VAALCO Earnings Reports

VAALCO Energy reported a strong third quarter in 2024, marked by increased net revenue, driven by additional sales volumes from Côte d'Ivoire, and a significant reduction in production expense per BOE. The company continues to focus on organic growth and shareholder returns through its dividend policy.

VAALCO Energy reported a strong second quarter in 2024, marked by increased net income and adjusted EBITDAX, driven by the Côte d'Ivoire acquisition and solid results from the Canadian drilling program. The company closed the Côte d'Ivoire transaction, recognized a non-cash bargain purchase gain, and focused on preparing for major projects to deliver organic growth in 2025.

VAALCO Energy, Inc. reported a net income of $7.7 million for Q1 2024. The company finalized agreements in Equatorial Guinea, proceeded with the FEED study, and closed the Svenska acquisition ahead of schedule for $40.2 million.

VAALCO Energy reported strong Q4 2023 financial results, with net income of $44.0 million and record Adjusted EBITDAX of $95.9 million. Production reached 18,065 NRI BOEPD, and sales volumes were at the high end of guidance.

VAALCO Energy, Inc. announced a net income of $6.1 million for Q3 2023 and an Adjusted EBITDAX increase of 9% to $71.4 million compared to Q2 2023. The company's cash position grew to over $100 million, supporting future capital programs and shareholder returns.

VAALCO Energy reported a net income of $6.8 million for Q2 2023, driven by higher sales volumes. Production grew by 7% to nearly 20,000 net BOEPD. The company raised its full-year production guidance by 7% and lowered its full-year capex guidance.

VAALCO Energy, Inc. reported a net income of $3.5 million ($0.03 per diluted share) for Q1 2023. The company achieved a 27% increase in daily production compared to Q4 2022. VAALCO is progressing with the Venus development in Equatorial Guinea and finalized multiple substantive documents with partners and the Ministry of Mines & Hydrocarbons.

VAALCO Energy, Inc. reported a net income of $17.8 million for Q4 2022. The company's Adjusted EBITDAX totaled $49.8 million, more than double the amount from the same period in 2021. The increase was primarily due to higher sales volumes, partially offset by lower realized prices.

VAALCO Energy reported Q3 2022 net income of $6.9 million, or $0.11 per diluted share, adjusted net income of $33.3 million, or $0.56 per diluted share and Adjusted EBITDAX of $42.4 million. The company maintained solid Q3 2022 average daily production of 9,157 net revenue interest barrels of crude oil per day and increased unrestricted cash balance to $69.3 million with no debt.

VAALCO Energy, Inc. reported a strong second quarter in 2022, marked by a 157% increase in net income to $15.1 million, or $0.25 per diluted share, compared to Q2 2021. Adjusted EBITDAX increased by 81% quarter-over-quarter to $60.8 million, driven by strong pricing and increased sales volumes. The company also maintained a strong balance sheet with no debt and an unrestricted cash balance of $53.1 million.

VAALCO Energy reported strong Q1 2022 results, including a net income of $12.2 million, driven by increased production and higher realized pricing. The company is progressing with its drilling campaign and FSO conversion, and remains focused on maximizing shareholder returns.

VAALCO Energy, Inc. reported strong Q4 2021 net income of $34.4 million, or $0.58 per diluted share, driven by solid sales, higher realized pricing, and a $16.1 million non-cash deferred tax benefit. The company sold 709,000 barrels of oil and produced 7,554 net revenue interest barrels of crude oil per day.

VAALCO Energy, Inc. reported strong Q3 2021 results with a net income of $31.7 million, or $0.53 per diluted share. The company benefited from increased sales, higher realized pricing, and a $22.7 million non-cash deferred tax benefit. VAALCO also announced a quarterly cash dividend policy commencing in the first quarter of 2022.

VAALCO Energy, Inc. reported strong second quarter 2021 results with a net income of $5.9 million, driven by sales volumes above guidance, NRI production of over 8,000 BOPD, and robust commodity pricing. The company generated $40.0 million in Adjusted EBITDAX in the first half of 2021, exceeding the amounts generated in all of 2019 or 2020.

VAALCO Energy, Inc. reported a strong first quarter in 2021, marked by a net income of $9.9 million, or $0.17 per diluted share. The company benefited from increased sales volumes and improved realized prices, driven by three liftings during the quarter and the acquisition of Sasol's working interest in the Etame field. Adjusted EBITDAX reached $18.0 million, more than five times the previous quarter.

VAALCO Energy reported a net loss of $3.6 million for Q4 2020, impacted by exploration expenses and a delayed lifting, though production increased due to new development wells. The company closed the Sasol acquisition, nearly doubling net production and reserves, and is planning a new drilling campaign.

VAALCO Energy, Inc. reported a net income of $7.6 million, or $0.13 per diluted share, for the third quarter of 2020. The company maintained a strong balance sheet with a cash balance of $42.0 million and no debt.

VAALCO Energy, Inc. reported a net income of $0.6 million, driven by increased production and sales volumes, which offset the impact of lower realized crude oil prices. The company maintained a strong balance sheet with a cash balance of $44.8 million and no debt.

VAALCO Energy, Inc. reported a net loss of $52.8 million for Q1 2020, which included non-cash charges of $59.7 million due to the decrease in oil prices. However, the company increased production by 35% compared to Q4 2019 and maintained a strong balance sheet with $61.0 million in cash and no debt.

VAALCO Energy, Inc. reported net income of $1.0 million, or $0.02 per diluted share, for the fourth quarter of 2019. The company successfully drilled and brought the Etame 9H and Etame 11H wells on production at higher-than-expected initial flow rates in December 2019 and January 2020, respectively. They also reported unrestricted cash balance of $45.9 million as of December 31, 2019.