Vaalco Energy, Inc. · NYSE:EGY
Vaalco Energy — Corporate Update (February 2018)
8 slides from Vaalco Energy's corporate update, Feb 1, 2018
Slide 1: January 2018 Supplemental Presentation
January 2018 Supplemental Presentation Prepared In Conjunction With 1/31/18 Press Release VAALCO ENERGY, INC.
Slide 2: Safe Harbor Statement
Safe Harbor Statement This document includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this docum
Slide 3: VAALCO Overview
VAALCO Overview • Houston-based independent E&P • Excellent reputation as a West Africa operator • Gabon-focused with 100% oil production and reserves moving forward • Operational capacity to take on new assets and projects • $19.7 million cash and cash equivalents (3) • $9.2 million debt (4) Key Me
Slide 4: Highlights and Recent Key Items
Highlights and Recent Key Items • Produced an average of approximately 4,160 net BOPD for calendar 2017, at the high end of the previously - provided annual guidance range • Produced an average of 3,968 net BOPD in the fourth quarter of 2017, slightly below the guidance range, despite two ESP failur
Slide 5: Free Cash Flow Overview (2017E)
VAALCO Free Cash Flow Overview (2017E) Free cash flow breakeven occurs at $41/ bbl and operational breakeven at $30/ bbl Operational breakeven excludes workovers. Free cash flow excludes 2017E principal payments of $10.0mm (3) and workovers 2017 Operational Margin Per Barrel(1) $/BOE Sales $- $10.00
Slide 6: Free Cash Flow Overview (2018E)
VAALCO Free Cash Flow Overview (2018E) Free cash flow breakeven occurs at $38/ bbl and operational breakeven at $28/ bbl Operational breakeven excludes workovers. Free cash flow excludes 2018E principal payments of $6.7mm (3), drilling and completion CapEx , and workovers 2018 Operational Margin Per
Slide 7: Year End 2017 Reserves
VAALCO Year End 2017 Reserves 3.0 MMBO Net Proved Reserves for YE-2017 4.0 MMBO Net Proved + Probable (2P) Reserves for YE-2017 Replaced 127% of 2017 Production Net Proved Reserves, MMBO 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 Year End 2016 2017 Production Higher Pricing Performance Additions Year End 2017
Slide 8: Strategy
VAALCO Strategy We are committed to driving stockholder value by: • Operating in a safe and environmentally responsible manner • Increasing operational efficiencies and minimizing costs • Leveraging our existing infrastructure, technical expertise, and experience as a West Africa operator overseeing