For FY23 VAALCO Energy Recorded Sales Volumes Of 18,700 To 18,800 Net Revenue Interest BOEPD; For Q4 Sales Volumes Of About 21,725 To 22,125 NRI BOEPD
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VAALCO Energy, Inc. (EGY) reported strong operational performance for FY23 with sales volumes exceeding guidance. The company achieved 18,700 to 18,800 NRI BOEPD for the full year, surpassing the top end of its guidance range of 17,900 to 18,500 NRI BOEPD. Q4 sales volumes were about 21,725 to 22,125 NRI BOEPD. Full year WI BOEPD was 23,900 to 24,000, and Q4 production was 23,100 to 23,500 WI BOEPD or 17,900 to 18,200 NRI BOEPD. The company also increased its cash reserves to over $120 million after returning $12.5 million to shareholders through dividends and buybacks in Q4.
January 17, 2024 | 7:28 am
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VAALCO Energy exceeded its full year 2023 sales volume guidance, with strong Q4 performance and increased cash reserves, signaling robust operational efficiency and financial health.
Exceeding sales volume guidance and reporting a strong cash position are positive indicators of a company's performance. This typically leads to increased investor confidence and can have a positive impact on the stock price in the short term.
CONFIDENCE 90
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RELEVANCE 100