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Vaalco Energy Inc reports net income of $7.6 million for Q3 2020

1 min read | November 08, 2020 08:55 AM GMT | By Team Kalkine Media
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Vaalco Energy Inc (LON:EGY) has released its results for the third quarter of 2020.

  • For the third quarter of 2020, the net income of the company was $7.6 million as compared with a net loss of $3.9 million in the same period in 2019.
  • The positive net income in the reported period reflected an income tax benefit of $2.8 million, in the same period last year, there was an adverse impact of income tax expense of $7.7 million.
  • During the reported period, the company realized strong production performance of 4,405 NRI (net revenue interest) barrels of crude oil per day (BOPD), or 5,064 working interest.

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