24/7 Market News Snapshot 14 March, 2025 – Vaalco Energy, Inc. (NYSE:EGY)

March 14, 2025

DENVER, Colo., 14 March, 2025 (247marketnews.com) – (NYSE:EGY) are discussed in this article.
Vaalco Energy, Inc. has demonstrated impressive market performance recently, with its stock opening at $4.03 and trading as high as $4.325, marking an increase of approximately 14.12% following a previous close of $3.79. The current trading volume of 1.71 million shares signals a rise in investor interest, showcasing the company’s potential for continued upward momentum. Key resistance levels may appear around $4.50, while support is anticipated at the $4.00 mark. Observing the robust trading activity, market participants are advised to monitor EGY closely for further trends within the energy sector.

In addition to market performance, Vaalco Energy has released its fourth-quarter and full-year results for 2024, reflecting a strong operational and financial standing amidst fluctuating commodity prices. The company reported a net income of $11.7 million for the fourth quarter and $58.5 million for the full year. Adjusted EBITDAX surged to $76.2 million for Q4 and $303 million annually, highlighting ongoing operational efficiency.

Production levels remained robust, with Q4 average production hitting 20,775 barrels of oil equivalent per day (BOEPD), while full-year average production grew 7% year-over-year to 19,936 NRI BOEPD. Notably, Vaalco’s reserves increased by 57% to 45 million barrels of oil equivalent by year-end, bolstered by its acquisition strategy, including the purchase of Svenska Petroleum Exploration AB.

Looking ahead to 2025, Vaalco is planning a capital budget of $270 to $330 million, focusing on drilling initiatives in Côte d’Ivoire, Egypt, and Canada, along with refurbishing its floating production storage and offloading (FPSO) vessel. With a new revolving credit facility of up to $300 million secured, Vaalco is poised to enhance its growth trajectory and deliver sustainable shareholder value. CEO George Maxwell expressed optimism about the company’s future, emphasizing a strong commitment to operational excellence and continued shareholder returns.

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