Edition:
United States

VAALCO Energy Inc (EGY.N)

EGY.N on New York Stock Exchange

0.83USD
24 Mar 2017
Change (% chg)

$-0.01 (-1.18%)
Prev Close
$0.84
Open
$0.83
Day's High
$0.87
Day's Low
$0.83
Volume
10,894
Avg. Vol
64,876
52-wk High
$1.43
52-wk Low
$0.70

Latest Key Developments (Source: Significant Developments)

Vaalco Energy announces additional funding from the IFC
Thursday, 16 Mar 2017 04:53pm EDT 

Vaalco Energy Inc : Vaalco Energy announces additional funding from the ifc . Vaalco Energy Inc - international finance corporation approved vaalco's formal request to borrow $4.12 million of additional funds . Vaalco Energy-supplemental agreement amended existing loan agreement with ifc, converting revolving portion of credit facility to term loan with $15 million outstanding . Vaalco Energy Inc - vaalco received approval from ifc on march 14, 2017 and expects to receive funds on or before march 31, 2017 . Vaalco Energy Inc - borrowed funds will provide added financial flexibility and facilitate execution of vaalco's corporate strategy .Vaalco Energy-supplemental agreement amended existing loan agreement with ifc, providing co could request additional $5 million of borrowings.  Full Article

VAALCO Energy Q4 loss per share $0.06 from continuing operations
Monday, 13 Mar 2017 06:35pm EDT 

VAALCO Energy Inc : Vaalco energy, inc. Announces fourth quarter and full year 2016 results . Q4 loss per share $0.06 from continuing operations . Vaalco energy inc- average realized price for crude oil in q4 of 2016 was $46.62 per barrel, up 19% from $39.18 per barrel in q4 of 2015 . Vaalco energy inc - qtrly average daily production volumes 3,682 boe/day versus 4,876 boe/day .Vaalco energy inc- total oil and natural gas sales for q4 of 2016 were $15.3 million, compared to $17.5 million for same period in 2015.  Full Article

Avouma 2-H well on Avouma Platform offshore Gabon is back on production
Thursday, 5 Jan 2017 06:45am EST 

Vaalco Energy Inc : Avouma 2-H well on Avouma Platform offshore Gabon is back on production .Well is currently producing at a stabilized rate of 2,700 barrels of oil per day (BOPD) gross, or 730 BOPD net to Vaalco.  Full Article

VAALCO Energy says South Tchibala 2-H well back on production
Wednesday, 21 Dec 2016 04:30pm EST 

VAALCO Energy Inc : VAALCO Energy Inc says well is currently producing at a stabilized rate of 1,600 barrels of oil per day gross, or 430 bopd net to VAALCO . VAALCO Energy -South Tchibala 2-H well back on production after utilizing hydraulic workover unit to replace failed electrical submersible pump system .VAALCO Energy - detailed inspection of failed ESPs is underway to determine cause of failures and results from inspections are expected in Q1 of 2017.  Full Article

Vaalco Energy says resumes production at Avouma Well
Thursday, 25 Aug 2016 05:37pm EDT 

Vaalco Energy Inc : Vaalco Energy announces resumption of production at avouma well . Secondary electric submersible pump in avouma 2-h well on avouma platform offshore gabon in etame marin permit was recently started . 2-H well on Avouma Platform offshore gabon in etame marin permit is now producing "at a stable rate" .Lower pump was started last week,performance is stable with well producing about 1,850 bopd gross or 450 bopd net to vaalco.  Full Article

Vaalco Energy reports Q2 earnings per share $0.00
Monday, 8 Aug 2016 04:30pm EDT 

Vaalco Energy Inc : Vaalco Energy Inc announces second quarter 2016 results . Q2 earnings per share $0.00 . Qtrly net production expense excluding workovers of $18.16 per BOE of sales, down 5 pct compared with $19.08 per BOE in Q2 of 2015 . Qtrly oil and gas sales $18.9 million versus $27.1 million last year .Says Q2 revenue positively impacted by higher oil prices compared to Q1 primarily due to increases in the dated Brent market price.  Full Article

Vaalco to buy additional 3.23 pct participating interest in Etame Marin Permit
Monday, 1 Aug 2016 04:30pm EDT 

Vaalco Energy Inc : Vaalco energy announces acquisition of additional working interest in the etame marin permit offshore gabon . Signed a purchase and sale agreement to acquire an additional 3.23% participating interest in Etame marin permit .Intends to fund acquisition with additional $5 million loan capacity available under new term loan agreement.  Full Article

Vaalco to convert existing $15 mln balance under revolving facility to a term loan
Wednesday, 6 Jul 2016 04:45pm EDT 

Vaalco Energy Inc : Vaalco announces conversion of ifc credit facility to term loan . To convert existing $15 million balance under revolving facility to a term loan . Option to request to draw up to an additional $5 million from ifc between now and december 31, 2016 .New agreement provides for quarterly principal and interest payments through june 30, 2019 at a rate of libor plus 5.75%.  Full Article

VAALCO says Q2 production averaged about 4,700 net boepd
Tuesday, 5 Jul 2016 04:45pm EDT 

VAALCO Energy : VAALCO announces agreement regarding remaining contract term on offshore Gabon drilling rig and provides operational update . Does not plan to change its annual production guidance at this time as a result of this temporary well shut-in . Total company production for Q2 of 2016 averaged approximately 4,700 net barrels of oil equivalent per day (boepd), up 4% from Q1 of 2016 .So far in 2016, experienced very high production uptime with more shallow declines from new wells placed on production in last 12 months.  Full Article

VAALCO Energy, Inc announces agreement with Group 42-BLR Group, changes board composition
Wednesday, 23 Dec 2015 06:45am EST 

VAALCO Energy, Inc:Announces agreement with group 42-blr group and changes to board composition and other shareholder friendly actions.Under agreement, VAALCO terminates stockholder rights plan and cancels plans for special meeting".Under terms, incumbent directors messrs. james b. jennings and o. donaldson chapoton will retire from the board.Says company has also agreed to separate its chairman and chief executive officer roles.Says andrew fawthrop will assume the role of chairman of the board.Says michael keane will become vice chairman, effective immediately.Says group 42-blr group agreed to vote all of its shares in favor of the VAALCO board's nominees at the 2016 annual meeting.Says has agreed to fix the size of the board at no more than seven members until the 2016 annual meeting.Says group 42-blr group has withdrawn its consent solicitation to replace a majority of the directors of VAALCO.Says company has cancelled its plans for a special meeting of stockholders on January 5, 2016.  Full Article

More From Around the Web

BRIEF-Vaalco Energy announces additional funding from the IFC

* Vaalco Energy Inc - international finance corporation approved vaalco's formal request to borrow $4.12 million of additional funds