VAALCO hedges to preserve cash for Gabon drilling programme

摘要

VAALCO Energy has decided to hedge some production for the next year in order to ensure funding for its upcoming drill-ing programme in the Etame Marin acreage off Gabon. The US independent is hedging around 710,000 bbl of pro-duction from its 9,300 b/d at a Brent price of just over US $53 per bbl. This is “excluding volumes attributable to acquiring Sasol’s interest in the Etame feld, to protect cash fows which will be used to fund the 2021/2022 drilling programme. The company will review its hedging positions following the closing of the Sasol acquisition which it expects will oc-cur in February.”