VAALCO Energy Reports Blowout Second Quarter

Earnings

โดย Insider Monkey·

Summary · why it matters

VAALCO Energy reported second-quarter 2026 net income of $42.4 million, or $0.39 per diluted share, reversing a $93.76 million loss in the first quarter, with adjusted EBITDAX nearly quintupling to $54.8 million. Sales volumes reached 17,812 net revenue interest barrels of oil equivalent per day, up 47% from the prior quarter, driven by the resumption of production at the Baobab field offshore Côte d'Ivoire in June after a yearlong refurbishment. The company forecasts third-quarter production between 19,600 and 21,600 NRI barrels per day, a 23% increase at the midpoint, and affirmed its increased full-year 2026 guidance without changing its capital budget. Realized commodity prices climbed to $80.77 per barrel of oil equivalent, boosting total commodity sales to $135.2 million from $62.6 million. However, the first half still resulted in a net loss of $51.3 million, weighed down by derivative losses and higher costs, and the company maintained its quarterly dividend at $0.0625 per share.

Vaalco Energy Inc ▲