VAALCO Energy Inc. today reported operational and financial results for the third quarter of 2022. On October 13, 2022, VAALCO completed the business combination with TransGlobe Energy, Inc. ; as a result, the impact from the combination is not included in VAALCO's third quarter 2022 results but will be reported in the fourth quarter 2022 results. Third Quarter Highlights and Key Items: Reported Q3 2022 net income of $6.9 [...]
VAALCO Energy Inc. today announced the timing of its third quarter 2022 earnings release and conference call. The Company will issue its third quarter 2022 earnings release on Tuesday, November 8, 2022 after the close of trading on the New York Stock Exchange and host a conference call to discuss its financial and operational results on Wednesday morning, November 9, 2022 at 10:00 a.m. Central Time Interested parties in [...]
VAALCO Energy Inc. today announced that its newly-expanded Board of Directors formally ratified and approved the share buyback program that was announced on August 8, 2022 in conjunction with the pending business combination with TransGlobe. The Board also directed management to implement a Rule 10b5-1 trading plan to facilitate share purchases through open market purchases, privately-negotiated transactions, or otherwise [...]
VAALCO Energy Inc. declared its quarterly cash dividend of $0.0325 per share of common stock for the fourth quarter of 2022 , which is payable December 22, 2022, to stockholders of record at the close of business on November 22, 2022. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by the Board of Directors. George Maxwell, VAALCO's Chief [...]
VAALCO Energy Inc. today announced that Matthew Powers has joined VAALCO's senior leadership as Executive Vice President and General Counsel. Mr. Powers has nearly 20 years of legal experience with a focus on energy, and direct experience working on projects in Africa, including in Gabon and Egypt. George Maxwell, Chief Executive Officer, commented, "We are excited to have Matt joining VAALCO as our Executive Vice [...]
VAALCO Energy Inc. today announced successful completion of the Floating Storage and Offloading vessel installation and field reconfiguration at Etame. Additionally, the Company disclosed strong third quarter 2022 production which was above the high-end of quarterly guidance and sales volumes that were above the midpoint of quarterly guidance. Highlights Related to the FSO and field reconfiguration, VAALCO successfully [...]
TransGlobe Energy is pleased to announce that it has now closed its previously announced merger with VAALCO Energy by way of plan of arrangement pursuant to Section 193 of the Business Corporations Act. On October 14, 2022, it is expected that common shares of TransGlobe will be delisted on NASDAQ and trading of TransGlobe Common Shares on AIM will be cancelled, and the Toronto Stock Exchange delisting is expected to [...]
VAALCO Energy announced that the stockholders of TransGlobe Energy Corporation approved the proposed strategic business combination with VAALCO at a Special Meeting held earlier today. As previously disclosed, VAALCO’s stockholders approved the combination at its special meeting of stockholders held on September 29, 2022. George Maxwell, VAALCO’s Chief Executive Officer commented, “We are excited for this business [...]
VAALCO Energy announced that at VAALCO’s special meeting of stockholders held today regarding the proposed combination with TransGlobe Energy, both proposals were approved by VAALCO’s stockholders. At the special meeting, VAALCO’s stockholders voted (i) to approve an amendment to VAALCO’s Restated Certificate of Incorporation to increase VAALCO’s authorized shares of common stock from 100,000,000 shares to 160,000,000 [...]
VAALCO Energy announced the successful drilling of the North Tchibala 2H-ST well that was drilled from the Southeast Etame North Tchibala platform in the Etame field, offshore Gabon. Additionally, the Company provided an operational update on the Teli Floating Storage and Offloading vessel installation and field reconfiguration at Etame. Successfully drilled and cemented 9-5/8-inch casing string with multiple potentially [...]
VAALCO Energy announced that the Government of Equatorial Guinea has approved the Venus - Block P Plan of Development. VAALCO has an 80% participation interest in the project and is the operator. Upon the execution of final documents, VAALCO will proceed directly to project execution which targets first oil in 2026 and adds 23.1 million barrels of oil of 2P CPR gross reserves, and 18.5 MMBO of 2P CPR Working Interest [...]
VAALCO Energy and TransGlobe Energy announced today that they have entered into a definitive arrangement agreement pursuant to which VAALCO will acquire all of the outstanding common shares of TransGlobe in a stock-for-stock strategic business combination transaction valued at US$307 million. Under the terms of the Arrangement Agreement, VAALCO will acquire each TransGlobe share for 0.6727 of a VAALCO share of common [...]
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