Vaalco Energy

EGY

VAALCO Energy is a company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Houston, Texas with operations primarily in the Etame Marin block offshore Gabon. As of December 31, 2019, the company had 4,966 million barrels of oil equivalent (3.038×1010 GJ) of proved reserves, all of which was petroleum.The company’s primary source of revenue is from its 31.1% interest, via a production sharing contract, in operations in the 750,000 acre (3,000 km²) Etame Marin block, offshore Gabon. The company also owns a 31% working interest in an undeveloped portion of a block offshore Equatorial Guinea.

Vaalco Energy has been a target of short sellers for a while. The current short interest of 7.78% is significantly above the average of the last 12 months (4.70%).