VAALCO Energy press release (NYSE:EGY): Q3 Non-GAAP EPS of $0.07 misses by $0.07.
Revenue of $116.27M (+48.9% Y/Y) misses by $5.86M.
Achieved production of 18,844 net revenue interest (“NRI”)(1) barrels of oil equivalent per day , at the higher end of guidance, driven by operational uptime in Gabon and continued drilling success in Egypt.
Increased NRI sales to 1,812,000 barrels of oil equivalent (“BOE”), or 19,700 BOEPD above the midpoint of guidance.
Grew Adjusted EBITDAX(3) by 9% to $71.4 million compared to Q2 2023 and funded $22.5 million in capital expenditures from cash on hand and cash from operations during the third quarter of 2023.
