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Get filing alertsVAALCO reports Q2 net income of $42.4M, restarts Côte d'Ivoire production after FPSO refurb
Filed August 6, 2026 · Period ending August 6, 2026 · ~1 min read
Key Changes
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Q2 2026 net income $42.4M ($0.39/share), Adjusted EBITDAX $54.8M (nearly 5x Q1), driven by 47% production increase to 17,812 BOEPD and two Gabon liftings.
Exhibit 99.1 view on EDGAR → -
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Restarted Baobab field production in Côte d'Ivoire in June 2026 after year-long FPSO refurbishment; affirmed elevated full-year 2026 guidance (production +8%, sales +12% at midpoint vs. prior).
Exhibit 99.1 view on EDGAR → -
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Invested $103.6M in Q2 capex (below $110M-$130M guidance), including Gabon Phase Three drilling start and Côte d'Ivoire campaign materials; drilled Ebouri-5H and ETBNM-3 gas-supply well.
Exhibit 99.1 view on EDGAR → -
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Reduced Egypt trade receivables 59% to $12.9M (from $31.6M at year-end 2025), improving working capital and lowering counterparty credit risk.
Exhibit 99.1 view on EDGAR → -
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Declared Q3 2026 dividend of $0.0625/share ($0.25 annualized), payable September 22, 2026 to shareholders of record August 21, 2026.
Exhibit 99.1 view on EDGAR →
Summary
VAALCO Energy delivered a strong Q2 2026, with net income of $42.4 million ($0.39/share) and Adjusted EBITDAX of $54.8 million—nearly five times the prior quarter. Production jumped 47% sequentially to 17,812 BOEPD, driven by two Gabon liftings and increased Egyptian sales.
The headline operational milestone was the June 2026 restart of the Baobab field in Côte d'Ivoire following a year-long FPSO refurbishment, a key asset returning to production on schedule.
The company affirmed its elevated full-year 2026 guidance (production up 8%, sales up 12% at the midpoint versus prior guidance) while holding capital spending flat despite additional Egyptian drilling, signaling operational efficiency and cost discipline. VAALCO invested $103.6 million in Q2 capex, below the low end of its $110M-$130M guidance, funding the Gabon Phase Three drilling program (including the Ebouri-5H development well and ETBNM-3 gas-supply well, now reducing diesel costs) and materials for the upcoming Côte d'Ivoire campaign. The company also cut Egypt receivables 59% to $12.9 million, strengthening working capital. The Q3 dividend of $0.0625/share continues the regular payout. For holders, the Baobab restart and affirmed guidance validate the FPSO investment and multi-asset execution, with the production ramp and cost control supporting cash generation.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
VAALCO Energy announced Q2 2026 financial results and updated guidance for Q3 and remainder of 2026.
Added in current filing · verify on EDGAR →
On August 6, 2026, VAALCO Energy, Inc. (the “Company”) issued a press release announcing its financial results for the second quarter of 2026 and guidance for the third quarter of 2026 and the remainder of 2026.
VAALCO Energy disclosed its second quarter 2026 financial results and provided updated guidance for the third quarter and remainder of 2026. The 8-K references a press release (Exhibit 99.1) and presentation slides available on the company's website, but does not include the actual financial figures or guidance details in the body of the filing.
Event · Item 7.01 — Regulation FD Disclosure
VAALCO announces conference call scheduled for August 7, 2026 to discuss financial and operational results.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
the Company is hosting a conference call to discuss its financial and operational results on Friday morning, August 7, 2026 at 8:00 a.m. Central Time (9:00 a.m. Eastern Time and 2:00 p.m. London Time).
VAALCO scheduled a conference call for August 7, 2026 at 8:00 a.m. Central Time to discuss financial and operational results. This is a routine disclosure under Regulation FD regarding an upcoming earnings call.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
Sold 17,812 net revenue interest (“NRI”) (1) barrels of oil equivalent per day (“BOEPD”), above the midpoint of guidance, and up 47% from Q1 2026 ... Restarted production in June 2026 at the Baobab field in offshore Côte d’Ivoire, as planned, following a major refurbishment of the Floating Production Storage and Offloading vessel (“FPSO”) ... Reported net income of $42.4 million ($0.39 per diluted share), driven by significantly increased sales, lower exploration expense and a non-cash gain on derivative instruments, compared with Q1 2026 ... Generated Adjusted EBITDAX(3) of $54.8 million, an increase of almost five times from $11.6 million in Q1 2026
VAALCO sold 17,812 NRI BOEPD in Q2 2026, up 47% from Q1 2026 and above guidance midpoint. The company restarted production at the Baobab field in Côte d'Ivoire in June 2026 after a year-long FPSO refurbishment. Net income was $42.4 million ($0.39 per diluted share), driven by higher sales, lower exploration expense, and a non-cash derivative gain. Adjusted EBITDAX reached $54.8 million, nearly five times Q1 2026's $11.6 million, reflecting two Gabon liftings and increased Egyptian sales.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 8, 2026 · How we verify