---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-22-029536"
form_type: "8-K"
ticker: "EGY"
cik: "0000894627"
company_name: "VAALCO ENERGY INC /DE/"
filed_at: "2022-12-21T23:59:59+00:00"
generated_at: "2026-06-21T01:17:58.190490+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.15
calibrated_materiality_score: 0.15
confidence: "high"
source: SEC EDGAR
---

# VAALCO subsidiary TransGlobe terminates ATB Financial credit facility; no amounts drawn

## Summary
- Borrowing base was C$22.5M; no amounts drawn as of Dec 19, 2022.
- Outstanding letters of credit (C$50k) and credit card balance (~C$35k) to be repaid before termination.
- VAALCO's $50M senior secured revolving credit facility with Glencore remains in force unaffected.
- Termination is voluntary and will release associated liens upon repayment.

## SEC filing metadata
- accession: 0001437749-22-029536
- form_type: 8-K
- ticker: EGY
- cik: 0000894627
- company_name: VAALCO ENERGY INC /DE/
- filed_at: 2022-12-21T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.15
- calibrated_materiality_score: 0.15
- confidence: high
- sec_items: 1.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/894627/000143774922029536/0001437749-22-029536-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/894627/000143774922029536/egy20221221_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-22-029536
- JSON: https://secwatch.observer/filing/0001437749-22-029536.json
- Plain text: https://secwatch.observer/filing/0001437749-22-029536.txt

## Key facts
- Material Agreements
  VAALCO ENERGY INC /DE/ terminated ATB Facility with ATB Financial (effective 2022-12-19).
  - Action: termination
  - Agreement: credit facility
  - Counterparty: ATB Financial
  - Effective: 2022-12-19
  source text: On December 19, 2022, TransGlobe Energy Corporation (“TransGlobe”), an indirect wholly-owned subsidiary of VAALCO Energy, Inc. (“VAALCO”), voluntarily delivered a notice of termination to ATB Financial relating to TransGlobe’s revolving Canadian reserves-based lending facility with ATB Financial, as lender (the “ATB Facility”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/894627/000143774922029536/0001437749-22-029536-index.htm

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