsequent to concluding the Sale and Purchase Agreement with VAALCO in November 2020 to divest both the EMP and […]

VAALCO Energy   has announced that it has now completed the previously announced acquisition of Sasol Gabon S.A.’s (“Sasol”) 27.8% working interest(1) in the Etame Marin block offshore Gabon, increasing the Company’s total working interest to 58.8%. Key Highlights Nearly doubles VAALCO’s total net production and reserves; Expected to be immediately accretive to VAALCO, with minimal additional […]

Gabon has created 20 task forces to implement priority reforms of its Transformation Acceleration Plan (2021-2023), we learn from a decree by Prime Minister Rose Christiane Ossouka Raponda, signed on February 17. This text names the 20 project managers of these structures; Gabonese news source reports. “The appointments of project managers are distributed according to the […]

BW Energy has announced that the EBITDA for the fourth quarter of 2020 was USD 28.3 million, up from USD 22.2 million in the third quarter. Dussafu production averaged approximately 13,500 barrels of oil per day from four wells, amounting to a total gross production of  1.24 million barrels of oil in the quarter. Two […]

VAALCO Energy, Inc .has announced that it has entered into crude oil commodity swap agreements for a total of 709,262 barrels at a Dated Brent weighted average price of $53.10 per barrel for the period from and including February 2021 through January 2022.  These swaps will settle on a monthly basis.  The Company is hedging […]

BW Energy has announced an update on the operation and development of the Dussafu Marin license in Gabon. The Gross production from the Tortue field averaged approximately 13,500 barrels of oil per day in the fourth quarter of 2020, amounting to a total gross production of 1.24 million barrels of oil for the period. BW Adolo had scheduled downtime […]

VAALCO Energy has announced  that sequel to  its former position on the  acquisition from Sasol Gabon S.A. (“Sasol”) of Sasol’s 27.8% working interest(1) in the Etame Marin block offshore Gabon, the other joint owners in the Etame Marin block have not exercised their pre-emptive rights. As a result, VAALCO will now move forward with acquiring Sasol’s […]