Printer Friendly

VAALCO ANNOUNCES ANNUAL MANAGEMENT COMMITTEE MEETING FOR PHILIPPINE CONSORTIUM

 HOUSTON, July 23 /PRNewswire/ -- VAALCO Energy, Inc. (NASDAQ: VEIX), today announced that the annual management committee meeting for its offshore Palawan, Philippines, operation will be held in Houston, Oct. 6-8.
 VAALCO, as operator for the West Linapacan oil field, will propose the following work program for consortium approval at the October meeting:
 -- Sidetrack the A-2 well
 -- Re-enter the A-3 sidetrack
 -- Re-enter the B-1X well and drill deeper to prove the extent of the hydrocarbon column
 The A-2, which is currently producing 2,215 barrels of oil per day with 49 percent water cut, will be sidetracked with the objective of completing in a water-free fault block.
 The A-3 sidetrack, completed in early June 1993, is currently producing 4,000 barrels of oil per day with water at approximately 34 percent. The A-3 sidetrack was put on production June 8, 1993, at 5,750 barrels of oil per day with 14 percent water. Due to seasonal weather conditions in the Philippines, moving a rig onto the well to perform diagnostics to determine the source of the water must be delayed until late 1993 or early 1994. Total daily production for the West Linapacan field is currently approximately 10,000 barrels of oil per day.
 The West Linapacan B-1X well will be re-entered and drilled to a projected depth of 9,200 feet to further test for oil in the Linapacan limestone formation. The West Linapacan "B" structure was drilled to a depth of 8,162 feet and tested 2,840 barrels of oil and 6.5 million cubic feet of gas per day prior to temporary plug and abandon in late April 1993.
 VAALCO secured approval for the proposed work program from its board of directors at a meeting on July 14, 1993.
 -0- 7/23/93
 /CONTACT: VAALCO public relations, 713-623-0801/
 (VEIX)


CO: VAALCO Energy, Inc. ST: Texas IN: OIL SU:

GK-WB -- NY064 -- 5243 07/23/93 15:01 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 23, 1993
Words:320
Previous Article:EMPAQUES PONDEROSA, S.A. REPORTS IMPROVED FIRST SEMESTER 1993 RESULTS
Next Article:THOR ENTERS FAST-GROWING FOLDING CAMPING TRAILER MARKET
Topics:


Related Articles
VAALCO ENERGY INC. WEST LINAPACAN A-1 WELL UPDATE
VAALCO SPUDS EXPLORATION WELL IN THE PHILIPPINES
VAALCO REPORTS THIRD QUARTER EARNINGS
VAALCO AND PARTNERS AWARDED BLOCK IN INDIA
OFFICIALS OF VAALCO ENERGY MEET WITH PHILIPPINE PRESIDENT RAMOS
VAALCO ANNOUNCES PLANS TO DRILL NEW WELL
VAALCO ENERGY ANNOUNCES BOOKING OF 4.4 MILLION BARRELS NEW PROVEN RESERVES BASED ON DEVELOPMENT OF THE PY-3 FIELD LOCATED OFFSHORE INDIA
VAALCO Announces Farmout Agreement
VAALCO Energy Awards FPSO Contract.
VAALCO Energy Announces Five-Year Contract Extension in Gabon.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters