---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-24-010268"
form_type: "8-K"
ticker: "EGY"
cik: "0000894627"
company_name: "VAALCO ENERGY INC /DE/"
filed_at: "2024-02-29T23:59:59+00:00"
generated_at: "2026-06-05T07:43:37.164992+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# VAALCO to acquire Svenska for $66.5M, adding 27.39% WI in Baobab field offshore Côte d'Ivoire

## Summary
- Gross purchase price $66.5M; net cash due at closing expected $30-40M, funded from cash on hand with no debt or equity.
- Svenska holds 27.39% non-operated WI in producing Baobab field (CI-40) with current production ~4,500 WI BOEPD (99% oil).
- 1P WI CPR reserves 13.0 MMBOE; 2P WI CPR reserves 21.7 MMBOE (97% oil). Transaction valued at $5.12/BOE 1P.
- Acquisition expected to close in Q2 2024, subject to regulatory approvals in Côte d'Ivoire and Sweden.
- Includes 21.05% WI in OML 145 offshore Nigeria (non-producing); FPSO planned upgrade in 2025 with drilling program in 2026.

## SEC filing metadata
- accession: 0001140361-24-010268
- form_type: 8-K
- ticker: EGY
- cik: 0000894627
- company_name: VAALCO ENERGY INC /DE/
- filed_at: 2024-02-29T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/894627/000114036124010268/0001140361-24-010268-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/894627/000114036124010268/ef20022760_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-24-010268
- JSON: https://secwatch.observer/filing/0001140361-24-010268.json
- Plain text: https://secwatch.observer/filing/0001140361-24-010268.txt

## Key facts
- Material Agreements
  VAALCO ENERGY INC /DE/ entered into Share Purchase Agreement with Petroswede AB valued at $66.5 million in cash (effective 2024-02-29).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Petroswede AB
  - Value: $66.5 million in cash
  - Effective: 2024-02-29
  source text: On February 29, 2024, VAALCO Energy (Holdings), LLC (“Buyer”), a Delaware limited liability company and wholly-owned subsidiary of the VAALCO Energy, Inc. (“VAALCO” or the “Company”), and Petroswede AB, a company incorporated in Sweden (“Seller”), entered into a Share Purchase Agreement (the “Share Purchase Agreement”) pursuant to which the Buyer will purchase all of the issued shares in the capital of Svenska Petroleum Exploration Aktiebolag, a company incorporated in Sweden (“Svenska”) for $66.5 million in cash (the “Purchase Price”), subject to adjustment as described below (the “Acquisition”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/894627/000114036124010268/0001140361-24-010268-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.