VAALCO reports FY 2022 net income $51.9M, raises dividend 92%, provides 2023 guidance

VAALCO ENERGY INC /DE/

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

FY 2022 net income $51.9M ($0.73 diluted); Adjusted Net Income $104.3M ($1.49 diluted).
Q4 2022 net income $17.8M ($0.17 diluted); Adjusted Net Income $19.2M ($0.19).
Quarterly dividend raised 92% to $0.0625/share for Q1 2023 ($0.25 annualized).
FY 2022 average daily production up 44% to 10,217 NRI BOEPD; record Adjusted EBITDAX $186.6M.
2023 capital expenditure guidance $70-$90 million; year-end SEC proved reserves up 149% to 27.9 MMBOE.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

VAALCO ENERGY INC /DE/ updated its 2023 guidance (initiated).

Period: 2023
Guidance: initiated
Result: guidance update

Exact text from the filing

Announced 2023 operational and financial guidance including capital expenditure range of $70 to $90 million for full year 2023.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

VAALCO ENERGY INC /DE/ reported fourth quarter 2022 results: net income Recorded fourth quarter 2022 net income of $17.8 million ($0.17 per diluted share) and Adjusted Net Income of $19.2 mill, EPS $0.17 per diluted share.

Period: fourth quarter 2022
Net income: Recorded fourth quarter 2022 net income of $17.8 million ($0.17 per diluted share) and Adjusted Net Income of $19.2 mill
EPS: $0.17 per diluted share
Result: reported results

Exact text from the filing

Recorded fourth quarter 2022 net income of $17.8 million ($0.17 per diluted share) and Adjusted Net Income of $19.2 million ($0.19 per diluted share);

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

VAALCO ENERGY INC /DE/ reported fourth quarter and full year of 2022 results: net income Reported full year ("FY") 2022 net income of $51.9 million ($0.73 per diluted share) and Adjusted Net Income (1) of $104, EPS $0.73 per diluted share. Guidance initiated.

Period: fourth quarter and full year of 2022
Net income: Reported full year ("FY") 2022 net income of $51.9 million ($0.73 per diluted share) and Adjusted Net Income (1) of $104
EPS: $0.73 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

Reported full year ("FY") 2022 net income of $51.9 million ($0.73 per diluted share) and Adjusted Net Income (1) of $104.3 million ($1.49 per diluted share);

View on SEC.gov

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Source: SEC EDGAR

accession 0001437749-23-009578

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