Vaalco Energy

VAALCO Energy reported a Q2 2026 net profit of USD 42.4m, or USD 0.39 per share, versus consensus USD 0.05, and revenue of USD 135.17m (expectation USD 108.55m). Production and sales increased markedly sequentially thanks to wells brought back online in the Ivory Coast and new wells in Gabon and Egypt; net-revenue-interest production was 17,812 bbl/day. Capital expenditures remained below guidance. Management expects higher Q3 production (working interest 24,400–26,900 bbl/day) and lower production costs, but sees risks from a rising water cut in one well, volatile oil prices and a debt peak in early 2027. » More on de.investing.com

Vaalco Energy has declared a cash dividend of $0.0625 per common share for the third quarter of 2026, which annualizes to $0.25. The dividend will be paid on September 22, 2026, to shareholders of record at the close of business on August 21, 2026. This is the 19th consecutive quarterly dividend; future dividends remain at the discretion of the Board of Directors and will depend on financial metrics and market conditions. » More on de.investing.com

Vaalco has completed the ETBNM-3 gas well in the North-Tchibala structure and encountered reservoir properties that exceeded forecasts, including a net productive interval of more than 10 metres. The well is intended to supply gas for field operations and power generation, reducing diesel consumption and costs. The company is also evaluating shallower intervals in D-9 and D-12 (from wet gas to light oil) and moved the rig to the SEENT platform to begin the pilot and development well ETSEM-3PH and then a horizontal development well with roughly 300 metres of completion length. » More on de.investing.com

Vaalco Energy granted restricted shares and performance shares to CEO George Maxwell, CFO Ronald Bain, COO Thor Pruckl and other directors and executives. Maxwell received 151,297 restricted shares and 211,945 performance shares; Bain 72,456 and 101,500; Pruckl 31,686 and 44,387. Directors each received 23,173 restricted shares. Restricted shares for non‑director executives vest over three years in equal installments; directors’ shares become nonforfeitable either on the first anniversary or at the next annual meeting with at least 50 weeks of minimum vesting. Performance shares also vest over three years subject to performance conditions. Executives sold portions of their holdings to cover withholding tax obligations: Maxwell sold 140,474 shares, Bain 51,914 and Pruckl 32,649, at prices of $5.29 and $5.53 per share. » More on de.investing.com

Vaalco Energy has resumed production at the Baobab field (Block CI-40, Ivory Coast) after the FPSO Baobab Ivoirien returned from a nine-month upgrade in Dubai early in Q2 2026 and was reconnected to the field infrastructure. Production is currently coming from four wells, with three more to be brought online shortly, and field performance meets expectations. The upgrade is intended to extend the FPSO's life ahead of a planned phase-5 drilling program in H2 2026; Vaalco holds the CI-40 license through 2038. » More on de.investing.com