VAALCO Energy increases quarterly dividend 92% to $0.0625; reports Q4 2022 production in-line with guidance

VAALCO ENERGY INC /DE/

Quarterly dividend raised 92% to $0.0625/share ($0.25 annualized); payable March 31, 2023 to holders of record March 24, 2023.
Q4 2022 production ~14,200 NRI BOEPD; full-year 2022 production up 43% YoY to ~10,150 NRI BOEPD.
Q4 2022 capex ~$55M (modestly above guidance); full-year capex ~$175M including FSO project and drilling.
Returned $15.3M to shareholders in 2022 via $9.3M dividends and $6M share buybacks; $30M buyback program ongoing.
Integration of TransGlobe acquisition advancing; first tranche of synergies captured, including management streamlining.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.8

VAALCO ENERGY INC /DE/ reported financial results for fourth quarter 2022.

Period: fourth quarter 2022
Result: reported results

Exact text from the filing

Reported fourth quarter 2022 production of approximately 18,175 working interest (“WI”) barrels of oil equivalent (“BOEPD”) or about 14,200 net revenue interest (“NRI”) BOEPD;

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Source: SEC EDGAR

accession 0001437749-23-003373

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