Loading...
•
Dec 31, 2022
VAALCO Q4 2022 Earnings Report
VAALCO reported increased sales volumes due to the TransGlobe transaction and a bargain purchase gain on the acquisition, with adjusted EBITDAX more than doubling due to higher sales volumes partially offset by lower realized prices.
Key Takeaways
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.
Reported fourth quarter 2022 net income of $17.8 million ($0.17 per diluted share) and Adjusted Net Income of $19.2 million ($0.19 per diluted share).
Delivered fourth quarter 2022 production of 14,390 NRI BOEPD, or 18,262 WI BOEPD.
Sold 1,371,000 barrels of oil equivalent in fourth quarter of 2022.
Generated record Adjusted EBITDAX of $49.8 million in the fourth quarter of 2022.
Forward Guidance
VAALCO announced its 2023 operational and financial guidance, including a capital expenditure range of $70 to $90 million for the full year 2023.
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...