Vaalco Energy (EGY) has released an update.
Vaalco Energy Inc. reports robust first quarter 2024 financials, including a net income of $7.7 million and a strong adjusted EBITDAX of $61.7 million, aided by the strategic acquisition of Svenska Petroleum Exploration AB and the resumption of Baobab field production at over 5,000 barrels per day. The company has also returned significant cash to shareholders through dividends and a share buyback program, while maintaining a healthy cash balance of $113.3 million.
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