Vaalco Energy (NYSE:EGY) Posts USD1Mn Net Income in Q3, Lifts Production Guidance

3 min read | November 10, 2025 08:35 PM PST | By Team Kalkine Media

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Vaalco Energy (NYSE:EGY) Posts USD1Mn Net Income in Q3, Lifts Production Guidance — Image source: © 2025 Krish Capital Ptd Ltd

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Highlights

Q3 2025 net income of USD 1.1 million; adjusted net loss of USD 10.3 million.

Production averaged 15,405 BOEPD, above midpoint of guidance.

Full-year capital guidance midpoint reduced by 19%, or USD 58 million.

VAALCO Energy, Inc. (NYSE:EGY) announced its third-quarter 2025 financial and operational results, showing steady performance and operational progress across its asset base. The company reported net income of USD 1.1 million, or USD 0.01 per diluted share. Adjusted net loss was USD 10.3 million, while adjusted EBITDAX reached USD 23.7 million for the period.

Production during the quarter averaged 15,405 net revenue interest (NRI) barrels of oil equivalent per day (BOEPD), aligning with the high end of guidance. Working interest (WI) production averaged 19,887 BOEPD, surpassing the midpoint of expectations. Sales volumes averaged 12,831 NRI BOEPD, also near the top of the range.

The company increased full-year production and sales guidance midpoints following strong performance through the first nine months of 2025. At the same time, full-year capital guidance midpoint was reduced by USD 58 million, or 19%, from the original 2025 estimate.

Vaalco also declared a quarterly cash dividend of USD 0.0625 per share, payable on December 24, 2025.

CEO Comments on Operational and Financial Progress

George Maxwell, Vaalco’s Chief Executive Officer, stated, “We continue to deliver consistent quarterly results that either meet or exceed our guidance. Both our sales and NRI production for the third quarter of 2025 were above the midpoint of guidance, leading to solid financial results. We have positively adjusted our full year 2025 guidance taking into account the production and sales results through the first nine months of the year. Additionally, we have decreased the midpoint of our full year capital guidance twice this year, for a total of $58 million, all while raising full year production expectations driven by operational efficiency and well performance.”

He added that maintaining production expenses within previous guidance has contributed to reduced per-barrel costs and aligned results with expectations shared earlier in 2025.

Operational Outlook and Expansion Plans

Vaalco is preparing for several drilling programs across its diversified portfolio. In Côte d’Ivoire, refurbishment work on the Baobab field’s FPSO vessel is progressing in Dubai, with a drilling campaign planned for 2026. In Gabon, the company expects to commence its 2025–2026 drilling campaign at Etame by late November once the contracted rig completes existing commitments.

In Egypt, ongoing well drilling continues to support production performance. The company also expanded its reserves-based credit facility from USD 190 million to USD 240 million following a successful semi-annual redetermination.

The enhanced liquidity supports Vaalco’s growth initiatives, including drilling campaigns and production optimization efforts across Africa.

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