Vaalco Energy
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.
Type | Public company |
---|---|
NYSE: EGY Russell Microcap Index component | |
Industry | Petroleum industry |
Founded | 1985 |
Headquarters | Houston, Texas, United States |
Key people | Cary Bounds, CEO Andrew L. Fawthrop, Chairman Phil Patman, CFO |
Products | Petroleum |
Production output | 3,752 barrels of oil equivalent (22,950 GJ) per day (2019) |
Revenue | $84 million (2019) |
$2 million (2019) | |
Total assets | $211 million (2019) |
Total equity | $109 million (2019) |
Number of employees | 111, including 75 in Gabon (2019) |
Website | www |
Footnotes / references [1] |
As of December 31, 2019, the company had 4,966 million barrels of oil equivalent (3.038×1010 GJ) of proved reserves, all of which was petroleum.[1]
The company’s primary source of revenue is from its 31.1% 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 31% working interest in an undeveloped portion of a block offshore Equatorial Guinea.[1]
History
In 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
- "VAALCO Energy, Inc. 2019 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
- Business data for VAALCO Energy, Inc.: