Investor Presentaiton
2023 Full Year Guidance
(As of November 7, 2023)
Q4 2023
FY 2023
WI Production¹ (BOEPD)
Gabon
Egypt
9,400 - 10,100
11,100 - 11,800
Canada
2,400 - 2,700
Total VAALCO WI Production
22,900 24,600
9,950 - 10,200
10,900 11,400
2,600 - 2,800
23,450 - 24,400
NRI Production¹ (BOEPD)
Total VAALCO NRI Production
17,600 19,400
18,300 18,900
WI Sales (BOEPD)
Gabon
Egypt
Canada
Total VAALCO WI Sales
NRI Sales (BOEPD)
Total VAALCO NRI Sales
11,800 13,100
11,100 11,800
-
2,400 - 2,700
25,300 - 27,600
9,550 - 9,800
10,900 11,400
2,600 - 2,800
23,050 - 24,000
19,800 - 22,000
17,900 - 18,500
Production Expense² (millions)
Production Expense per WI BOE
$42.2 - $47.6
$16.00
$21.00
Production Expense per NRI BOE
$21.00 - $26.50
Offshore Workovers (millions)
$0 - $0
$154.0 $160.0
$17.00 $19.50
$22.00 - $25.00
$0 - $0
Cash G&A³ (millions)
CAPEX (millions)
DD&A ($/BO)
FY Commentary
Increased range due to production optimization and improved uptime
Increased range due to better than expected 2023 drilling results
Increased range due to better than expected 2023 drilling results
Increased range slightly due to Gabon SEENT pipeline repairs and cost inflation
Higher sales almost completely offset higher costs on a per BOE basis
Higher sales almost completely offset higher costs on a per BOE basis
$4.0-$6.0
$9.5 - $12.0
$20.00 - $22.00
$18.0 - $21.0
$71.0 - $75.0
$20.00 - $22.00
Reducing capex range driven by capital efficiency in Egypt and Canada
1) WI is Working interest to VAALCO and NRI is net of royalties
2) Excludes offshore workover expense and stock-based compensation
3) Excludes stock-based compensation
Slide 20View entire presentation