---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-007723"
form_type: "8-K"
ticker: "EGY"
cik: "0000894627"
company_name: "VAALCO ENERGY INC /DE/"
filed_at: "2024-03-14T23:59:59+00:00"
generated_at: "2026-06-04T21:57:29.422308+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# VAALCO reports record FY2023 net income $60.4M, 83% production growth; to acquire Svenska

## Summary
- FY 2023 net income $60.4M ($0.56 diluted EPS); record Adj EBITDAX $280.4M; FCF $119.7M.
- Production averaged 18,710 NRI BOEPD (+83% YoY); Q4 net income $44.0M ($0.41 diluted EPS).
- Announced all-cash acquisition of Svenska (4,500 BOEPD, 13.0 MMBOE 1P reserves) expected to be accretive.
- Returned $50.3M to shareholders in 2023 (42% of FCF); targets returning >$25M in 2024.
- Ended 2023 with $121M cash, bank debt free; 2024 capex planned at $70M–$90M.

## SEC filing metadata
- accession: 0001437749-24-007723
- form_type: 8-K
- ticker: EGY
- cik: 0000894627
- company_name: VAALCO ENERGY INC /DE/
- filed_at: 2024-03-14T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/894627/000143774924007723/0001437749-24-007723-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/894627/000143774924007723/egy20231117_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-007723
- JSON: https://secwatch.observer/filing/0001437749-24-007723.json
- Plain text: https://secwatch.observer/filing/0001437749-24-007723.txt

## Key facts
- Earnings Releases
  VAALCO ENERGY INC /DE/ reported fourth quarter and full year of 2023 results: net income $60.4 million ($0.56 per diluted share) for FY 2023. Guidance initiated.
  - Period: fourth quarter and full year of 2023
  - Net income: $60.4 million ($0.56 per diluted share) for FY 2023
  - Guidance: initiated
  - Result: reported results
  source text: VAALCO Energy, Inc. (the "Company") issued a press release announcing its financial results for the fourth quarter of 2023 and guidance for the first quarter 2024 and the total year 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/894627/000143774924007723/0001437749-24-007723-index.htm

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