In Q3, VAALCO Energy Produced 19,000 Net Revenue Interest ("NRI") Barrels of Oil Equivalent Per Day ("BOEPD"), Sales Volumes of 19,900 NRI BOEPD, Grew Cash and Equivalents to over $100M

Author: Benzinga Newsdesk | October 16, 2023 03:33am

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.
 

Highlights and Key Items:

• Strong operational performance in Gabon, Egypt and Canada continued to drive robust production and sales volumes in Q3 2023;
  • Produced nearly 19,000 net revenue interest ("NRI") barrels of oil equivalent per day ("BOEPD"), at the upper end of VAALCO's third quarter guidance range of 17,500 to 19,200 NRI BOEPD;
  • Recorded sales volumes of almost 19,900 NRI BOEPD, also at higher end of its guidance range of 18,400 to 20,600 NRI BOEPD;
• Completed an additional crude sales lifting in Gabon of about 600,000 gross barrels of oil in the first week of October; and
• Grew cash and cash equivalents to over $100 million at September 30, 2023, more than double cash and cash equivalents as of June 30, 2023.

Posted In: EGY