Vaalco Energy, Inc. Announces Fourth Quarter and Full Year 2019 Results and Reserves Update
VAALCO Energy, Inc. (EGY)
US:NYSE Investor Relations:
vaalco.com/about-us/governance
Company Research
Source: GlobeNewswire
REPORTS NET INCOME OF $1.0 MILLION, OR $0.02 PER DILUTED SHARE, FOR THE FOURTH QUARTER OF 2019 HOUSTON, March 09, 2020 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE/LSE: EGY) today reported operational and financial results for the fourth quarter and full year of 2019. Highlights and Recent Key Items: Produced 3,664 net revenue interest (“NRI”)(1) barrels of crude oil per day (“BOPD”), or 4,211 WI(2) BOPD, and sold 0.3 million barrels of crude oil (“MMBO”) in the fourth quarter of 2019; in the full year 2019, production averaged 3,476 NRI BOPD, or 3,995 working interest “WI” BOPD, and sales totaled 1.3 MMBO; In the fourth quarter of 2019, reported net income of $1.0 million ($0.02 per diluted share) and Adjusted Net Income(3) of $5.5 million ($0.09 per diluted share) and generated Adjusted EBITDAX(3) of $10.4 millionFor the full year 2019, reported net income of $2.6 million ($0.04 per diluted share) and Adjusted Net Income of $18.6 million ($0.31 per diluted share) and generated
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