VAALCO Energy has provided an operational update that includes record production and sales volumes for 2024.
Highlights and Key Items:
- Recorded full year 2024 sales volumes of 24,100 to 24,600 working interest (“WI”) barrels of oil equivalent per day (“BOEPD”), at the midpoint of its guidance range of 23,500 to 25,100 WI BOEPD;
- Full year 2024 sales volumes were 19,400 to 19,800 net revenue interest (“NRI”) BOEPD, at the midpoint of the Company’s guidance range of 18,800 to 20,300 NRI BOEPD;
- Generated Q4 2024 sales volumes of about 23,600 to 24,000 WI BOEPD, or 19,100 to 19,500 NRI BOEPD, both within guidance;
- Produced between 24,550 and 25,050 WI BOEPD for full year 2024, in line with the midpoint of its full year guidance range of 24,100 to 25,400 WI BOEPD;
- Full year 2024 production volumes were 19,800 to 20,200 NRI BOEPD, above the midpoint of the Company’s guidance range of 19,300 to 20,600 NRI BOEPD; and
- Delivered Q4 2024 production of about 25,100 to 25,600 WI BOEPD, or 20,600 to 21,000 NRI BOEPD, in line with guidance.
George Maxwell, Vaalco’s Chief Executive Officer commented, 'We completed another successful year in 2024 where the Company achieved record operational performance. As we look forward to 2025, we are excited about the major projects that we have planned which are expected to deliver a step-change in organic growth across our portfolio in the coming years. I am proud of what we have accomplished over the past several years and believe that we are well-positioned to take Vaalco to another level with the opportunities we plan to pursue. We remain focused on maximizing value and generating strong operational cash flow to fund our numerous organic opportunities moving forward, all while continuing to return capital to our shareholders through the quarterly dividend policy.'
Source: VAALCO Energy
