Vaalco Energy’s Strong Q2 Following Svenska Acquisition

Vaalco Energy (EGY) has released an update.

Vaalco Energy, Inc. has reported a successful second quarter in 2024, with a substantial net income of $28.2 million and increased production following the strategic acquisition of Svenska Petroleum Exploration AB. The company’s financial strength is evident from a significant rise in Adjusted EBITDAX and a robust cash position, despite substantial outlays for acquisition and dividends.

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