VAALCO Energy, Inc. Announces Participation in Water Tower Research Fireside Chat on November 19, 2024 HOUSTON, Nov. 18, 2024 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“Vaalco” or the “Company”) today announced its participation in an investor event hosted by Water Tower Research (“WTR”) on Tuesday, November 19, 2024 at 11:00 a.m. Eastern (10:00 a.m. central and 4 p.m. London). As part of WTR’s ongoing Fireside Chat Series, Jeff Robertson, Managing Director at WTR, will lead a conversation with George Maxwell, Vaalco’s Chief Executive Officer and Director to discuss ...
AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN/CN)C; Target price of £0.70 per share: 1.9 mbbl/d at latest CN well. Water disposal infrastructure operational. High net cash – The fifth horizontal well at Carrizales Norte (CNB HZ-6) is producing 1.9 mbbl/d of oil (0.95 mbbl/d net to Arrow) with a water cut of 31%. The well reached TD ~ one month ago. After ~1 month of production, CNB HZ-1 and CNB HZ-3 were also producing >30% water with ~1 mbbl/d oil produ...
• 3Q24 WI production was 26,709 boe/d. This is above our expectations of 25,740 boe/d and towards the higher end of the guidance range of 24.9-27.6 mboe/d. • Vaalco has narrowed its FY24 production guidance range from 23.6-26.5 mboe/d to 24.1-25.4 mboe/d with lower capex (US$110-130 mm vs US$115-140 mm previously). • Success at the 4Q24 exploration well in the southern area of the Canada licence could derisk 8-12 mmboe and add ~US$0.45/sh to our Core NAV. • The detailed 2025 programme will be ...
VAALCO Energy, Inc. Announces Third Quarter 2024 Results 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 o...
VAALCO Energy, Inc. Declares Fourth Quarter 2024 Dividend HOUSTON, Nov. 11, 2024 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“Vaalco” or the “Company”) today declared its quarterly cash dividend of $0.0625 per share of common stock for the fourth quarter of 2024 ($0.25 annualized), which is payable on December 20, 2024, to stockholders of record at the close of business on November 22, 2024. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by the Board of Directors. George Maxwell, Vaalco’s Chie...
AUCTUS PUBLICATIONS ________________________________________ Condor Energies (CDR CN)C; Target price of C$5.80 per share: Another positive operating update – The work-overs of two new existing wells have added 441 boe/d after a combined 20 m of previously unperforated reservoir pay was accessed. The first well is producing 410 boe/d. It was previously shut-in. The second well is producing an extra 31 boe/d (+65%) and continues to clean-up. With a total cost of 100 wells on Condor’s fields includ...
VAALCO Energy, Inc. Announces Participation in EnerCom Denver Conference HOUSTON, Aug. 14, 2024 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“VAALCO” or the “Company”) today announced its participation in the EnerCom Denver Conference to be held in Denver, Colorado where Chief Executive Officer George Maxwell is scheduled to make a presentation on Tuesday, August 20th at 8:05 am Mountain Time (9:05 am Central Time). Senior management will also host one-on-one meetings with investors. The presentation will be webcast live and archived on VAALCO’s website, , in the “Inves...
AUCTUS PUBLICATIONS ________________________________________ Panoro Energy (PEN NO)C; Target price NOK52 per share: All eyes on EG – 1H24 production was 9,168 bbl/d. EG and Gabon production had already been disclosed. 1H24 production in Tunisia was 1,670 bbl/d (we forecasted 1,760 bbl/d) given subdued activities. In EG, the first infill well encountered the primary and secondary reservoirs in line with expectations. Production is expected to begin early September. The second infill well is expec...
• 2Q24 WI production was 25,411 boe/d, in line with our expectations and within the company’s guidance for 2Q24 (23.8-27 mboe/d). • WI production of ~3.3 mbb/d in Cote d’Ivoire was particularly high. WI production has now stabilized at ~4.5 mbbl/d. • In Gabon, production in 2Q24 was negatively impacted by a platform issue at Avouma. This is now resolved and production could be higher in 3Q24. The decline at the existing wells is lower while uptime is higher. • VAALCO has re-iterated its FY24 g...
VAALCO Energy, Inc. Announces Second Quarter 2024 Results HOUSTON, Aug. 06, 2024 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY, LSE: EGY) ("VAALCO" or the "Company") today reported operational and financial results for the second quarter of 2024. Second Quarter 2024 Highlights and Recent Key Items: Closed the accretive all cash acquisition of Svenska Petroleum Exploration AB (“Svenska”) for a net purchase price of $40.2 million; Updated third-party reserve engineer's calculation of proved reserves as of December 31, 2023 for Svenska that shows significant increase of SEC proved r...
