VAALCO Energy, Inc. Announces Closing of Accretive All Cash Svenska Acquisition [Yahoo! Finance]
VAALCO Energy, Inc. (EGY)
US:NYSE Investor Relations:
vaalco.com/about-us/governance
Company Research
Source: Yahoo! Finance
closed the acquisition of Svenska Petroleum Exploration AB (“ Svenska ”), an exploration and production (“ E&P ”) company based in Stockholm, Sweden (the “ Acquisition ”). As previously disclosed, Svenska's primary asset is a 27.39% non-operated working interest in the deepwater producing Baobab field in Block CI-40, offshore Cote d'Ivoire in West Africa. Net purchase price of $40.2 million was fully funded by cash on hand with no issuance of debt or equity. Transaction Highlights: Immediately accretive to shareholders on key metrics: Following the planned shutdown for maintenance in April, the Baobab field is back on production with a current rate in excess of 5,000 VAALCO working interest (“ WI ”) barrels of oil equivalent per day (“ BOEPD ”) (99% oil); Includes estimated 1P WI CPR reserves as of October 1, 2023, of 13.0 million barrels of oil equivalent (“ MMBOE ”) (99% oil) and total 2P WI CPR reserves at October 1, 2023, of 21.7 million MMBOE (97% oil); and Strategicall
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EGY
Earnings
- 5/7/24 - Beat
EGY
Sec Filings
- 5/8/24 - Form 10-Q
- 5/7/24 - Form 8-K
- 5/7/24 - Form 8-K
- EGY's page on the SEC website