Vaalco Energy ( (EGY) ) has shared an announcement.
Vaalco Energy, Inc. announced record financial and operational results for 2024, with a net income of $58.5 million and a 57% increase in year-end reserves. The company expanded its West African operations through the acquisition of Svenska Petroleum and secured new production sharing contracts in Gabon. For 2025, Vaalco plans a capital budget of $270 to $330 million, focusing on drilling campaigns and infrastructure projects in Côte d’Ivoire, Egypt, and Canada, while aiming to return over $25 million to shareholders.
More about Vaalco Energy
Vaalco Energy, Inc. operates in the oil and gas industry, focusing on exploration, development, and production of crude oil and natural gas. The company has a significant presence in West Africa, particularly in Gabon, Egypt, and Côte d’Ivoire, and is known for its strategic acquisitions and organic growth initiatives.
YTD Price Performance: -11.86%
Average Trading Volume: 860,193
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $416.2M
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