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VAALCO Energy, Inc. (EGY)

NYSE - Nasdaq Real Time Price. Currency in USD
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3.1200-0.1500 (-4.59%)
As of 12:22PM EST. Market open.
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Commodity Channel Index

Commodity Channel Index

Previous Close3.2700
Open3.2300
Bid3.1000 x 800
Ask3.1300 x 1200
Day's Range3.0600 - 3.3054
52 Week Range0.7000 - 3.4500
Volume139,088
Avg. Volume360,540
Market Cap179.263M
Beta (5Y Monthly)2.42
PE Ratio (TTM)N/A
EPS (TTM)-0.7540
Earnings DateMar 01, 2021 - Mar 09, 2021
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateJul 22, 2009
1y Target Est3.53
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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  • GlobeNewswire

    VAALCO Enters Into Crude Oil Derivative Contracts

    HOUSTON, Jan. 27, 2021 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“VAALCO” or the “Company”) today announced that it has entered into crude oil commodity swap agreements for a total of 709,262 barrels at a Dated Brent weighted average price of $53.10 per barrel for the period from and including February 2021 through January 2022. These swaps will settle on a monthly basis. The Company is hedging a portion of its production volumes, excluding volumes attributable to acquiring Sasol’s interest in the Etame field, to protect cash flows which will be used to fund the 2021/2022 drilling program. The Company will review its hedging positions following the closing of the Sasol acquisition which it expects will occur in February. Cary Bounds, Chief Executive Officer, commented, “We are pleased with the recent rise in crude oil prices that should further increase our free cash flow margins. We thought it prudent to hedge a portion of our production to underpin our cash flow to support the upcoming 2021/2022 drilling program. We will consider hedging additional volumes after we close on the acquisition of Sasol’s interest in the Etame field.” About VAALCO VAALCO, founded in 1985, is a Houston, USA based, independent energy company with production, development and exploration assets in the West African region. For additional information, please visit www.vaalco.com. The Company is an established operator within the region, holding a 33.6% participating interest in the Etame Marin block, located offshore Gabon, which to date has produced over 119 million barrels of crude oil and of which the Company is the operator. For Further Information VAALCO Energy, Inc. (General and Investor Enquiries)+00 1 713 623 0801Website:www.vaalco.com Al Petrie Advisors (US Investor Relations)+00 1 713 543 3422Al Petrie / Chris Delange Buchanan (UK Financial PR)+44 (0) 207 466 5000Ben Romney / Kelsey Traynor / James HusbandVAALCO@buchanan.uk.com Forward Looking Statements This document includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this document that address activities, events, plans, expectations, objectives or developments that VAALCO expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements may include statements related to the recent sharp decline in the global demand for and resulting global oversupply of crude oil and the resulting steep decline in oil prices, production quotas imposed by Gabon, wells anticipated to be drilled and placed on production, future levels of drilling and operational activity and associated expectations, the implementation of the Company’s business plans and strategy, its ability to restore production in non-producing wells, future operating losses, future changes in crude oil and natural gas prices, future strategic alternatives, future and pending acquisitions, capital expenditures, future drilling plans, timing of the settlement of Gabon income taxes, and expectations regarding processing facilities, production, sales and financial projections. These statements are based on assumptions made by VAALCO based on its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond VAALCO’s control. These risks include, but are not limited to, crude oil and natural gas price volatility, the failure of the transaction to close, the impact of production quotas imposed by Gabon in response to production cuts agreed to as a member of OPEC, inflation, general economic conditions, the outbreak of COVID-19, the Company’s success in discovering, developing and producing reserves, production and sales differences due to timing of liftings, decisions by future lenders, the risks associated with liquidity, drilling risks, foreign regulatory and operational risks, and regulatory changes. Investors are cautioned that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. VAALCO disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Inside Information This announcement contains inside information as defined in Regulation (EU) No. 596/2014 on market abuse (“MAR”) and is made in accordance with the Company’s obligations under article 17 of MAR.

  • How Much Of VAALCO Energy, Inc. (NYSE:EGY) Do Insiders Own?
    Simply Wall St.

    How Much Of VAALCO Energy, Inc. (NYSE:EGY) Do Insiders Own?

    The big shareholder groups in VAALCO Energy, Inc. ( NYSE:EGY ) have power over the company. Institutions will often...

