NYSE$EGY
VAALCO Energy Inc · Q4 2020 earnings
Q4 2020 earnings · · Investor relations
Briefing
Reported operational and financial results with increased production and strategic acquisition.
VAALCO Energy reported a net loss of $3.6 million for Q4 2020, impacted by exploration expenses and a delayed lifting, though production increased due to new development wells. The company closed the Sasol acquisition, nearly doubling net production and reserves, and is planning a new drilling campaign.
- Closed the acquisition of Sasol's working interest in the Etame field, nearly doubling VAALCO's net production and reserves.
- Q4 2020 net production averaged 4,662 NRI BOPD.
- Reported a net loss of $3.6 million ($0.06 per diluted share) and Adjusted EBITDAX of $3.5 million for Q4 2020.
- Maintained a strong balance sheet with $47.9 million in cash and no debt as of December 31, 2020.
Headline financials
Revenue & EPS history
VAALCO · Revenue · Quarterly
$12.6M
Forward guidance
VAALCO anticipates increased production and sales volumes in 2021, driven by the Sasol acquisition, but also forecasts higher production expenses. The company is planning a drilling campaign and evaluating alternatives for its FPSO contract.
Tailwinds
- Full year 2021 NRI production is estimated to be between 6,800 and 7,400 BOPD.
- Sales NRI volumes for 2021 are estimated to average 7,100 to 7,800 BOPD.
- VAALCO closed acquisition of Sasol’s interest in Etame field
- VAALCO is planning for the commencement of the next drilling campaign at Etame in late 2021 or early 2022.
- VAALCO estimates its net capital expenditures, excluding the 2021 drilling campaign and seismic, to total $3.0 million to $6.0 million.
Headwinds
- All of VAALCO’s production estimates for 2021 include an estimated 15% annual natural decline in production.
- VAALCO’s production expense guidance (excluding workovers) for full year 2021 is expected to be between $69 million and $77 million.
- VAALCO expects net capital expenditures, excluding any costs associated with the planned 2021 drilling campaign and seismic, to be in the range of $2.0 million to $3.0 million for Q1 2021.
- VAALCO is currently considering several alternatives regarding the leased FPSO for which the contract will expire in September 2022.
- VAALCO expects to continue to take proactive steps to manage any disruption in its business caused by COVID-19
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 2020
-0.6%
Avg return
Earnings day
-0.4%
Avg return
5 days after
+2.4%
Avg return
30 days after
38%
25 / 65 earnings
Positive
+41.4%
Q1 2018
Best reaction
-25.5%
Q2 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +8.0% | +6.4% | -0.9% | |
| Q4 2025 | -4.6% | -0.2% | +2.8% | |
| Q3 2025 | -4.3% | -2.5% | -10.9% | |
| Q1 2025 | -0.3% | +3.8% | +0.0% | |
| Q4 2024 | +14.2% | +6.3% | -11.6% | |
| Q3 2024 | -3.2% | -6.2% | -10.9% | |
| Q2 2024 | +8.4% | +2.8% | -5.5% | |
| Q1 2024 | -4.6% | -2.2% | -6.0% | |
| Q4 2023 | +23.0% | +35.2% | +57.2% | |
| Q3 2023 | -10.2% | -7.2% | +3.7% | |
| Q2 2023 | +9.9% | +13.1% | -1.2% | |
| Q1 2023 | -9.6% | -13.2% | -1.4% | |
| Q4 2022 | -14.4% | -15.6% | -13.4% | |
| Q3 2022 | -5.0% | +3.7% | -8.5% | |
| Q2 2022 | +4.2% | +0.6% | -5.2% | |
| Q1 2022 | +4.4% | +1.4% | +27.5% | |
| Q4 2021 | -4.1% | -19.6% | +9.0% | |
| Q3 2021 | +17.7% | +21.1% | -7.6% | |
| Q2 2021 | -2.6% | -10.7% | -8.1% | |
| Q1 2021 | -7.0% | +3.7% | +19.6% | |
| Q4 2020 | -6.2% | -9.5% | -29.5% | |
| Q3 2020 | +9.6% | +26.9% | +83.4% | |
| Q2 2020 | -3.4% | +1.7% | -8.4% | |
| Q1 2020 | -6.1% | -3.7% | +45.3% | |
| Q4 2019 | -2.3% | -27.7% | -45.3% | |
| Q3 2019 | +1.0% | +0.0% | +1.0% | |
| Q2 2019 | +0.0% | +6.5% | +8.2% | |
| Q1 2019 | -10.9% | -25.1% | -28.0% | |
| Q4 2018 | -1.3% | -4.3% | +3.4% | |
| Q3 2018 | +3.3% | -7.5% | -22.6% | |
| Q2 2018 | -25.5% | -12.3% | -20.5% | |
| Q1 2018 | +41.4% | +36.0% | +107.2% | |
| Q4 2017 | -3.7% | -6.3% | -14.3% | |
| Q3 2017 | -7.1% | -3.9% | -14.7% | |
| Q2 2017 | -5.2% | -10.0% | -16.4% | |
| Q1 2017 | +8.0% | +15.3% | -3.1% | |
| Q4 2016 | -13.7% | -11.6% | +0.0% | |
| Q3 2016 | -2.4% | -1.9% | +13.0% | |
| Q2 2016 | +1.5% | +2.9% | +5.8% | |
| Q1 2016 | -6.6% | — | — | |
| Q4 2015 | +6.0% | — | — | |
| Q3 2015 | -6.0% | — | — | |
| Q2 2015 | +9.7% | — | — | |
| Q1 2015 | -8.3% | — | — | |
| Q4 2014 | -21.4% | — | — | |
| Q3 2014 | -0.4% | — | — | |
| Q2 2014 | +17.0% | — | — | |
| Q1 2014 | -21.6% | — | — | |
| Q4 2013 | +15.4% | — | — | |
| Q3 2013 | +12.7% | — | — | |
| Q2 2013 | +0.2% | — | — | |
| Q1 2013 | -6.9% | — | — | |
| Q4 2012 | -9.7% | — | — | |
| Q4 2009 | -9.7% | — | — | |
| Q3 2012 | -1.8% | — | — | |
| Q2 2012 | -5.0% | — | — | |
| Q1 2011 | -2.9% | — | — | |
| Q1 2012 | -2.9% | — | — | |
| Q4 2011 | +13.7% | — | — | |
| Q3 2011 | -8.3% | — | — | |
| Q3 2010 | -8.3% | — | — | |
| Q2 2010 | +0.5% | — | — | |
| Q2 2011 | +0.5% | — | — | |
| Q4 2010 | +0.5% | — | — | |
| Q1 2010 | +6.1% | — | — |
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