newsfilter
← Latest News
GlobeNewswire·

VAALCO Energy, Inc. Announces Third Quarter 2026 Results

EGY
  • Vaalco Energy reported Q3 2026 net loss of $39.8 million ($0.38 per diluted share), driven primarily by a $34.7 million non-cash unrealized loss on derivative instruments.
  • Adjusted EBITDAX increased 30% to $71.1 million in Q3 2026 compared to $54.8 million in Q2 2026, resulting from higher realized commodity prices & sales volumes.
  • Net revenue interest (NRI) sales reached 18,454 barrels of oil per day, up 4% from Q2 2026 & toward the high end of guidance.
  • Working interest (WI) production reached 25,284 BOPD, an increase of approximately 21% compared to Q2 2026.
  • Capital expenditures totaled $86.9 million in Q3 2026, funding the completion of the Gabon Phase Three Drilling Program, Baobab field restart costs, & Phase Five drilling in Côte d'Ivoire.
  • The company successfully completed drilling in Gabon by bringing on the ETSEM-3H well & releasing the rig in early October 2026.
  • Production resumed at the Baobab field in Côte d'Ivoire in June 2026, with the first sales lifting in August & Phase Five drilling operations commencing in September.
  • Q4 2026 guidance forecasts sales volumes between 20,800 & 22,600 NRI BOPD (an 18% increase from Q3 midpoint) & production between 18,800 & 20,900 NRI BOPD.
  • Q4 2026 capital guidance was decreased to a range of $55 million to $75 million.
  • Vaalco declared a quarterly cash dividend of $0.0625 per share, payable on December 22, 2026.
  • The company holds $239.0 million in long-term debt & $51.3 million in cash & cash equivalents as of September 30, 2026.
  • Operational updates include the completion of the ETBNM-3 gas-supply well in Gabon to reduce diesel reliance, & the continuation of an active drilling program in Egypt.
  • Future strategic initiatives include advancing the Venus field development in Equatorial Guinea & the Kossipo field in Côte d'Ivoire, with a Final Investment Decision expected for Venus in Q4 2026.
  • The company projects free cash flow generation in the second half of 2027, assuming sustained strong commodity pricing & continued operational success.
Company
VAALCO Energy, Inc.
Keywords
NYSE:EGY, VAALCO Energy, Inc.