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Vaalco Energy well back in production after pump failure

Jan. 05, 2017 3:12 PM ETVAALCO Energy, Inc. (EGY) StockBy: Carl Surran, SA News Editor3 Comments
  • Vaalco Energy (NYSE:EGY +13.8%) surges after announcing the Avouma 2-H well offshore Gabon has returned to production after utilizing a hydraulic workover unit to replace a failed electric submersible pump.
  • EGY says the well is producing at a stabilized rate of 2,700 gross bbl/day of oil, or 730 bbl/day net to the company; with the addition of two recent workover wells, total company net production now averages 4,600 bbl/day.
  • EGY has endured problems with electrical submersible pumps in recent months, causing failures at the Avouma 2-H and South Tchibala 2-H wells.

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