VAALCO Energy Announces Positive Updates On Svenska Acquisition, Increasing Proved Reserves To 16.9 MMBOE
Portfolio Pulse from Benzinga Newsdesk
VAALCO Energy announced positive updates on its Svenska acquisition, increasing its proved reserves to 16.9 MMBOE as of December 31, 2023. The acquisition significantly expands VAALCO's assets in West Africa, particularly in Côte d'Ivoire, and offers substantial future development opportunities.
July 16, 2024 | 6:36 am
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VAALCO Energy's acquisition of Svenska has increased its proved reserves to 16.9 MMBOE, significantly enhancing its asset base in West Africa. This strategic move is expected to support future growth and development opportunities in Côte d'Ivoire.
The acquisition of Svenska has led to a substantial increase in VAALCO's proved reserves, which is a positive indicator for future growth and revenue potential. The strategic expansion in Côte d'Ivoire, a stable and investment-friendly country, further enhances the company's prospects.
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