VAALCO Energy, Inc. (EGY) Earnings Call Transcripts

VAALCO Energy, Inc.'s Latest Earnings Call - Q1 FY2026

In Q1 2026, VAALCO Energy reported a net loss of $93.7 million, primarily due to $71 million in derivative losses and a $22.4 million exploration expense. Despite these challenges, production was 15,110 NRI barrels of oil equivalent per day, exceeding guidance. Management increased full-year 2026 production and sales guidance by 8% and 12%, respectively, without raising capital expenditure guidance. The company anticipates significant production increases in Q2 2026, driven by the restart of the Baobab field and successful drilling in Gabon.

Reported metrics

Guidance from management

Management increased full-year 2026 production and sales guidance by 8% and 12%, respectively, without raising capital expenditure guidance. They expect significant production increases in Q2 2026.

What management said

We can certainly share in the second quarter, we've got 2 confirmed liftings in Gabon. We're working with a partner in C&R for Baobab, but we likely see a lift in there in August time period. We basically have stated that we'll have one every other month in Gabon between now and the end of the year. And as we stated previously, there's not going to be another -- well, we don't foresee another GOC lift this year. So i...

Yes. I mean if we get the FDP in place before year-end, which is our commitment to the DGH in Cote d'Ivoire, basically, these characterizations of the 102 million barrel equivalent is currently sitting in 2C. That would put it to a 2P characterization within our NSAI report for year-end. So that's definitely a focus. That would add on to our 2P reserve books somewhere in the region of just north of 60 million barrels...

What analysts pressed on

Analysts expressed concerns about the company's derivative losses and the impact of working capital outflows. Questions also focused on the timing and size of future liftings and the potential for flush production in Cote d'Ivoire.

Main topics on the call

• Portfolio Expansion — VAALCO divested Canadian assets and expanded in Cote d'Ivoire, becoming the operator of the Kossipo field with a 60% working interest. Management expressed confidence in the potential of these assets, stating, 'We have e...
• Production and Sales Guidance — The company increased its full-year 2026 production and sales guidance by 8% and 12%, respectively. This is attributed to the successful drilling campaign in Gabon and the anticipated restart of the Baobab field.
• Exploration and Drilling — Q1 2026 saw a $22.4 million exploration expense due to an unsuccessful well in Gabon and seismic costs. However, the Etame 14H well in Gabon came online with an impressive initial rate of 4,850 gross barrels of oil per d...
• Financial Performance — The company reported a net loss of $93.7 million, driven by $71 million in derivative losses. Adjusted EBITDAX was $11.6 million, with no partner liftings in Gabon and no sales in Cote d'Ivoire.

Read the full VAALCO Energy, Inc. transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 35 VAALCO Energy, Inc. earnings call transcripts on record, spanning March 10, 2020 to August 7, 2026. Based on this history, VAALCO Energy, Inc. reports quarterly. The most recent call on file is dated August 7, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

EGY

Exchange

NYSE

Country

US

Sector

Energy

Industry

Oil, Gas and Consumable Fuels

Calls on record

35

First call

March 10, 2020

Most recent

August 7, 2026

Reporting cadence

quarterly