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Stock impact report

VAALCO Energy, Inc. Announces First Quarter 2024 Results

VAALCO Energy, Inc. (EGY) 
US:NYSE Investor Relations: vaalco.com/about-us/governance
Company Research Source: GlobeNewswire
HOUSTON, May 07, 2024 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY, LSE: EGY) ("VAALCO" or the "Company") today reported operational and financial results for the first quarter of 2024.  First Quarter 2024 Highlights and Recent Key Items: Closed the accretive all cash acquisition of Svenska Petroleum Exploration AB (“Svenska”) for a net purchase price of $40.2 million; 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”)(1) barrels of oil equivalent per day (“BOEPD”) (99% oil);Strategically expands West African focus area with a sizeable producing asset that has significant upside potential and future development opportunities in Cote d’Ivoire, a well-established and investment-friendly country; Reported Q1 2024 net income of $7.7 million ($0.07 per diluted share) and Adjusted Net Income(2) of $6.5 million ($0.06 per diluted share);Delivered strong Adjusted EBITDA Show less Read more
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