VAALCO Energy (EGY) Enters Into Crude Oil Derivative Contracts

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VAALCO Enters Into Crude Oil Derivative Contracts

January 27, 2021 4:45 PM EST

HOUSTON, Jan. 27, 2021 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (VAALCO or the Company) today announced that it has entered into crude oil commodity swap agreements for a total of 709,262 barrels at a Dated Brent weighted average price of $53.10 per barrel for the period from and including February 2021 through January 2022.  These swaps will settle on a monthly basis. 

The Company is hedging a portion of its production volumes, excluding volumes attributable to acquiring Sasols interest in the Etame field, to protect cash flows which will be used to... More