Vaalco Energy (EGY) has released an update.
Vaalco Energy Inc. has announced its Q1 2024 financial achievements, headlined by the strategic acquisition of Svenska Petroleum Exploration AB for $40.2 million and a production rebound in the Baobab field, with a working interest production rate exceeding 5,000 barrels of oil equivalent per day. The company also reported a net income of $7.7 million and has returned cash to shareholders by announcing a quarterly cash dividend, alongside share buybacks totaling approximately $30 million.
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