{"id":9525,"date":"2020-12-08T19:00:00","date_gmt":"2020-12-08T19:00:00","guid":{"rendered":"https:\/\/oilnewskenya.com\/?p=9525"},"modified":"2020-12-08T19:00:00","modified_gmt":"2020-12-08T19:00:00","slug":"vaalco-announces-completion-of-3-d-seismic-survey-data-acquisition-over-entire-etame-marin-block","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/vaalco-announces-completion-of-3-d-seismic-survey-data-acquisition-over-entire-etame-marin-block\/","title":{"rendered":"VAALCO Announces Completion of 3-D Seismic Survey Data Acquisition Over Entire Etame Marin Block"},"content":{"rendered":"<p align=\"justify\">VAALCO Energy has announced that the acquisition of three dimensional (3-D) seismic data at the Etame Marin block offshore Gabon has been completed.<\/p>\n<p align=\"justify\"><strong>Highlights<\/strong><\/p>\n<ul type=\"disc\">\n<li>Completed the acquisition of nearly 1,000 square kilometers of new dual-azimuth proprietary 3-D seismic data over the entire Etame Marin block which will be used to optimize and de-risk future drilling locations and potentially identify new drilling locations;<\/li>\n<li>Enhances sub-surface imaging by merging legacy data with newly acquired seismic allowing for the first continuous 3-D seismic over the entire block;<\/li>\n<li>Estimates the total costs of both the acquisition and processing of seismic data to be approximately $14 to $16 million gross over the period from Q4 2020 through Q4 2021 and VAALCO expects to fully fund its portion with cash on hand and cash from operations;<\/li>\n<li>Processing of the seismic data expected to begin in January 2021 with all data expected to be fully processed and analyzed by Q4 2021; and<\/li>\n<li>Planning for the commencement of the next drilling campaign at Etame in late 2021 or early 2022.<\/li>\n<\/ul>\n<p align=\"justify\">Cary Bounds, Chief Executive Officer, commented, \u201cWe are very pleased to have completed the acquisition of our new proprietary 3-D seismic survey over our entire Etame Marin Block. We will now proceed with the processing and analysis of the data that has been collected. Over the past 20 years, we have capitalized on the significant resource potential at Etame by increasing the ultimate recovery from the initial estimate of 30 million gross barrels of oil to 147 million gross barrels of oil on a 2P basis. Looking ahead, our new 3-D seismic survey is a vital tool in helping us unlock the remaining 116 million gross barrels of oil reserves and resources identified on the license. The new seismic data will help us to optimize every location that we plan to drill and potentially identify new locations to add to our drillable inventory. Additionally, our recent announcement of the acquisition of Sasol\u2019s interest at Etame combined with the new 3-D seismic survey underscore our confidence in the long-term potential at Etame.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>VAALCO Energy has announced that the acquisition of three dimensional (3-D) seismic data at the Etame Marin block offshore Gabon has been completed. Highlights Completed the acquisition of nearly 1,000 &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/vaalco-announces-completion-of-3-d-seismic-survey-data-acquisition-over-entire-etame-marin-block\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":9241,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7447,7442,11],"tags":[8531,944,2272,8731],"class_list":["post-9525","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-central-africa","category-countries","category-top-news","tag-etame-marin-block","tag-gabon","tag-seismic","tag-vaalco-energy","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/10\/GABON-ETAME.jpg?fit=376%2C485&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-2tD","jetpack-related-posts":[{"id":9240,"url":"https:\/\/www.oilnewskenya.com\/index.php\/gabon-vaalco-announces-new-3-d-seismic-survey-over-entire-etame-marin-block\/","url_meta":{"origin":9525,"position":0},"title":"GABON: VAALCO Announces New 3-D Seismic Survey Over Entire Etame Marin Block","author":"","date":"October 3, 2020","format":false,"excerpt":"VAALCO Energy has announced that in connection with planning for future drilling programs at the Etame Marin block offshore Gabon, it will begin acquiring and processing new three-dimensional (3-D) seismic data in the fourth quarter of 2020. Committed to acquiring new proprietary 3-D dual-azimuth seismic data over the entire Etame\u2026","rel":"","context":"In &quot;Central Africa&quot;","block_context":{"text":"Central Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/central-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/10\/GABON-ETAME.jpg?fit=376%2C485&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":9613,"url":"https:\/\/www.oilnewskenya.com\/index.php\/gabon-etame-marine-block-jv-partners-their-pre-emptive-rights\/","url_meta":{"origin":9525,"position":1},"title":"GABON: Etame Marine Block JV Partners Waive Their Pre-Emptive Rights","author":"","date":"January 3, 2021","format":false,"excerpt":"VAALCO Energy has announced that, in connection with VAALCO\u2019s previously announced acquisition from Sasol Gabon S.A.