Vaalco Energy (EGY) has released an update.
Vaalco Energy Inc. has reported the successful drilling and commencement of production of four new oil wells in Canada, with three wells producing about 500 barrels per day and one at 350 barrels before a regulatory shutdown. The company has demonstrated its operational efficiency by completing the wells on budget and on schedule, despite difficult weather conditions. Vaalco is also planning to drill an appraisal well in the third quarter of 2024 to potentially expand its development program in the region.
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