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First Quarter 2022 Results – Vaalco Energy Inc.

Vaalco Energy Inc. · May 1, 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. First Quarter 2022 Results – Vaalco Energy Inc. – slide 1
    www.vaalco.com Q1 2022 Supplemental Information PROFITABLY AND SUSTAINABLY GROWING IN WEST AFRICA
  2. First Quarter 2022 Results – Vaalco Energy Inc. – slide 2
    Q1 AND RECENT OPERATIONAL HIGHLIGHTS Continued Strong Performance www.vaalco.com Increased production by 7% quarter-over-quarter to 8,051 net BOPD Exit rate for Q1 2022 production increased to approximately 9,500 net BOPD Sold…
  3. First Quarter 2022 Results – Vaalco Energy Inc. – slide 3
    Q1 AND RECENT FINANCIAL HIGHLIGHTS1 Continued Strong Performance www.vaalco.com Announced quarterly cash dividend payment of 0.0325 per common Adjusted EBITDAX share to be paid in Q2 2022 and physically paid initial dividend of…
  4. First Quarter 2022 Results – Vaalco Energy Inc. – slide 4
    STEP CHANGE IN TOTAL PRODUCTION AND RESERVES Significant Increase in Size and Scale www.vaalco.com Production Outlook Proved NRI Reserves(1) (MMBO) 12,500 12.0 9.0 11.2 6.0 10,000 10,000 10,000 3.0 250% 3.2 Increase -…
  5. First Quarter 2022 Results – Vaalco Energy Inc. – slide 5
    YEAR-END 2021 RESERVES Proved NRI Reserve Reconciliation 2020 to 2021 (MMBO) www.vaalco.com 16.0 14.0 12.0 2.6 5.0 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…
  6. First Quarter 2022 Results – Vaalco Energy Inc. – slide 6
    2021/22 DRILLING CAMPAIGN Converting Capital Into Additional Scale and Production www.vaalco.com 2021/2022 Drilling Program Successfully drilled, completed and placed on production the first two development wells of the 2021/2022…
  7. First Quarter 2022 Results – Vaalco Energy Inc. – slide 7
    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.…
  8. First Quarter 2022 Results – Vaalco Energy Inc. – slide 8
    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…
  9. First Quarter 2022 Results – Vaalco Energy Inc. – slide 9
    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…
  10. First Quarter 2022 Results – Vaalco Energy Inc. – slide 10
    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 May 2022 to June 2022 Swaps Dated Brent 230,000…
  11. First Quarter 2022 Results – Vaalco Energy Inc. – slide 11
    2022 NETBACKS SIGNIFICANTLY IMPROVED COMPARED TO 2021 90 REALIZED OIL www.vaalco.com Oil Price: 90 per barrel 2022 Margins at 0.59 0.80 90 Realized Oil 20.88 10.17 3.73 53.83 and Midpoint of Guidance 0 90 Oil Price:…
  12. First Quarter 2022 Results – Vaalco Energy Inc. – slide 12
    WORKING CAPITAL CHANGES www.vaalco.com 22.2 26.4 6.7 (0.7) 4.0 5.7 (1) Trade AR for March Lifting Collected in April, Timing of Cash Calls and Current Taxes Were the Main Drivers of Working Capital Changes 1) Other…
  13. First Quarter 2022 Results – Vaalco Energy Inc. – slide 13
    2022 GUIDANCE (As of May 3, 2022) www.vaalco.com Q2 2022 FY 2022 Production (BOPD) WI(1) 11,500 12,350 10,900 12,050 NRI(1) 10,000 10,700 9,500 10,500 Sales Volume (BOPD) WI(1) 12,300 13,000 10,900 12,050 NRI(1) 10,700 - 11,300…
  14. First Quarter 2022 Results – 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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