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Vaalco Energy Inc on Tuesday said it has begun production at a development well in Ghana, and confirmed its role as operator of an Ivory Coast field. The Texas-based energy company has completed its Etame 15H-ST development well in Gabon, yielding a stabilised flow rate of about 2,000 barrels of oil per day with a 38% water cut, which Vaalco said was in line with expectations. The company is now managing the well to stabilise pressure in the reservoir. It estimated a 57% chance of geologic success for another exploration site to the west, where it expects drilling to reach the target zone by mid-March. If successful, ‘the exploration prospect would add meaningful production and reserves to Vaalco’s 2026 year-end’, the company said. In the Ivory Coast, Vaalco has been confirmed as operator, with 60% working interest, of the Kossipo field, a site southwest of its Baobab offshore field. It aims to complete a development plan for Kossipo in the latter part of this year. The company says new ocean bottom data are driving and derisking its updated evaluation and development plan, with estimated resources of up to 293 million barrels of oil equivalent in place. Vaalco also said the Baoban Ivorien floating production storage vessel is expected to return to its Ivorien offshore site from Africa’s east coast by late March. Chief Executive Officer George Maxwell said: ‘We have begun 2026 with some very meaningful events that are positioning Vaalco to deliver expected 225% organic production growth by 2030...With the Baobab floating production storage and offloading vessel on track to return to the field and commence production in Q2 2026, coupled with the Gabon drilling campaign, we are looking to drive meaningful growth that we believe will translate into value for our shareholders in 2026 and beyond.’ Vaalco shares were up 5.6% to 375.00 pence each on Tuesday morning in London. The stock was up 0.1% to $5.09 pre-market in New York. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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