Loading...
•
Sep 30, 2020
VAALCO Q3 2020 Earnings Report
VAALCO reported net income and maintained a strong balance sheet with no debt.
Key Takeaways
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.
Achieved strong production performance of 4,405 net revenue interest barrels of crude oil per day in Q3 2020.
Successfully resumed production following completion of the planned full field annual maintenance shutdown at Etame in September.
Sold 412,000 barrels of oil in Q3 2020, compared to 279,000 barrels in Q3 2019.
Decreased per-unit production expense, excluding workovers, by 35% in Q3 2020 vs Q3 2019.
Forward Guidance
For the fourth quarter 2020 forecasted NRI production and sales are expected to be between 4,600 and 5,000 BOPD. Production and sales NRI volumes for full year 2020 are expected to be at an average of 4,800 to 4,900 BOPD.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...