VAALCO Energy (EGY) Misses Q1 EPS by 5c

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Go back to VAALCO Energy (EGY) Misses Q1 EPS by 5c

VAALCO Energy, Inc. Announces First Quarter 2016 Results

May 5, 2016 7:15 PM EDT

HOUSTON, May 05, 2016 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY) today reported results for the first quarter of 2016.

First Quarter 2016 and recent highlights:

Received $19 million payment from VAALCOs Angola Block 5 partner on March 14, 2016.Realized better-than-forecasted cost reductions with first quarter net production expense per barrel of oil equivalent (BOE) of sales of $16.95 per BOE, down 25% compared with $22.50 per BOE in the first quarter of 2015. Reduced total general and administrative (G&A) expenses to $3.0 million, down 39% from $4.9 million in... More