VAALCO Energy Completes Avouma Well Development


VAALCO Energy, Inc. ( EGY ) has completed the new development well (EAVOM-3H) in the Avouma field. Production from this well commenced at a natural flow rate of approximately 3,000 gross barrels of oil per day (BOPD), rising to 4,000 gross BOPD once the Electrical Submersible Pumps were engaged at the minimum setting.

The company will determine the optimal production rate for the well in the coming weeks.

EGY rose to $6.52 by 2% in the after-hours market. It touched 52-week low $6.37 yesterday.

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This article appears in: Investing , Commodities

Referenced Stocks: EGY

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