Vaalco Energy

VAALCO Schedules Fourth Quarter and Full Year 2023 Earnings Release and Conference Call

Retrieved on: 
Monday, March 4, 2024

HOUSTON, March 04, 2024 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“VAALCO” or the “Company”) today announced the timing of its fourth quarter and full year 2023 earnings release and conference call.

Key Points: 
  • HOUSTON, March 04, 2024 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“VAALCO” or the “Company”) today announced the timing of its fourth quarter and full year 2023 earnings release and conference call.
  • The Company will issue its fourth quarter 2023 earnings release on Wednesday, March 13, 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 Thursday morning, March 14, 2024 at 10:00 a.m. Central Time (11:00 a.m. Eastern Time and 4:00 p.m. London Time.)
  • Interested parties in the United States may participate toll-free by dialing (833) 685-0907.
  • Participants should ask to be joined to the “VAALCO Energy Fourth Quarter 2023 Conference Call.” This call will also be webcast on VAALCO’s website at www.vaalco.com .

VAALCO Energy, Inc. Announces Accretive All Cash Acquisition Expanding Its West African Footprint

Retrieved on: 
Thursday, February 29, 2024

Svenska’s primary asset is a 27.39% non-operated working interest in the deepwater producing Baobab field in Block CI-40, offshore Cote d’Ivoire in West Africa.

Key Points: 
  • Svenska’s primary asset is a 27.39% non-operated working interest in the deepwater producing Baobab field in Block CI-40, offshore Cote d’Ivoire in West Africa.
  • The gross consideration for the Acquisition is $66.5 million, subject to customary closing adjustments, with an effective date of October 1, 2023.
  • Closing of the Acquisition is expected in the second quarter of 2024, with ultimate timing dependent on final receipt of all necessary approvals.
  • VAALCO currently estimates that the net cash due at closing will be in the range of approximately $30 to $40 million, dependent on timing.

VAALCO Response to Media Speculation

Retrieved on: 
Tuesday, February 27, 2024

HOUSTON, Feb. 27, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) ("VAALCO" or the "Company") notes the recent media speculation in Africa Intelligence and confirms that the Company is in discussions with the owner of Svenska Petroleum Exploration AB (“Svenska”) regarding a possible debt-free corporate transaction to acquire Svenska whose primary asset is a 27.39% interest in Block CI-40, offshore Cote d’Ivoire, which has current working interest production of approximately 4,500 barrels of oil equivalent per day net to Svenska.

Key Points: 
  • HOUSTON, Feb. 27, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) ("VAALCO" or the "Company") notes the recent media speculation in Africa Intelligence and confirms that the Company is in discussions with the owner of Svenska Petroleum Exploration AB (“Svenska”) regarding a possible debt-free corporate transaction to acquire Svenska whose primary asset is a 27.39% interest in Block CI-40, offshore Cote d’Ivoire, which has current working interest production of approximately 4,500 barrels of oil equivalent per day net to Svenska.
  • Should the possible acquisition proceed, it is expected to be funded by cash on hand.
  • The possible acquisition is also expected to be subject to a number of customary closing conditions, including regulatory and government approvals.
  • There can be no assurance that a definitive agreement for the possible acquisition will be entered into or, if a definitive agreement is entered into, that the possible acquisition will proceed to completion, and the Company will issue a further statement as appropriate.

VAALCO Energy, Inc. Declares Quarterly Dividend

Retrieved on: 
Monday, February 26, 2024

HOUSTON, Feb. 26, 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 first quarter of 2024 ($0.25 annualized), which is payable on March 28, 2024, to stockholders of record at the close of business on March 8, 2024.

Key Points: 
  • HOUSTON, Feb. 26, 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 first quarter of 2024 ($0.25 annualized), which is payable on March 28, 2024, to stockholders of record at the close of business on March 8, 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 Executive Officer, commented, “Our ongoing focus on operational excellence and enhancing the productivity of our diverse asset base has allowed us to continue returning cash to our shareholders through a dividend.
  • We paid $0.13 per share in 2022, $0.25 per share in 2023 and with this declaration, we are on track to deliver another $0.25 per share in 2024.

VAALCO Energy, Inc. Provides Operational and Financial Update Including Production and Sales Volumes for Fourth Quarter 2024

Retrieved on: 
Wednesday, January 17, 2024

HOUSTON, Jan. 17, 2024 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“VAALCO” or the “Company”) today provided an operational and financial update with production and sales volumes for the fourth quarter and full year of 2023 as well as its increased cash and cash equivalents balance as of December 31, 2023.

Key Points: 
  • HOUSTON, Jan. 17, 2024 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“VAALCO” or the “Company”) today provided an operational and financial update with production and sales volumes for the fourth quarter and full year of 2023 as well as its increased cash and cash equivalents balance as of December 31, 2023.
  • Our high-quality asset base, combined with our exceptional operational and financial teams, have helped us to deliver this strong performance that exceeded expectations.
  • VAALCO was able to accomplish this even after funding our capital program, paying out $27 million in dividends and repurchasing $21 million of VAALCO stock.
  • We have entered 2024 with a clean balance sheet, growing cash position and robust operational performance, underpinning management’s confidence in achieving our strategic objectives.”

