For FY23 VAALCO Energy Recorded Sales Volumes Of 18,700 To 18,800 Net Revenue Interest BOEPD; For Q4 Sales Volumes Of About 21,725 To 22,125 NRI BOEPD

Author: Benzinga Newsdesk | January 17, 2024 03:28am

Highlights and Key Items:

• Continued solid operational performance in Gabon, Egypt and Canada drove production and sales volumes in Q4 2023;
• Recorded full year 2023 sales volumes of 23,900 to 24,000 working interest ("WI") barrels of oil equivalent per day ("BOEPD") at the top of its guidance range of 23,050 to 24,000 WI BOEPD;
  • Full year 2023 sales volumes were 18,700 to 18,800 net revenue interest ("NRI") BOEPD above the top end of the Company's guidance range of 17,900 to 18,500 NRI BOEPD;
• Generated sales volumes of about 27,400 to 27,550 WI BOEPD in Q4 2023 or 21,725 to 22,125 NRI BOEPD;
• Produced between 23,900 and 24,000 WI BOEPD for full year 2023, above the midpoint of its full year guidance range of 23,450 to 24,400 WI BOEPD;
  • Full year 2023 production volumes were 18,700 to 18,800 NRI BOEPD at the top end of the Company's guidance range of 18,300 to 18,900 NRI BOEPD;
• Delivered Q4 2023 production of 23,100 to 23,500 WI BOEPD or 17,900 to 18,200 NRI BOEPD; and
• Grew cash and cash equivalents to over $120 million at December 31, 2023 after returning $12.5 million in dividends and share buybacks in Q4 2023.

Posted In: EGY