VAALCO Energy, Inc. Announces Third Quarter 2026 Results
Key Highlights
- ➤Q3 production 20,145 NRI BOPD, up 21% from Q2 2026
- ➤Adjusted EBITDAX $71.1 million, up 30% sequentially
- ➤Q3 net loss $39.8 million, driven primarily by $34.7 million hedging losses
- ➤Q4 sales guidance 20,800-22,600 NRI BOPD, midpoint up 18%
- ➤Q4 capital guidance reduced to $55-$75 million
Expert Statements
George Maxwell, Chief Executive Officer of VAALCO Energy
“The third quarter results continue to demonstrate our ability to successfully execute on our strategy as we deliver on our forecasts and grow production in a strong commodity price environment.”
George Maxwell, Chief Executive Officer of VAALCO Energy
“In Q3 2026, we had strong sales volumes, toward the high end of our guidance, with production up 21% compared to Q2 2026 and continued increased realized pricing.”
George Maxwell, Chief Executive Officer of VAALCO Energy
“The increased sales and pricing drove a 30% increase in Adjusted EBITDAX to $71.1 million.”
George Maxwell, Chief Executive Officer of VAALCO Energy
“Operationally, we successfully completed our drilling campaign in Gabon and released the rig in early October.”
George Maxwell, Chief Executive Officer of VAALCO Energy
“We drilled and brought online five wells at Etame in conjunction with this drilling campaign and our year-over-year WI production at Etame is up almost 2,500 BOPD.”
George Maxwell, Chief Executive Officer of VAALCO Energy
“After successfully bringing the Baobab field back online in June, we had our first Côte d’Ivoire lifting in August and kicked off the Phase Five drilling campaign in September.”
George Maxwell, Chief Executive Officer of VAALCO Energy
“In Egypt, we continue with our successful drilling program that is profitably increasing production.”
George Maxwell, Chief Executive Officer of VAALCO Energy
“We have a diversified portfolio of assets in investor friendly countries in West and North Africa with significant future organic growth opportunities.”
George Maxwell, Chief Executive Officer of VAALCO Energy
“As we look to 2027, we are projecting significant increases in production and strong sales, which coupled with continued attractive pricing should generate solid operational cash flow and Adjusted EBITDAX generation.”
George Maxwell, Chief Executive Officer of VAALCO Energy
“We are forecasting free cash flow generation in the second half of 2027, assuming sustained strong commodity pricing.”
George Maxwell, Chief Executive Officer of VAALCO Energy
“We will have an active drilling program in Côte d’Ivoire and Egypt in 2027 that should continue to grow our production.”
George Maxwell, Chief Executive Officer of VAALCO Energy
“We remain confident in our strategic vision with continued operational success and preparing for our next major programs at Venus in Equatorial Guinea and Kossipo in Côte d’Ivoire, which should organically double the Company’s production.”
George Maxwell, Chief Executive Officer of VAALCO Energy
“Vaalco is well positioned for organic growth in 2027 and beyond.”
Production Up Over 20% and Strong Sales Demonstrate Continued Delivery Against Growth Strategy
HOUSTON, Nov. 05, 2026 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY, LSE: EGY) (“Vaalco” or the “Company”) today reported operational and financial results for the third quarter 2026. Additionally, the Company provided operational and financial guidance for the fourth quarter and full year of 2026.
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