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.

VAALCO Energy, Inc.

Company type	Public company
Traded as	NYSE: EGY Russell Microcap Index component
Industry	Petroleum industry
Founded	1985; 40 years ago (1985)
Headquarters	Houston, Texas, United States
Key people	George W.M. Maxwell, CEO Andrew L. Fawthrop, Chairman Ron Bain, CFO
Products	Petroleum
Production output	2.6 thousand barrels of oil equivalent (16,000 GJ) per day (2021)
Revenue	$199 million (2021)
Net income	$81 million (2021)
Total assets	$263 million (2021)
Total equity	$144 million (2021)
Number of employees	117, including 80 in Gabon (2021)
Website	www.vaalco.com
Footnotes / references [1]

As of December 31, 2021, the company had 11.218 million barrels of oil equivalent (68,630,000 GJ) of proved reserves, all of which was petroleum.^[1]

The company’s primary source of revenue is from its 58.8% 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 45.9% 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]