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Vaalco Energy ( (EGY) ) has provided an update.
Vaalco Energy has agreed to sell all of its non-core producing properties in Canada to a third party for C$35 million (about US$25.6 million), divesting assets that currently contribute roughly 1,850 barrels of oil equivalent per day. The transaction, priced at 2.7 times the Canadian units’ trailing 12‑month operational cash flow, is intended to sharpen Vaalco’s focus on its core African portfolio and ongoing large-scale drilling campaigns, without affecting its borrowing base, and is framed by management as a move to unlock greater long-term value for shareholders by reallocating capital to higher-potential assets.
More about Vaalco Energy
Vaalco Energy, founded in 1985 and incorporated in Delaware, is a Houston-based independent energy company with a diversified portfolio of production, development and exploration assets across several West and Central African countries, including Gabon, Egypt, Côte d’Ivoire, Equatorial Guinea and Nigeria.
For an in-depth examination of EGY stock, go to TipRanks’ Overview page.