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vaalco energy inc (EGY) Details

VAALCO Energy, Inc., an independent energy company, acquires, explores for, develops, and produces crude oil and natural gas. The company owns producing properties and conducts exploration activities as an operator of consortiums internationally in Gabon and Angola, as well as conducts exploration activities as a non-operator in Equatorial Guinea, West Africa. It also acts as the operator of unconventional and conventional resource properties in the United States, located in Montana, South Dakota, and North Texas; and owns minor interests in conventional production activities as a non-operator. The company owns a 30.35% interest in the exploration acreage within the Etame Marin block; 28.1% interest in the development areas in and surrounding the Etame, Avouma, South Tchibala, and Ebouri fields; a 50% working interest in Mutamba Iroru block with an exploration area of approximately 270,000 acres located onshore near the coast in central Gabon; and a 40% working interest in Block 5 with approximately 1.4 million acres offshore, Angola. In addition, it owns a 31% working interest in Block P located offshore Equatorial Guinea; 640 and 480 acre leases in the Granite Wash formation in North Texas; a 70% working interest in approximately 5,200 acres in Sheridan County, Montana; a 65% working interest in approximately 22,000 gross acres in Roosevelt County, Montana; and a 100% working interest in approximately 10,000 acres in Harding County, South Dakota. VAALCO Energy, Inc. was founded in 1984 and is headquartered in Houston, Texas.

111 Employees
Last Reported Date: 03/13/14
Founded in 1984

vaalco energy inc (EGY) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: $378.1K
President, Chief Operating Officer and Direct...
Total Annual Compensation: $723.7K
Chief Financial Officer and Principal Account...
Total Annual Compensation: $533.8K
Executive Vice President
Total Annual Compensation: $470.1K
Total Annual Compensation: $938.9K
Compensation as of Fiscal Year 2013.

vaalco energy inc (EGY) Key Developments

VAALCO Energy, Inc. Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

VAALCO Energy Inc. reported unaudited earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenues of $52,098,000 compared to $29,118,000 a year ago. Operating income was $33,828,000 compared to $11,666,000 a year ago. Net income was $24,712,000 or $0.43 per basic and diluted share compared to $7,121,000 or $0.12 per basic and diluted share a year ago. For the six months period, the company reported revenues of $80,172,000 compared to $73,255,000 a year ago. Operating income was $33,181,000 compared to $33,170,000 a year ago. Net income was $17,676,000 or $0.31 per basic and diluted share compared to $14,310,000 or $0.24 per diluted share a year ago.

Vaalco Energy Inc., Q2 2014 Earnings Call, Aug 07, 2014

Vaalco Energy Inc., Q2 2014 Earnings Call, Aug 07, 2014

Vaalco Energy Raises Secures Additional Financing To Support Acquisitions

Vaalco Energy Inc. (NYSE:EGY) is seeking acquisitions. Vaalco Energy announced on July 13, 2014 that it has executed a loan agreement with the International Finance Corporation (IFC) for a $65 million reserve based loan facility secured by the assets of Vaalco Energy's Gabon subsidiary which owns an interest in the Etame Marin block, offshore Gabon. The loan facility will be used to support the development program in Gabon. Steve Guidry, Chief Executive Officer of Vaalco Energy, commented, “Vaalco's strong financial position is a key competitive advantage and with this credit facility, we have significantly enhanced our financial flexibility. With the proceeds of this facility, we will invest in the continued development of the Etame Marin block, including our ongoing drilling program and the two additional production platforms scheduled for installation in 2014. We will also now have more scope to allocate operating cash flow and the cash we have on hand to invest in value accretive development, exploration and acquisition opportunities."


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