---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-009578"
form_type: "8-K"
ticker: "EGY"
cik: "0000894627"
company_name: "VAALCO ENERGY INC /DE/"
filed_at: "2023-04-06T23:59:59+00:00"
generated_at: "2026-06-17T05:33:26.717414+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001437749-23-009578
- form_type: 8-K
- ticker: EGY
- cik: 0000894627
- company_name: VAALCO ENERGY INC /DE/
- filed_at: 2023-04-06T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/894627/000143774923009578/0001437749-23-009578-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/894627/000143774923009578/egy20221005_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-009578
- JSON: https://secwatch.observer/filing/0001437749-23-009578.json
- Plain text: https://secwatch.observer/filing/0001437749-23-009578.txt

## Key facts
- Earnings Releases
  VAALCO ENERGY INC /DE/ updated its 2023 guidance (initiated).
  - Period: 2023
  - Guidance: initiated
  - Result: guidance update
  source text: Announced 2023 operational and financial guidance including capital expenditure range of $70 to $90 million for full year 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/894627/000143774923009578/0001437749-23-009578-index.htm
- Earnings Releases
  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
  source text: 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);
  evidence_url: https://www.sec.gov/Archives/edgar/data/894627/000143774923009578/0001437749-23-009578-index.htm
- Earnings Releases
  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
  source text: 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);
  evidence_url: https://www.sec.gov/Archives/edgar/data/894627/000143774923009578/0001437749-23-009578-index.htm

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