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Q4 2021 Presentation – Vaalco Energy Inc.

Vaalco Energy Inc. · Mar 9, 2022 · 14 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q4 2021 Presentation – Vaalco Energy Inc. – slide 1
    www.vaalco.com Q4 2021 Supplemental Information PROFITABLY AND SUSTAINABLY GROWING IN WEST AFRICA
  2. Q4 2021 Presentation – Vaalco Energy Inc. – slide 2
    TRANSFORMATIVE RESULTS THROUGH FOCUSED EXECUTION www.vaalco.com Revenue & Price 197% Total Revenues (millions) 75% Avg Realized Price (US/BBL) 2021 199 2020 67 2021 71 2020 40 Crude Sales 2,711 MBls up 67% Oil price showing strong…
  3. Q4 2021 Presentation – Vaalco Energy Inc. – slide 3
    Q4 AND RECENT OPERATIONAL HIGHLIGHTS Continued Strong Performance www.vaalco.com Increased year-end 2021 SEC proved reserves by 250% to 11.2 MMBO, and increased year-end 2P CPR reserves by 88% to Safety is a Priority 19.5 MMBO…
  4. Q4 2021 Presentation – Vaalco Energy Inc. – slide 4
    Q4 AND RECENT FINANCIAL HIGHLIGHTS1 Continued Strong Performance www.vaalco.com Adopted sustainable, quarterly cash dividend with 1st Adjusted EBITDAX dividend payment to be made March 2022 95 Generated Adjusted EBITDAX of 22.6…
  5. Q4 2021 Presentation – Vaalco Energy Inc. – slide 5
    STEP CHANGE IN TOTAL PRODUCTION AND RESERVES Significant Increase in Size and Scale www.vaalco.com Production Outlook Proved NRI Reserves(1) (MMBO) 10,000 12.0 10,000 9.0 11.2 6.0 7,500 8,150 3.0 250% 3.2 Increase 7,119 -…
  6. Q4 2021 Presentation – Vaalco Energy Inc. – slide 6
    YEAR-END 2021 RESERVES Proved NRI Reserve Reconciliation 2020 to 2021 (MMBO) www.vaalco.com 16.0 14.0 12.0 2.6 2.2 10.0 11.2 8.0 2.6 6.0 3.0 4.0 2.0 3.2 0.0 Year End 2020 Higher Pricing Sasol Acquisition…
  7. Q4 2021 Presentation – Vaalco Energy Inc. – slide 7
    2021/22 DRILLING CAMPAIGN Converting Capital Into Additional Scale and Production www.vaalco.com 2021/2022 Drilling Program Initiated drilling campaign in December with the Etame 8H-ST development well Successfully placed on…
  8. Q4 2021 Presentation – Vaalco Energy Inc. – slide 8
    NEW LOWER COST FSO SOLUTION for 2022 and Beyond www.vaalco.com FSO conversion is proceeding in-line with the project The Nautipa FPSO at Etame is owned and timelines and expected delivery schedules for the operated by BW Offshore.…
  9. Q4 2021 Presentation – Vaalco Energy Inc. – slide 9
    PROVISIONALLY AWARDED OFFSHORE BLOCKS IN GABON Consortium with VAALCO, BW Energy and Panoro Energy www.vaalco.com BW Energy VAALCO Panoro Energy Consortium provisionally awarded two blocks in the 12th Offshore Licensing Round in…
  10. Q4 2021 Presentation – Vaalco Energy Inc. – slide 10
    FUTURE GROWTH POTENTIAL Maximizing the Value in VAALCOs Portfolio www.vaalco.com VENUS EUROPA SW GRANDE DISCOVERY DISCOVERY PROSPECT 15.5 23.8 7.9 164.4 million BOE million BOE million BOE unrisked gross unrisked gross unrisked…
  11. Q4 2021 Presentation – Vaalco Energy Inc. – slide 11
    HEDGING Materially Derisking Funding of 2021/2022 Drilling Campaign and FSO Solution www.vaalco.com 2022 Settlement Period Type of Contract Index Barrels Weighted Average Price March 2022 to June 2022 Swaps Dated Brent 460,000…
  12. Q4 2021 Presentation – Vaalco Energy Inc. – slide 12
    POTENTIAL INDICATIVE NETBACKS WITH INCREASED PRODUCTION AND LOWER OPEX www.vaalco.com Oil Price: 75 per barrel 2022 Margins at 0.59 0.80 75 Realized Oil 20.88 7.74 3.73 41.24 and Midpoint of Guidance 0 75 Oil Price:…
  13. Q4 2021 Presentation – Vaalco Energy Inc. – slide 13
    2022 GUIDANCE (As of March 9, 2022) www.vaalco.com Q1 2022 FY 2022 Production (BOPD) WI(1) 9,200 9,550 10,900 12,050 NRI(1) 8,000 8,300 9,500 10,500 Sales Volume (BOPD) WI(1) 7,600 7,950 10,900 12,050 NRI(1) 6,600 - 6,900 9,500 -…
  14. Q4 2021 Presentation – Vaalco Energy Inc. – slide 14
    CONTACT www.vaalco.com CORPORATE OFFICE BRANCH OFFICE 9800 Richmond Avenue, VAALCO Gabon SA Suite 700, Houston, Texas 77042 B.P. 1335, Port Gentil, Gabon T 713.623.0801 T +241-(0)1-56-55-29 F 713.623.0982 E vaalcovaalco.com…

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