VAALCO Energy, Inc.

VAALCO Energy, Inc. Announces Positive Operational Updates

VAALCO completed its offshore Gabon Phase 3 drilling program, placing the ETSEM-3H development well on production at approximately 2,000 gross BOPD (1,140 BOPD net), with 300 meters of net pay in Gamba reservoir sands. The Borr Norve rig has been demobilized from the SE Etame platform, closing out the campaign. Offshore Côte d'Ivoire, Baobab Phase 5 drilling has begun, with the first new producer expected online near end-2026 and meaningful production growth expected in 2027.

•20d ago

VAALCO Energy, Inc. Announces Second Quarter 2026 Results

VAALCO reported Q2 2026 net income of $42.4 million ($0.39 per diluted share), a significant turnaround from a net loss in the prior quarter, driven by a 47% quarter-over-quarter increase in sales volumes and higher realized pricing. Adjusted EBITDAX increased nearly five-fold to $54.8 million, supported by the successful restart of the Baobab field in Côte d’Ivoire and ongoing drilling campaigns in Gabon and Egypt. The company affirmed its elevated full-year 2026 production and sales guidance while maintaining its capital budget and declared a quarterly dividend of $0.0625 per share.

•2mo ago

Vaalco Energy, Inc. Declares Third Quarter 2026 Dividend

Vaalco Energy declared a quarterly cash dividend of $0.0625 per share, payable on September 22, 2026, to shareholders of record as of August 21, 2026. This represents the company's 19th consecutive quarterly dividend, corresponding to an annualized rate of $0.25 per share. CEO George Maxwell emphasized that the payment reflects strong cash generation from the company's diversified asset base.

•2mo ago

VAALCO Energy, Inc. Provides Operational Update for Ongoing Drilling Program in Offshore Gabon

VAALCO Energy announced the successful completion and production of the ETBNM-3 gas-supply well in offshore Gabon, which exceeded pre-drill estimates with over 10 meters of net reservoir pay. The well provides sufficient gas for field operations, reducing reliance on higher-priced diesel and improving field uptime. The company has moved the rig to drill the ETSEM-3PH pilot hole and development well, designed to test the original field Oil Water Contact and the underlying Dentale formation.

•2mo ago

VAALCO Energy, Inc. Announces Exciting Operational Update in Offshore Gabon and in Egypt

Vaalco announced positive operational updates from its offshore Gabon and onshore Egypt drilling programs. The Ebouri-5H development well in Gabon encountered 300 meters of net pay and achieved initial flow rates exceeding 8,000 gross BOPD (4,700 net to Vaalco). In Egypt, the HE-9 development well was placed on production with 26 meters of net pay and initial flow rates of 529 gross BOPD, exceeding pre-drill expectations. The rig in Gabon has been mobilized to the SEENT platform to drill the ETBNM-3 well, targeting gas and condensate resources that will reduce diesel costs.

•4mo ago

VAALCO Energy, Inc. Announces Baobab Field Production Resumes After Successful FPSO Refurbishment

Vaalco Energy has resumed production at its Baobab field offshore Côte d’Ivoire following a successful nine-month refurbishment of the Baobab Ivoirien FPSO. The vessel returned to position in early Q2 2026, with four producing wells currently online and three more expected shortly, performing in line with company expectations. Management highlighted a significant Phase 5 drilling program planned for the second half of 2026, which includes four new producers, injectors, and workovers, supported by a license extension through 2038.

•4mo ago

Vaalco Energy, Inc. Declares Second Quarter 2026 Dividend

Vaalco Energy declared a quarterly dividend of $0.0625 per share for Q2 2026, which is $0.25 annualized. This marks the 18th consecutive quarterly dividend, reflecting the company's commitment to providing shareholder returns. The dividend is payable on June 26 to shareholders of record as of May 22, with future dividends subject to board approval.

•5mo ago