VAALCO Q1 net income $7.7M; closes $40.2M Svenska acquisition; declares $0.0625 dividend

VAALCO ENERGY INC /DE/

2024-Q1 EPS reported $0.07 revenue$100,155,000

Net income $7.7M ($0.07 diluted EPS); Adjusted Net Income $6.5M ($0.06 diluted).
Adjusted EBITDAX $61.7M; NRI production 16,848 BOEPD, WI 21,807 BOEPD.
Closed all-cash acquisition of Svenska Petroleum Exploration for net $40.2M, expanding West African assets.
Unrestricted cash $113.3M; quarterly dividend $0.0625/share payable June 21, 2024.
Baobab field restarted after April maintenance at >5,000 WI BOEPD (99% oil).

item 2.02 item 7.01 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/ reported the first quarter of 2024 results: net income $7.7 million ($0.07 per diluted share), EPS $0.07 per diluted share. Guidance reaffirmed.

Period: the first quarter of 2024
Net income: $7.7 million ($0.07 per diluted share)
EPS: $0.07 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

VAALCO Energy, Inc. (NYSE: EGY, LSE: EGY) ("VAALCO" or the "Company") today reported operational and financial results for the first quarter of 2024.

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Source: SEC EDGAR

accession 0001437749-24-015135

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