Vaalco Energy

In 1985, founders Virgil A. Walston and Charles Alcorn established VAALCO Energy in Texas as an independent energy company. The company's trajectory was defined a decade later, in 1995, when it entered into a production sharing contract for the Etame Marin block offshore Gabon, a move that would become the cornerstone of its operations. By 2002, VAALCO had achieved its first oil production from the Etame field, establishing a significant revenue stream from West Africa. A pivotal moment in the company's journey was its initial public offering, listing on the New York Stock Exchange to fund its growth. The company's focus remained on developing its West African assets, steadily increasing production and reserves. A significant transformation occurred in 2022 when VAALCO completed a strategic business combination with TransGlobe Energy. This move was not just an acquisition; it was a fundamental reshaping of the company. The merger diversified VAALCO's portfolio, adding producing assets in Egypt and Canada to its core Gabonese operations. This event more than doubled the company's production and reserves, marking a new chapter for the Houston-based firm as a more resilient and geographically diverse energy producer.