Vaalco Energy ( (EGY) ) has provided an announcement.
On March 4, 2025, Vaalco Energy entered into a new reserves-based revolving credit facility agreement with an initial commitment of $190 million, which can increase to $300 million. This facility, led by The Standard Bank of South Africa Limited, is intended to provide short-term funding to support Vaalco’s investment programs across its diversified asset base. The agreement replaces an existing undrawn facility and is secured by Vaalco’s assets in Gabon, Egypt, and Côte d’Ivoire. The facility is expected to bolster Vaalco’s financial flexibility, enabling it to fund significant growth projects and potentially enhance its market position.
More about Vaalco Energy
Vaalco Energy, founded in 1985 and based in Houston, Texas, is an independent energy company with a diverse portfolio of production, development, and exploration assets across Gabon, Egypt, Côte d’Ivoire, Equatorial Guinea, Nigeria, and Canada.
YTD Price Performance: -10.30%
Average Trading Volume: 879,527
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $405.7M
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