VAALCO to Plug ET-14P, Drill ET-14H Development Well by April
VAALCO Energy completed the ET-14P exploration well at Etame and encountered 10 meters of high-quality Gamba sands but only water in the target zone. The company will plug and abandon the lower wellbore and drill the ET-14H development sidetrack toward proven hydrocarbons, pending partner approval and targeting completion in April.
1. ET-14P Exploration Outcome
VAALCO Energy finished drilling its ET-14P exploration well offshore Gabon as part of the Phase Three program, encountering approximately 10 meters of high-quality Gamba sands that matched pre-drill expectations but yielded water instead of hydrocarbons.
2. Plugging and ET-14H Development Plan
With the target zone water-bearing, the company will plug and abandon the lower section of ET-14P and re-enter the same wellbore to drill the ET-14H sidetrack development well toward proven productive blocks of the Etame field.
3. Approval and Timeline
The ET-14H sidetrack plan awaits partner approval, with drilling operations designed to leverage the existing wellbore and anticipated to conclude by April, minimizing additional drilling costs.
4. Strategic Implications
Management had foreseen the exploration risk and pre-engineered the well for a sidetrack, aiming to preserve capital and accelerate access to known hydrocarbon zones despite the ET-14P setback.