VAALCO Energy, Inc. (NYSE:EGY) Q1 2024 Results Conference Call May 8, 2024 11:00 AM ET

Company Participants

Al Petrie - Investor Relations Coordinator
George Maxwell - Chief Executive Officer
Ron Bain - Chief Financial Officer
Thor Pruckl - Chief Operating Officer

Conference Call Participants

Chris Wheaton - Stifel
Stephane Foucaud - Auctus Advisors
Bill Dezellem - Tieton Capital
Charlie Sharp - Canaccord

Operator

Good day, and welcome to the VAALCO Energy First Quarter 2024 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions]. After today's presentation, there will be an opportunity to ask questions. [Operator Instructions]. Please note, this event is being recorded.

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

Al Petrie

Thank you, operator. Welcome to VAALCO Energy's first quarter 2024 conference call. After I cover the forward-looking statements, George Maxwell, our CEO, will review key highlights of the first quarter. 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 reenter the queue with additional questions. I'd like to point out that we posted a supplemental investor deck on our website 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 our earnings release, the presentation posted on our website and in the reports, we filed with the SEC, including our Form 10-K. Please note that this conference call is being recorded.

And let me now turn the call over to George.

George Maxwell

Thank you, Al. Good morning, everyone, and welcome to our first quarter 2024 earnings conference call. We began 2024 with positive operational and financial results, including strong earnings and adjusted EBITDAX generation. In addition, we closed the Svenska acquisition at the end of April, ahead of schedule, and we're excited about incorporating those operational and financial results into our numbers for the rest of 2024 beginning in Q2. We returned over $12 million to shareholders in Q1 2024 through dividends and buyback.