VAALCO Energy, Inc. Declares Third Quarter 2024 Dividend HOUSTON, Aug. 06, 2024 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“VAALCO” or the “Company”) declared its quarterly cash dividend of $0.0625 per share of common stock for the third quarter of 2024 ($0.25 annualized), which is payable on September 20, 2024, to stockholders of record at the close of business on August 23, 2024. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by the Board of Directors. George Maxwell, VAALCO’s Chief Execu...
VAALCO Announces Posting of Interview With CEO George Maxwell on Its Web Site HOUSTON, July 29, 2024 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“VAALCO” or the “Company”) today announced that it has posted the recording of a recent interview with its Chief Executive Officer and Director, George Maxwell, on its web site, , on the “News and Events” page under the “Investor Relations” tab. Mr. Maxwell recently presented an overview of VAALCO and engaged in a detailed question and answer session hosted by Jasper Wijk, co-founder of Valpal, an investment advisory and resea...
VAALCO Announces Timing of Second Quarter 2024 Earnings Release and Conference Call HOUSTON, July 26, 2024 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“VAALCO” or the “Company”) today announced the timing of its second quarter 2024 earnings release and conference call. The Company will issue its second quarter 2024 earnings release on Tuesday, August 6, 2024 after the close of trading on the New York Stock Exchange and host a conference call to discuss its financial and operational results on Wednesday morning, August 7, 2024 at 10:00 a.m. Central Time (11:00 a.m. Eas...
We hosted a fireside chat with CEO George Maxwell on June 4, 2024, to discuss the company’s latest acquisition, which added a non-operated working interest in Block CI-40 offshore Côte d’Ivoire, and management’s strategy to add value from its diverse asset base spanning five countries. This report contains a transcript of the conversation, which can be accessed on demand. The link is accessible in our full report. VAALCO closed the Côte d’Ivoire acquisition on April 30, 2024, for $40.2 million. ...
Our updated estimates include the impact of the Svenska acquisition, which closed on April 30, 2024, and was included in management’s latest guidance update following the release of 1Q24 financial and operating results (Figure 1). The acquisition added a 27.39% non-operated working interest in the CI-40 license located offshore Côte d’Ivoire. On May 7, 2024, management increased the midpoint of FY24 working interest (WI) production guidance to ~25.0 MBOE/d from 22.1 MBOE/d. Production ranges for...
Condor Energies (CDR CN)C: Signing first LNG framework agreement in Kazakhstan – Condor has signed a first LNG Framework Agreement for the utilization of LNG to fuel Kazakhstan’s rail locomotives. The agreement was also signed by Kazakhstan Temir Zholy (KTZ), the national railway operator of Kazakhstan and Wabtec Corporation, a U.S. based locomotive manufacturer with existing facilities in Kazakhstan. KTZ and Wabtec previously signed a memorandum of understanding which includes modernization wor...
• The YE23 SEC net 1P reserves in Cote d’Ivoire are estimated at 16.9 mmboe; which compares very favorably with the previous estimate for the WI 1P reserves of 13 mmboe (as of 01/10/2023). • The YE23 WI 2P reserves are now estimated at 22.5 mmboe. Adding back production over November and December 2023 (assuming ~5 mbbl/d production), the new estimate represents an increase of ~1.1 mmboe vs the previous estimate of 21.7 mmboe at the end of October 2023. • 20.4 mmboe 2C contingent resources have ...
CORRECTION – VAALCO Energy, Inc. Provides Positive Additional Information Regarding Its Acquisition Of Svenska HOUSTON, July 16, 2024 (GLOBE NEWSWIRE) -- In a release issued under the same headline today at 2:00 AM ET by VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY), please note that, in the second-to-last paragraph before the “About VAALCO” section, the figure $107.1 million has been corrected to $195.5 million. The corrected release follows. VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“VAALCO” or the “Company”) today announces that it has filed a Form 8-K/A with the Securities and Excha...
VAALCO Energy, Inc. Provides Positive Additional Information Regarding Its Acquisition Of Svenska HOUSTON, July 16, 2024 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“VAALCO” or the “Company”) today announces that it has filed a Form 8-K/A with the Securities and Exchange Commission (“SEC”) that provides historical financial statements and additional reserves disclosures regarding its acquisition of Svenska Petroleum Exploration AB (“Svenska”). Key highlights: Updated SEC net proved reserves as of December 31, 2023 of 16.9 million barrels of oil equ...
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