secwatch.observer — SEC 8-K summary
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Issuer:     VAALCO ENERGY INC /DE/ (EGY)
CIK:        0000894627
Form:       8-K
Filed at:   2024-03-14T23:59:59+00:00
Accession:  0001437749-24-007723
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/894627/000143774924007723/0001437749-24-007723-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/894627/000143774924007723/egy20231117_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-007723

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