Report
Jeff Robertson

Asset Diversity Supports Growth and Cash Returns to Shareholders

We hosted a fireside chat on June 14 with George Maxwell, Chief Executive Officer and Director of VAALCO Energy. The discussion concentrated on VAALCO’s legacy asset in Gabon, the Venus development project in Equatorial Guinea, and the diversity provided by the TransGlobe acquisition, which added producing assets in Egypt and Canada. A transcript is included in this report. 2022 was a momentous year at the Etame field in Gabon. VAALCO completed a full-field reconfiguration including the installation of a new floating storage and offloading (FSO) vessel. The project is expected to lower operating expenses by nearly 18%. The reduction improves the cash flow profile of the asset and extends the economic life...
Underlying
Vaalco Energy Inc.

VAALCO Energy is an independent energy company engaged in the acquisition, exploration, development and production of crude oil. The company is primarily engaged in its Etame Production Sharing Contract related to the Etame Marin block located offshore the Republic of Gabon in West Africa. The company also owns interests in an undeveloped block offshore Equatorial Guinea, West Africa.

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Water Tower Research
Water Tower Research

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Analysts
Jeff Robertson

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