$EGY

VAALCO ENERGY INC /DE/

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Vaalco Energy: Q4 Earnings Snapshot

Vaalco Energy Inc. reported a Q4 loss of $58.6 million, or 56 cents per share, with adjusted losses at 2 cents per share. The oil and natural gas explorer recorded $91 million in revenue for the quarter. For the full year, the company had a loss of $41.4 million, or 40 cents per share, on revenues of $359.3 million.

Vaalco Energy surges after touting two positive wells offshore Gabon (EGY:NYSE)

Vaalco Energy saw a 5.3% surge in trading after announcing two successful well drillings at its Etame complex offshore Gabon. The company stated that the initial well in its Phase 3 multi-well development drilling program in its Etame license positively hit. This news indicates promising developments for Vaalco's operations in the region.