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Jun 30, 2021
VAALCO Q2 2021 Earnings Report
Reported strong results driven by increased sales volumes and higher prices.
Key Takeaways
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.
Reported Q2 2021 net income of $5.9 million ($0.10 per diluted share).
Generated Adjusted EBITDAX of $21.9 million in Q2 2021.
Sold 642,000 barrels of oil in Q2 2021, a 4% increase over Q1 2021.
Maintained a strong balance sheet with $22.9 million in cash and no debt as of June 30, 2021.
Forward Guidance
Third quarter 2021 production is expected to be 7,000 to 7,800 BOPD, which includes a planned seven-day full field maintenance turnaround.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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