---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-013852"
form_type: "8-K"
ticker: "EGY"
cik: "0000894627"
company_name: "VAALCO ENERGY INC /DE/"
filed_at: "2024-04-30T23:59:59+00:00"
generated_at: "2026-06-03T05:13:38.710009+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# VAALCO closes $40.2M cash acquisition of Svenska, adding Baobab field in Cote d'Ivoire

## Summary
- Net purchase price of $40.2M funded entirely from cash on hand; no debt or equity issued.
- Acquired 27.39% non-operated WI in Baobab field, currently producing >5,000 BOEPD (99% oil).
- Svenska adds 13.0 MMBOE 1P and 21.7 MMBOE 2P net proved reserves (99% oil).
- Also acquired 21.05% WI in OML 145 offshore Nigeria (non-producing, not expected to develop).
- CEO says acquisition is highly accretive, strengthens West African portfolio, supports future growth.

## SEC filing metadata
- accession: 0001437749-24-013852
- form_type: 8-K
- ticker: EGY
- cik: 0000894627
- company_name: VAALCO ENERGY INC /DE/
- filed_at: 2024-04-30T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/894627/000143774924013852/0001437749-24-013852-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/894627/000143774924013852/egy20240426_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-013852
- JSON: https://secwatch.observer/filing/0001437749-24-013852.json
- Plain text: https://secwatch.observer/filing/0001437749-24-013852.txt

## Key facts
- M&A Transactions
  VAALCO ENERGY INC /DE/ completed an acquisition involving Petroswede AB for approximately $40.2 million in cash (closed 2024-04-30).
  - Action: acquisition
  - Counterparty: Petroswede AB
  - Consideration: approximately $40.2 million in cash
  - Closing: 2024-04-30
  source text: non-operated working interest in OML 145, a non-producing discovery located offshore of Nigeria that is not expected to be developed at this time. The Buyer paid approximately $40.2 million in cash as consideration for the Acquisition. The Company financed the Acquisition with a portion of VAALCO’s cash-on-hand. --- EX-99.1 (EXHIBIT 99.1) --- EX-99.1 2
  evidence_url: https://www.sec.gov/Archives/edgar/data/894627/000143774924013852/0001437749-24-013852-index.htm

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