2024-03-09 08:00:00 ET
Summary
- VAALCO Energy, Inc. is a small oil and gas player with producing interests in Egypt, Gabon, and Canada.
- The company has been growing its dividend and share buybacks, generating almost $90 million in free cash flow in 2023.
- Vaalco Energy has several growth centers, including Egypt, Canada, and Gabon, and is evaluating locations for future drilling campaigns.
- Vaalco Energy, Inc. is a buy at current levels.
Introduction
VAALCO Energy, Inc. ( EGY ) is a small, primarily-West-African, oil and gas player with principle producing interests in Egypt and Gabon. We have discussed EGY once before . It has a long-term development prospect offshore Equatorial Guinea , with the Blk-P, Venus discovery, with first oil targeted to 2026. It also has a small position in Canada's Cardium/Ellerslie play. The Egyptian and Canadian positions came as a result of the merger with TransGlobe in 2022....
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Vaalco Energy: A New Catalyst For Growth In 2024