VAALCO reports record FY 2024 Adj. EBITDAX $303M, Q4 net income $11.7M; reserves up 57%

VAALCO ENERGY INC /DE/

Record FY 2024 Adjusted EBITDAX of $303.0M; net income $58.5M ($0.56 diluted EPS).
Year-end 2024 SEC proved reserves up 57% to 45.0 MMBOE.
Q4 2024 net income $11.7M ($0.11 diluted EPS); production 20,775 NRI BOEPD.
Closed $40.2M Svenska acquisition in Côte d'Ivoire; paid back 1.8x initial investment in 8 months.
2025 capital budget $270-$330M; new $190M revolver; targeting >$25M shareholder returns.

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