VAALCO reports preliminary FY2022 net income $49-55M; raises dividend 92% to $0.0625/qtr

VAALCO ENERGY INC /DE/

2023-Q1 EPS reported $0.03 revenue$80,403,000

FY2022 avg daily production 10,217 NRI BOEPD (+47% YoY); Q4 production 14,390 NRI BOEPD.
Year-end 2022 SEC proved reserves 27.9 MMBOE (+149%); PV-10 value $624.5M (+529%).
Increased quarterly dividend 92% to $0.0625/share ($0.25 annualized) for Q1 2023.
FY2022 net income expected $49-55M; record Adjusted EBITDAX $186.6M.
2023 capex guidance $70-90M; $7.5M returned via buybacks since Nov 2022.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

VAALCO ENERGY INC /DE/ reported the fourth quarter and full year of 2022 results: net income Expects to report FY 2022 net income of between $49 and $55 million ; Expects to record fourth quarter 2022 net income o. Guidance reaffirmed.

Period: the fourth quarter and full year of 2022
Net income: Expects to report FY 2022 net income of between $49 and $55 million ; Expects to record fourth quarter 2022 net income o
Guidance: reaffirmed
Result: preliminary results

Exact text from the filing

VAALCO Energy, Inc. (the “Company”) issued a press release announcing operational and selected preliminary unaudited financial results for the fourth quarter and full year of 2022 and guidance for the year of 2023

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Source: SEC EDGAR

accession 0001437749-23-008838

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