Investor Relations

Latest Financial Results

May 8, 2025 • 5:04 PM EDT

Q1 2025 Quarterly Results

Quarter Ended Mar 31, 2025

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Earnings Webcast
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$57.0M
<p>Adjusted EBITDAX<sup id="statRef0-1-1">(1)</sup>&nbsp;of $57.0 million</p>
17,764
<p>Produced&nbsp;17,764&nbsp;net revenue interest (“NRI”)<sup>(2)</sup>&nbsp;barrels of oil equivalent per day (“BOEPD”), above the high end of guidance, or&nbsp;22,402&nbsp;working interest (“WI”)<sup>(3)</sup>&nbsp;BOEPD</p>
$40.9M
<p>Unrestricted cash balance of $40.9 million.</p>

1. Adjusted EBITDAX, Adjusted Net Income, Adjusted Working Capital and Free Cash Flow are Non-GAAP financial measures and are described and reconciled to the closest GAAP measure in the Q1 2025 earnings release.

2. All NRI sales and production rates are Vaalco's working interest volumes less royalty volumes, where applicable.

3. All WI production rates and volumes are Vaalco's working interest volumes, where applicable.

Source Q1 2025 Earnings Press Release

For complete information regarding our financials, see our periodic filings

* Non-GAAP Financial Measures. View full reconciliation in our Q1 earnings press release.

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Q1 2025

Quarter Ended Mar 31, 2025

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$57.0M
<p>Adjusted EBITDAX<sup id="statRef0-1-1">(1)</sup>&nbsp;of $57.0 million</p>
17,764
<p>Produced&nbsp;17,764&nbsp;net revenue interest (“NRI”)<sup>(2)</sup>&nbsp;barrels of oil equivalent per day (“BOEPD”), above the high end of guidance, or&nbsp;22,402&nbsp;working interest (“WI”)<sup>(3)</sup>&nbsp;BOEPD</p>
$40.9M
<p>Unrestricted cash balance of $40.9 million.</p>

1. Adjusted EBITDAX, Adjusted Net Income, Adjusted Working Capital and Free Cash Flow are Non-GAAP financial measures and are described and reconciled to the closest GAAP measure in the Q1 2025 earnings release.

2. All NRI sales and production rates are Vaalco's working interest volumes less royalty volumes, where applicable.

3. All WI production rates and volumes are Vaalco's working interest volumes, where applicable.

Source Q1 2025 Earnings Press Release


For complete information regarding our financials, see our periodic filings.

* Non-GAAP Financial Measures. View full reconciliation in our Q1 earnings press release.

For Fiscal Year Ending Dec 31, 2024

Latest Annual Report

For Fiscal Year Ending Dec 31, 2024

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Driving Global E&P Growth and Sustainability

Founded in 1985, Vaalco Energy is a Texas-based a leading African-focused oil & gas operating company with a strong production and reserve base and a diverse portfolio of assets in Côte d'Ivoire, Egypt, Equatorial Guinea, Gabon and Canada. Through operational excellence, sustainable practices and a deep understanding of the regions we operate in, we strive to maximize shareholder value and deliver positive impact for our wider stakeholders.

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Vaalco Energy at a Glance

1985

Founded

5

Areas of Operation

24,738 BOEPD

Working Interest Production

As of Dec. 31, 2024 • 2024 Annual Report

Crude Oil Reserves in FY 2024

Net Proved Reserves

(in millions of BOE)

Year Amount
2021 11200000
2022 27900000
2023 28600000
2024 45000000

As of Dec. 31, 2024 • 2024 Annual Report

MMBOE - Millions Of Barrels Of Oil Equivalent

Working Interest Production

(in barrels of oil equivalent)

Year Amount
2021 8734
2022 12177
2023 23946
2024 24738

As of Dec. 31, 2024 • 2024 Annual Report

MMBOE - Millions Of Barrels Of Oil Equivalent

For complete information regarding our financials, see our periodic filings.

Pioneering Sustainable Principles

We are deeply committed to the ESG principles that guide our business practices and operations. Our dedication is fueled by our growth trajectory, operational excellence, and shareholder value creation.

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Drill Down Deeper into Our Operations

Canada

<p>In Harmattan, Canada, we maintain production and working interests in Cardium light oil and Mannville liquids-rich gas assets. These resources are extracted from zones within the Lower Mannville and Rock Creek formations</p>

View Our Canada Operations

Côte d'Ivoire

<p>We diversified our portfolio by entering Côte d'Ivoire in 2024. We acquired a 27.4% non-operated working interest in Block CI-40, offshore Côte d’Ivoire, containing the deepwater producing Baobab field and the significant Kossipo discovery.</p>

View Our Côte d'Ivoire Operations

Egypt

<p>In Egypt, our operations span two distinct regions: the Eastern Desert and the Western Desert. The Eastern Desert merged concession covers approximately 45,067 acres, while the South Ghazalat concession in the Western Desert encompasses around 7,340 acres.</p>

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Gabon

<p>Vaalco holds a 58.8% working interest in and operates the Etame Marin block, located offshore Gabon.</p>

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Equatorial Guinea

<p>Vaalco holds a 60% working interest in and is the operator of Block P, located offshore Equatorial Guinea. Block P contains the Venus field development opportunity, along with further material contingent and prospective resource.</p>

View Our Equatorial Guinea Operations

IR Contacts

Corporate Office

Vaalco Energy
2500 Citywest Blvd
Suite 400
Houston, TX 77042
T: +1 713 623 0801

Investor Relations

Al Petrie Advisors
(US Investor Relations)
T: +1 713-543-3422
apetrie@vaalco.com

Buchanan
(UK PR)
T: +44 (0) 207 466 5000
vaalco@buchanan.uk.com

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Louisville, KY 40202
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