Ancora Holdings Builds $200M Stake in Warner Bros Discovery, Targets Netflix Asset Sale Plan 
U.S. Judge Allows Jeffrey Epstein Sex Trafficking Lawsuit Against Bank of America to Proceed 
Samsung Electronics Sees Sustained AI-Driven Demand for Memory Chips Into Next Year 
xAI Co-Founder Jimmy Ba Departs as Elon Musk’s AI Startup Faces Turbulence 
ANZ Shares Hit Record High After Strong Q1 Profit and Cost-Cutting Gains 
Spirit Airlines Seeks Court Approval to Auction 20 Airbus A320/A321 Aircraft Amid Bankruptcy 
How Marco Pharma International Preserves German Homeopathic Traditions in America 
CBA Shares Surge After Record Half-Year Profit as Rate Outlook Improves 
FDA Rejects Review of Moderna’s Flu Vaccine Application, Shares Slide 
Petrobras Posts Record Oil Exports as Production Surge Fuels Global Expansion 
U.S. Commerce Department Reaches $252 Million Settlement With Applied Materials Over China Exports 
FTC Questions Apple News Over Alleged Bias Against Conservative Media 
More U.S. Investors Join Arbitration Against South Korea Over Coupang Dispute 
SMIC Shares Slide Despite Strong AI-Driven Earnings as Margin Pressure Looms 
Gates Foundation Denies Financial Ties to Jeffrey Epstein Following DOJ Email Release 
AST SpaceMobile Joins MSCI ACWI Index as Largest New Addition, Boosting Market Visibility 
Instagram CEO Defends Platform in Youth Mental Health Lawsuit Over Social Media Addiction Claims 
HOUSTON, Dec. 28, 2017 -- VAALCO Energy, Inc. (NYSE:EGY) today provided an operational update regarding its production operations offshore Gabon.
On December 24, the electrical submersible pump (ESP) in the South Tchibala 1-HB well failed, and the well has been temporarily shut-in. The well was producing approximately 930 barrels of oil per day gross, or 250 net to the Company, prior to being shut-in. Total Company production is currently averaging approximately 3,800 net barrels of oil per day following this recent ESP failure.
Cary Bounds, Chief Executive Officer commented, “While ESPs are utilized in all of our platform wells, the series of ESP failures we have recently experienced have been limited to the Avouma platform. We are focused on determining the root cause of the problems we have encountered on this platform and developing a long-term solution to minimize future failures. We are reviewing a variety of potential factors that could have contributed to the failures before we conduct future workovers on this well and the Avouma 2-H and I remain confident we will have both of these wells back on production by the end of the first quarter of 2018.”
About VAALCO
VAALCO Energy, Inc. is a Houston-based independent energy company principally engaged in the acquisition, development and production of crude oil. The Company's properties and acreage are located primarily in Gabon and Equatorial Guinea in West Africa.
Investor Contact
Phil Patman 713-623-0801
