VAALCO ENERGY INC DE
For the period ended Aug 7, 2024. Filed Aug 7, 2024.
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Aug 7, 2024 · Filed Aug 7, 2024
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EX-99.1 · Hedging
Hedging
The Company continued to opportunistically hedge a portion of its expected future production to lock in strong cash flow generation to assist in funding its capital and shareholder returns programs.
The following includes hedges remaining in place as of the end of the second quarter of 2024:
| Settlement Period | Type of Contract | Index | Average Monthly Volumes | Weighted Average Put Price | Weighted Average Call Price |
|---|---|---|---|---|---|
| (Bbls) · (per Bbl) · (per Bbl) | |||||
| July 2024 - September 2024 | Collars | Dated Brent | 80,000 | $65.00 | $92.00 |
a) The premium for these options was $4.01 per barrel and was paid in October 2023.
| Settlement Period | Type of Contract | Index | Average Monthly Volumes | Weighted Average Put Price |
|---|---|---|---|---|
| (Bbls)a · (per Bbl) | ||||
| July 2024 - December 2024 | Put Options | Dated Brent | 125,000 | $65.00 |
| Settlement Period | Type of Contract | Index | Average Monthly Volumes | Weighted Average SWAP Price in CAD |
|---|---|---|---|---|
| (GJ)b · (per GJ) | ||||
| November 2024 - March 2025 | Swap | AECO (7A) | 67,000 | $2.80 |
b) One gigajoule (GJ) equals one billion joules (J). A gigajoule of natural gas is about 25.5 cubic metres at standard conditions.
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