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Sep 30, 2024
VAALCO Q3 2024 Earnings Report
Reported strong operational and financial results, driven by increased sales volumes from Côte d'Ivoire and improved production efficiency.
Key Takeaways
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.
Grew net revenue interest sales to 2,134,000 BOE, a 20% increase from Q2 2024.
Reported Q3 2024 net income of $11.0 million ($0.10 per diluted share).
Increased Adjusted EBITDAX by 28% to $92.8 million compared to Q2 2024.
Decreased production expense per BOE by 33% quarter-over-quarter to $19.80 per BOE.
Revenue by Geographic Location
Forward Guidance
The Company expects fourth quarter 2024 NRI sales to be between 18,600 and 20,800 BOEPD.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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