Houston – October 12, 2026 -- VAALCO Energy (NYSE: EGY, LSE: EGY) has brought the Ebouri-5H development well online offshore Gabon at an initial rate above 8,000 gross barrels of oil per day (BOPD), or 4,700 BOPD net to the company, with very low water cut.
Ebouri-5H hits 300 meters of net pay in Gamba sands
The well was drilled at the top of the Ebouri structure with a 300-meter lateral of net pay in high-quality Gamba sands. VAALCO completed the well and placed it on production as part of its ongoing Gabon drilling campaign.
Rig moves to SEENT platform for two development wells
The rig has been mobilized to the SEENT platform, where VAALCO plans to drill two development wells. The first, ETBNM-3, is planned as a directionally drilled slant well adjacent to the GMF-1X discovery well. It targets gas and condensate resources in the Dentale D15 reservoir from the crest of the North Tchibala structure.
If successful, gas from the well would be used for field operations. VAALCO says this would significantly reduce spending on higher-priced diesel, which is currently shipped to the field by vessel.
Egypt's HE-9 well flows 529 BOPD, above predrill expectations
In Egypt, VAALCO drilled, completed and placed on production the HE-9 development well in early June. It is the first well in the 2026 onshore drilling program. The well encountered 26 meters of net pay in the Asl B reservoir and delivered an initial rate of 529 gross BOPD, above the company's predrill expectations.
VAALCO is drilling additional wells in Egypt in 2026 after the 2025 campaign, which CEO George Maxwell said delivered captured efficiencies and accelerated technical subsurface evaluation.
Management cites Baobab restart and expects profitable 2026
Maxwell said the Baobab field has been successfully restarted. He said the company believes the remainder of 2026 will be profitable and that its organic capital programs will deliver shareholder value. He added that the goal for the rest of the Gabon campaign is to keep adding production and reserves.