Earnings Releases·Nov 5, 2026, 5:01 PM ET

Vaalco Energy, Inc. — Third Quarter 2026 Earnings Summary

Reported a net loss of $39.8 million ($0.38/share) in Q3 2026, reversing Q2 2026 net income of $42.4 million, driven primarily by a $57.0 million net loss on derivative instruments; however, Adjusted EBITDAX rose 30% to $71.1 million, and net revenue increased 9% to $147.0 million.
Long-term debt increased to $239.0 million from $60.0 million at year-end 2025, while liquidity remained at $51.3 million in cash plus $61.0 million available on the RBL facility; Q4 2026 capital guidance was reduced to $55–$75 million.
Q4 2026 production guidance set at 18,800–20,900 NRI BOPD, with full-year 2026 production guided to 17,400–18,550 BOEPD and CAPEX (excluding acquisitions) guided to $300–$330 million.
Strategic progress includes completed drilling in Gabon, resumed production in Côte d'Ivoire, and ongoing development in Egypt; major programs at Venus (Equatorial Guinea) and Kossipo (Côte d'Ivoire) are expected to double production organically, with management forecasting free cash flow generation in H2 2027.
Declared a Q4 2026 cash dividend of $0.0625 per share; Canadian assets were divested in 2026, and the company maintains hedging positions for Q4 2026 and 2027 with floor prices between $64.70 and $71.88.