Vaalco Q2 profit rises on higher sales, oil prices

VAALCO Energy

06/08/2026 21:45

Overview
Oil and gas producer's Q2 net income rose sharply from Q1, driven by higher sales and prices
Q2 adjusted EBITDAX increased nearly five-fold from Q1, reflecting improved realized commodity prices
Company restarted Côte d’Ivoire Baobab field and affirmed full-year production and sales guidance

Outlook
Company expects Q3 2026 NRI production of 19,600-21,600 BOEPD
Company affirms full-year 2026 NRI production guidance of 17,500-19,400 BOEPD
Company maintains 2026 capital budget guidance at $290-360 mln

Result Drivers
HIGHER SALES VOLUMES - Q2 sales volumes rose 48% from Q1, mainly due to the timing of Gabon liftings and increased sales in Egypt
IMPROVED REALIZED PRICING - Average realized price per BOE increased 41% from Q1, supporting higher revenue
OPERATIONAL EXECUTION - New wells in Gabon and Egypt, and Baobab field restart in Côte d’Ivoire, contributed to production growth

Company press release: ID:nGNXc6L6YJ

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Net Income
 
$42.44 mln
 
Q2 Adjusted EBITDAX
 
$54.80 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the oil & gas exploration and production peer group is "buy"
Wall Street's median 12-month price target for VAALCO Energy Inc is $9.05, about 75.7% above its August 5 closing price of $5.15
The stock recently traded at 58 times the next 12-month earnings vs. a P/E of 22 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)