\u00a0 of Sasol\u2019s 27.8% working interest 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\u2026","rel":"","context":"In &quot;Central Africa&quot;","block_context":{"text":"Central Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/central-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/10\/GABON-ETAME.jpg?fit=376%2C485&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":9432,"url":"https:\/\/www.oilnewskenya.com\/index.php\/gabon-vaalco-acquires-additional-working-interest-at-etame-marin-block\/","url_meta":{"origin":9525,"position":2},"title":"GABON: VAALCO  Acquires Additional Working Interest at Etame Marin Block","author":"","date":"November 19, 2020","format":false,"excerpt":"Highlights \u2022 Acquiring an additional 27.8% working interest in the Etame Marin block offshore Gabon, increasing VAALCO\u2019s total working interest to 58.8%; \u2022 Nearly doubles VAALCO\u2019s total net production and reserves; \u2022 Increases net revenue interest (\u201cNRI\u201d) production from 4,850 to 9,150 barrels of oil per day (\u201cBOPD\u201d) based on\u2026","rel":"","context":"In &quot;Central Africa&quot;","block_context":{"text":"Central Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/central-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/10\/GABON-ETAME.jpg?fit=376%2C485&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":10012,"url":"https:\/\/www.oilnewskenya.com\/index.php\/vaalco-closes-the-acquisition-of-additional-interest-in-the-etame-field-from-sasol\/","url_meta":{"origin":9525,"position":3},"title":"GABON: VAALCO Closes the Acquisition of Additional Interest in the Etame Field From Sasol","author":"","date":"March 1, 2021","format":false,"excerpt":"Key Highlights Nearly doubles VAALCO\u2019s total net production and reserves; Expected to be immediately accretive to VAALCO, with minimal additional variable costs; Anticipated to materially increase free cash flow\u00a0in 2021 and beyond, particularly in the current increasing price environment; Paid $29.6 million in cash to Sasol, taking into account the\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/10\/GABON-ETAME.jpg?fit=376%2C485&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":12139,"url":"https:\/\/www.oilnewskenya.com\/index.php\/gabon-vaalco-energy-announces-successful-drilling-of-avouma-3h-st-development-well\/","url_meta":{"origin":9525,"position":4},"title":"GABON: VAALCO Energy Announces Successful Drilling of Avouma 3H-ST Development Well","author":"","date":"April 11, 2022","format":false,"excerpt":"VAALCO Energy has\u00a0announced the successful drilling of the Avouma 3H-ST development well that was drilled from the Avouma platform in the Etame field, offshore Gabon. Highlights Successfully drilled the Avouma 3H-ST development well with a lateral of 268 meters in high-quality Gamba sands at the top of the structure; Encountered\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10812,"url":"https:\/\/www.oilnewskenya.com\/index.php\/gabon-vaalco-announces-binding-loi-for-fso-at-etame\/","url_meta":{"origin":9525,"position":5},"title":"GABON: VAALCO Announces Binding LoI for FSO at Etame","author":"","date":"August 26, 2021","format":false,"excerpt":"VAALCO Energy has signed a binding letter of intent with World Carrier Offshore Services Corp.\u00a0 to provide and operate a Floating Storage and Offloading (FSO) unit at VAALCO\u2019s Etame Marin field offshore Gabon for up to eight years with additional option periods available upon the expiration of the current Floating\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/10\/GABON-ETAME.jpg?fit=376%2C485&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/9525","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=9525"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/9525\/revisions"}],"predecessor-version":[{"id":9526,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/9525\/revisions\/9526"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/9241"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=9525"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=9525"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=9525"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}