VAALCO Energy, Inc. Declares Quarterly Dividend

Retrieved on: 
Tuesday, November 7, 2023

HOUSTON, Nov. 07, 2023 (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 fourth quarter of 2023 ($0.25 annualized), which is payable on December 21, 2023, to stockholders of record at the close of business on November 24, 2023.

Key Points: 
  • HOUSTON, Nov. 07, 2023 (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 fourth quarter of 2023 ($0.25 annualized), which is payable on December 21, 2023, to stockholders of record at the close of business on November 24, 2023.
  • 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 Executive Officer, commented, “Our continued focus on operational excellence and enhancing the productivity of our diverse asset base has allowed us to continue to deliver on our promise to pay an increased dividend rate in 2023.
  • With this declaration, we will now pay $0.25 per share in 2023 compared to $0.13 per share in 2022.

STEP Energy Services Ltd. Announces Appointment of New Independent Director Edward Lafehr and Retirement of Jason Skehar

Retrieved on: 
Thursday, November 2, 2023

CALGARY, Alberta, Nov. 01, 2023 (GLOBE NEWSWIRE) -- STEP Energy Services Ltd. (“STEP”) is pleased to announce the appointment of Mr. Edward LaFehr as an independent director of STEP’s board of directors, effective November 1, 2023.

Key Points: 
  • CALGARY, Alberta, Nov. 01, 2023 (GLOBE NEWSWIRE) -- STEP Energy Services Ltd. (“STEP”) is pleased to announce the appointment of Mr. Edward LaFehr as an independent director of STEP’s board of directors, effective November 1, 2023.
  • Mr. LaFehr has 40 years of experience in the energy industry managing large and complex onshore and offshore E&P assets.
  • Mr. LaFehr previously served as the president and chief executive officer of Baytex Energy Corporation for six years.
  • STEP’s director, Ms. Evelyn Angelle, also assumed the position of lead director for STEP’s board of directors.

VAALCO Schedules Third Quarter 2023 Earnings Release and Conference Call

Retrieved on: 
Wednesday, October 25, 2023

HOUSTON, Oct. 25, 2023 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“VAALCO” or the “Company”) today announced the timing of its third quarter 2023 earnings release and conference call.

Key Points: 
  • HOUSTON, Oct. 25, 2023 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“VAALCO” or the “Company”) today announced the timing of its third quarter 2023 earnings release and conference call.
  • The Company will issue its third quarter 2023 earnings release on Tuesday, November 7, 2023 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, November 8, 2023 at 10:00 a.m. Central Time (11:00 a.m. Eastern Time and 4:00 p.m. London Time.)
  • Interested parties in the United States may participate toll-free by dialing (833) 685-0907.
  • Participants should ask to be joined to the “VAALCO Energy Third Quarter 2023 Conference Call.” This call will also be webcast on VAALCO’s website at www.vaalco.com .

The Radoff-Sudbury Group Sets the Record Straight and Highlights Key Facts that Reinforce the Need for Targeted Boardroom Change at LifeVantage Corporation

Retrieved on: 
Thursday, October 19, 2023

Since 2020, the Company has seen a 26% decline in consultants, a 16% decline in customers and a 20% decline in active accounts.

Key Points: 
  • Since 2020, the Company has seen a 26% decline in consultants, a 16% decline in customers and a 20% decline in active accounts.
  • These concerning declines underscore the need to install proven operators with direct selling experience in LifeVantage’s boardroom.
  • In fact, we have received unsolicited messages from consultants who have indicated that they hope to see change implemented at the Board-level.
  • LifeVantage fails to acknowledge it is located outside of Salt Lake City while comparing the lease to city rates.

VAALCO Energy, Inc. Provides Operational and Financial Update Including Production and Sales Volumes for Third Quarter 2023

Retrieved on: 
Monday, October 16, 2023

HOUSTON, Oct. 16, 2023 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“VAALCO” or the “Company”) today provided an operational and financial update, including production and sales volumes for the third quarter 2023 and its increased cash and cash equivalents balance as of September 30, 2023.

Key Points: 
  • HOUSTON, Oct. 16, 2023 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“VAALCO” or the “Company”) today provided an operational and financial update, including production and sales volumes for the third quarter 2023 and its increased cash and cash equivalents balance as of September 30, 2023.
  • George Maxwell, VAALCO’s Chief Executive Officer commented, “The good performance of our 2023 capital program in Egypt and Canada, coupled with the strong operational uptime in Gabon have driven our robust production.
  • We raised production and sales guidance after our first half 2023 results and our continued strong performance has carried into the third quarter with both production and sales at the high end of our guidance ranges.
  • We are excited about 2024 and beyond with a clean balance sheet, growing cash position and robust operational performance.”