Welcome to our dedicated page for Vaalco Energy news (Ticker: $EGY), a resource for investors and traders seeking the latest updates and insights on Vaalco Energy stock.
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VAALCO Energy, Inc. reported strong Q1 2024 results highlighted by the acquisition of Svenska, high production rates, robust earnings, and a favorable pricing environment. The company achieved net income of $7.7 million, Adjusted EBITDAX of $61.7 million, and significant sales volumes near guidance. VAALCO also closed the accretive Svenska acquisition ahead of schedule, enhancing its portfolio and shareholder value.
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.