VAALCO Energy beats top-line and bottom-line estimates; initiates Q1 and FY24 outlook [Seeking Alpha]
VAALCO Energy, Inc. (EGY)
US:NYSE Investor Relations:
vaalco.com/about-us/governance
Company Research
Source: Seeking Alpha
Generated record Adjusted EBITDAX of $95.9 million. NRI sales volumes of 1,994,000 BOE was higher than Q3 2023 and rose 45% compared to 1,371,000 BOE for Q4 2022. Produced 18,065 NRI BOEPD (23,330 WI BOEPD). Sold 21,674 BOEPD in Q4 2023, at the high end of guidance. At the end of the fourth quarter of 2023, VAALCO had an unrestricted cash balance of $121.0 million. 2024 Key Items and Outlook: Announced accretive all cash acquisition with sales and purchase agreement ("SPA") to acquire Svenska Petroleum Exploration AB ("Svenska"); Currently producing approximately 4,500 BOEPD (99% oil); Includes estimated 1P WI CPR reserves4 as of October 1, 2023, of 13.0 MMBOE (99% oil) and total 2P WI CPR4 reserves at October 1, 2023, of 21.7 million MMBOE (97% oil); Planning a 2024 capital budget of $70 to $90 million; and Target to return over $25 million of FCF to shareholders. More on VAALCO Energy Recommended For You More Trending News Recommended For You More Trendi
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News
- 3 International Upstream Stocks Resilient to Industry Uncertainties [Yahoo! Finance]Yahoo! Finance
- VAALCO's (EGY) Q1 Earnings Preview: Things to Consider [Yahoo! Finance]Yahoo! Finance
- VAALCO Energy, Inc. Announces Closing of Accretive All Cash Svenska Acquisition [Yahoo! Finance]Yahoo! Finance
- VAALCO Energy, Inc. Announces Closing of Accretive All Cash Svenska AcquisitionGlobeNewswire
- VAALCO Energy, Inc. Announces Publication Of 2023 Sustainability Report [Yahoo! Finance]Yahoo! Finance
EGY
Earnings
- 3/13/24 - Beat
EGY
Sec Filings
- 4/30/24 - Form 8-K
- 4/26/24 - Form ARS
- 4/26/24 - Form DEFA14A
- EGY's page on the SEC website