VAALCO Energy, Inc. (NYSE:EGY) Q1 2023 Earnings Conference Call May 10, 2023 11:00 AM ET

Company Participants

Chris Delange - Investor Relations Coordinator

George Maxwell - Chief Executive Officer

Ron Bain - Chief Financial Officer

Conference Call Participants

John White - ROTH Capital

Stephane Foucaud - Auctus Advisors

Charlie Sharp - Canaccord

Jeff Robertson - Water Tower Research

Bill Dezellem - Tieton Capital

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the VAALCO Energy First Quarter 2023 Conference Call. [Operator Instructions] This conference is being recorded, and a replay will be made available on the company's website following the call.

I would now like to turn the conference over to Chris Delange, Investor Relations Coordinator. Please go ahead.

Chris Delange

Thank you, operator. Good morning, everyone, and welcome to VAALCO Energy's first quarter 2023 conference call. After I cover the forward-looking statements, George Maxwell, our CEO, will review key highlights along with operational results. Ron Bain, our CFO, will then provide a more in-depth financial review. George will then return for some closing comments before we take your questions.

During our question-and-answer session, we ask you to limit your questions to one and a follow-up. You can always re-enter the queue with additional questions. I would like to point out that we posted a first quarter 2023 supplemental investor deck on our website this morning that has additional financial analysis, comparisons, and guidance that should be helpful. With that, let me proceed with our forward-looking statement comments.

During the course of this conference call, the company will be making forward-looking statements. Investors are cautioned that forward-looking statements are not guarantees of future performance, and those actual results or developments may differ materially from those projected in the forward-looking statements. VAALCO disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Accordingly, you should not place undue reliance on forward-looking statements. These and other risks are described in yesterday's press release, the presentation posted on our website and in the reports we file with the SEC, including the Form 10-K and Forms 10-Q. Please note that this conference call is being recorded.

Let me turn the call over to George.

George Maxwell

Thank you, Chris. Good morning, everyone, and welcome to our first quarter 2023 earnings conference call. We have had a lot to review in each of our calls over the last year, but today's prepared comments will be pleasantly shorter. We have made significant progress integrating TransGlobe into VAALCO and are now focused on optimizing production, managing our costs, fine-tuning our operations, and allocating capital to drilling, future growth plans and shareholder returns. This was our first full quarter of reporting as a combined company following the transformational combination with TransGlobe, which has built a business of scale with a stronger balance sheet and a more diversified production base.