VAALCO is planning for the commencement of the next drilling campaign at Etame in late 2021 or early 2022. The locations of the wells will be determined in conjunction with the new seismic processing and interpretation, and VAALCO is currently planning for a four-well program with two development wells and two appraisal wells. Preliminary production uplift estimates for the drilling campaign are between 7,000 and 8,000 gross BOPD of peak production from the four wells. The estimated cost of the program is $115 million to $125 million gross, or $73 million to $79 million, net to VAALCO’s 63.6% participating interest.
Source: VAALCO
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