VAALCO Q1 net income $7.7M; production above guidance; cuts 2025 capex 10%

VAALCO ENERGY INC /DE/

2025-Q1 EPS reported $0.07 revenue$110,329,000

Net income $7.7M ($0.07/diluted share); Adjusted Net Income $6.3M ($0.06/share); Adjusted EBITDAX $57.0M.
Q1 production 17,764 NRI BOEPD above high end of guidance; sales 19,074 NRI BOEPD toward high end.
Reduced full year 2025 capex guidance ~10% without affecting production/sales guidance.
Entered new $190M reserves-based revolving credit facility (can grow to $300M); acquired 70% WI in CI-705 block offshore Côte D'Ivoire.
Declared quarterly dividend $0.0625/share payable June 27, 2025; Capital Markets Day May 14.

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