  • VAALCO Announces Etame Acquisition Update: Other Joint Owners in Etame Have Not Exercised Their Pre-Emptive Rights to Acquire an Additional Interest in the Field
    GlobeNewswire

    VAALCO Announces Etame Acquisition Update: Other Joint Owners in Etame Have Not Exercised Their Pre-Emptive Rights to Acquire an Additional Interest in the Field

    HOUSTON, Dec. 21, 2020 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“VAALCO” or the “Company”) today announced that, in connection with VAALCO’s previously announced acquisition from Sasol Gabon S.A. (“Sasol”) of Sasol’s 27.8% working interest(1) in the Etame Marin block offshore Gabon, the other joint owners in the Etame Marin block have not exercised their pre-emptive rights. As a result, VAALCO will now move forward with acquiring Sasol’s entire working interest in the field. In regard to Block DE-8 offshore Gabon, the 60% operated participating interest owner, Perenco, has exercised its preferential rights. As a result, Perenco is acquiring Sasol’s 40% non-operated participating interest(1), releasing VAALCO from the potential obligation to drill an appraisal well. VAALCO will not be subject to any contingency payments due regarding Block DE-8. The terms of the sale and purchase agreement did not attribute a material value to the undeveloped resource at Block DE-8, as such, the purchase price for Sasol’s 27.8% working interest(1) of $44 million less customary post-effective date adjustments has not changed. The maximum future contingency payments have been reduced from $6 million to $5 million.Additional details regarding the transaction were included in a news release issued on November 17, 2020. Since VAALCO currently owns and operates a 31.1% working interest(1) in Etame, the transaction will almost double VAALCO’s total production and reserves.Cary Bounds, Chief Executive Officer, commented, “We are excited to move forward with this very attractive and value accretive acquisition. Based on production performance in November, our production capacity, including volumes acquired from Sasol, would be over 9,000 barrels of oil per day and with the recent increase in oil pricing, this should significantly boost our free cash flow profile in 2021. In addition, this transaction is lowering our breakeven cost per barrel by increasing production with minimal increases to G&A expense. While we are disappointed that we will not be participating in Block DE-8, this eliminates the cost to drill the appraisal well, thereby reducing our overall capital commitment in 2021 by between $7 million and $9 million and removes the $1 million potential contingency obligation. We are even more confident in the future for VAALCO and this acquisition coupled with the new proprietary 3-D seismic data we are processing over the entire Etame Marin block will allow us to maximize the value of our Gabon resources. We are well positioned to profitably grow and generate free cash flow in the near and long-term which should enhance value for our shareholders.”(1)Prior to the closing of the acquisition, VAALCO’s working interest in Etame is 31.1% and its participating interest is 33.6%; Sasol’s working interest in Etame is 27.8% and its participating interest is 30%. All NRI production rates and volumes are based on working interest less 13% royalty volumes. Sasol’s participating interest in DE-8 is 40% and its working interest is subject to government rights for a 20% carried interest and 10% back-in interest.  An updated investor deck with additional information is available at www.vaalco.com under the Investor Relations section.About VAALCOVAALCO, founded in 1985, is a Houston, USA based, independent energy company with production, development and exploration assets in the West African region.The Company is an established operator within the region, holding a 33.6% participating interest in the Etame Marin block, located offshore Gabon, which to date has produced over 119 million barrels of crude oil and of which the Company is the operator.For Further Information   VAALCO Energy, Inc. (General and Investor Enquiries)+00 1 713 623 0801 Website:www.vaalco.com       Al Petrie Advisors (US Investor Relations)+00 1 713 543 3422 Al Petrie / Chris Delange     Buchanan (UK Financial PR)+44 (0) 207 466 5000 Ben Romney / Kelsey Traynor / James HusbandVAALCO@buchanan.uk.com Forward Looking Statements This document includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this document that address activities, events, plans, expectations, objectives or developments that VAALCO expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements may include statements related to the impact of the COVID-19 pandemic, including the recent sharp decline in the global demand for and resulting global oversupply of crude oil and the resulting steep decline in oil prices, production quotas imposed by Gabon, disruptions in global supply chains, quarantines of our workforce or workforce reductions and other matters related to the pandemic, well results, wells anticipated to be drilled and placed on production, future levels of drilling and operational activity and associated expectations, the implementation of the Company’s business plans and strategy, prospect evaluations, prospective resources and reserve growth, its activities in Equatorial Guinea, expected sources of and potential difficulties in obtaining future capital funding and future liquidity, its ability to restore production in non-producing wells, future operating losses, future changes in crude oil and natural gas prices, future strategic alternatives, future and pending acquisitions, capital expenditures, future drilling plans, acquisition and interpretation of seismic data and costs thereof, negotiations with governments and third parties, timing of the settlement of Gabon income taxes, and expectations regarding processing facilities, production, sales and financial projections. These statements are based on assumptions made by VAALCO based on its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond VAALCO’s control. These risks include, but are not limited to, crude oil and natural gas price volatility, the failure of the transaction to close, the impact of production quotas imposed by Gabon in response to production cuts agreed to as a member of OPEC, inflation, general economic conditions, the outbreak of COVID-19, the Company’s success in discovering, developing and producing reserves, production and sales differences due to timing of liftings, decisions by future lenders, the risks associated with liquidity, lack of availability of goods, services and capital, environmental risks, drilling risks, foreign regulatory and operational risks, and regulatory changes.Investors are cautioned that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. VAALCO disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.Inside InformationThis announcement contains inside information as defined in Regulation (EU) No. 596/2014 on market abuse (“MAR”) and is made in accordance with the Company’s obligations under article 17 of MAR.