Vaalco Energy ( (EGY) ) has issued an update.
Vaalco Energy reported a net income of $7.7 million for the first quarter of 2025, with production and sales figures exceeding guidance. The company has entered into a new credit facility and reduced its capital expenditure guidance by 10% without impacting production or sales forecasts. Vaalco is advancing significant projects in Gabon and Côte D’Ivoire, including a drilling campaign and FPSO refurbishment, while deferring some capital spending in Canada. These strategic moves aim to position the company for profitable growth and increased value over the coming years.
More about Vaalco Energy
Vaalco Energy, Inc. is an energy company operating in the oil and gas industry, primarily focused on exploration, development, and production activities. The company has operations in various regions, including Gabon, Egypt, Canada, and Côte D’Ivoire, and is engaged in developing its diversified asset portfolio to drive future organic growth.
Average Trading Volume: 535
Technical Sentiment Signal: Sell
Current Market Cap: £258.2M
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