Vaalco Energy, Inc. - $EGY STOCK NEWS

VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) has declared a quarterly cash dividend of $0.0625 per share of common stock for the second quarter of 2024 ($0.25 annualized). The dividend will be payable on June 21, 2024, to stockholders of record on May 17, 2024. The company's CEO, George Maxwell, highlighted the consistent financial success that enables them to return cash to shareholders through dividends.

VAALCO Energy, Inc. has successfully completed the acquisition of Svenska Petroleum Exploration AB, a company based in Stockholm, Sweden, with a significant interest in the Baobab field offshore Cote d’Ivoire. The acquisition was funded by cash on hand, with no additional debt or equity issued. The transaction is expected to be immediately accretive to shareholders, providing VAALCO with a substantial producing asset and future growth opportunities in a well-established market.

VAALCO Energy, Inc. announced the release of its 2023 Sustainability Report, focusing on environmental, social, and governance initiatives. The report highlights the appointment of new leadership to enhance accountability, global standards, and sustainability practices. CEO George Maxwell emphasized the importance of strategic objectives post the TransGlobe Energy merger. COO Thor Pruckl discussed the 19% reduction in Scope 1 emissions and the company's commitment to decarbonization.

VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) announced the schedule for its first quarter 2024 earnings release and conference call. The earnings release will be on May 7, 2024, with a conference call on May 8, 2024, to discuss financial and operational results. Interested parties can participate through various dial-in options and a webcast on VAALCO's website.

VAALCO Energy, Inc. announces approval of Joint Operating agreement for Block P in Equatorial Guinea, paving the way for development and production. CEO George Maxwell expresses excitement for the project and highlights the company's strong portfolio and operational track record.

VAALCO Energy, Inc. reports record financial results and shareholder returns for 2023, with highlights including $60.4 million net income, $280.4 million Adjusted EBITDAX, and $121 million cash at year-end. The company raised production by 83% year-over-year, increased SEC proved reserves by 3%, and invested over $70 million in capital programs in Egypt and Canada. In Q4 2023, VAALCO generated $44.0 million net income and sold 21,674 BOEPD. The company plans a 2024 capital budget of $70 to $90 million and aims to return over $25 million of Free Cash Flow to shareholders.

VAALCO Energy, Inc. (EGY) is set to participate in the 36th Annual Roth Conference in Dana Point, California. The Chief Financial Officer and Vice President of Commercial and Strategic Planning will engage in one-on-one meetings with investors. An updated investor presentation will be available on the company's website before the event.

VAALCO Energy, Inc. (EGY) announced the timing of its Q4 and full-year 2023 earnings release and conference call. The earnings release will be on March 13, 2024, with a conference call on March 14, 2024. Interested parties can participate via phone or webcast.

VAALCO Energy, Inc. announces the acquisition of Svenska Petroleum Exploration AB for $66.5 million, enhancing its West African focus with a deepwater asset in Cote d’Ivoire. The deal is expected to be immediately accretive to shareholders, with no issuance of debt or equity. The transaction includes 13.0 million barrels of oil equivalent 1P reserves and 21.7 million 2P reserves, positioning VAALCO for significant future development opportunities.