In Q3, VAALCO Energy Produced 19,000 Net Revenue Interest ("NRI") Barrels of Oil Equivalent Per Day ("BOEPD"), Sales Volumes of 19,900 NRI BOEPD, Grew Cash and Equivalents to over $100M
Portfolio Pulse from Benzinga Newsdesk
VAALCO Energy, Inc. (NYSE:EGY) has reported strong operational performance in Q3 2023, with production of nearly 19,000 net revenue interest barrels of oil equivalent per day (NRI BOEPD) and sales volumes of almost 19,900 NRI BOEPD. The company also completed an additional crude sales lifting in Gabon of about 600,000 gross barrels of oil in the first week of October. Furthermore, VAALCO's cash and cash equivalents grew to over $100 million at the end of September 2023, more than double the amount as of June 30, 2023.
October 16, 2023 | 7:33 am
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POSITIVE IMPACT
VAALCO Energy's strong Q3 2023 performance and significant increase in cash and cash equivalents could positively impact its stock price in the short term.
VAALCO Energy's strong operational performance in Q3 2023, including high production and sales volumes, as well as a significant increase in cash and cash equivalents, indicates a healthy financial position. This could increase investor confidence and potentially drive up the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100