VAALCO Energy, Inc. Announces Third Quarter 2024 Results
VAALCO Energy, Inc. (EGY)
US:NYSE Investor Relations:
vaalco.com/about-us/governance
Company Research
Source: GlobeNewswire
HOUSTON, Nov. 11, 2024 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY, LSE: EGY) ("Vaalco" or the "Company") today reported operational and financial results for the third quarter of 2024. Third Quarter 2024 Highlights and Recent Key Items: Grew net revenue interest ("NRI")(2) sales to 2,134,000 barrels of oil equivalent (“BOE”), or 23,198 barrels of oil equivalent per day ("BOEPD"), toward the upper end of guidance; and 20% above the second quarter of 2024 due to additional Côte d’Ivoire liftings;Reported Q3 2024 net income of $11.0 million ($0.10 per diluted share) and Adjusted Net Income(1) of $7.9 million ( $0.08 per diluted share);Increased Adjusted EBITDAX(1) by 28% to $92.8 million compared to Q2 2024, driven by sales increase associated with Côte d’Ivoire liftings; Achieved production of 21,770 NRI(2) BOEPD and working interest (“WI”)(3) production of 26,709 BOEPD; both were higher than Q2 2024 by 5%;Posted unrestricted cash of $89.1 million which is after $6.6 million
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