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GlobeNewsWire
5 hours ago
VAALCO Energy, Inc. Provides Positive Operational and Financial Update
HOUSTON, Jan. 15, 2026 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY, LSE: EGY) (“Vaalco” or the “Company”) today provided an operational and financial update including production and sales volumes for 2025, a successful drilling update in Gabon and Egypt, positive accounts receivables update and its increased cash at bank as of December 31, 2025. Highlights and Key Items: Recorded full year 2025 sales volumes of approximately 22,100 working interest (“WI”) barrels of oil equivalent per day (“BOEPD”), at the top of its guidance range of 20,800 to 22,200 WI BOEPD; Produced approximately 21,150 WI BOEPD for full year 2025, at the midpoint of its full year guidance range; Increased cash at bank by nearly $35 million to $58.8 million at December 31, 2025, while continuing to fund Vaalco's capital programs with no draws against the Company's reserve based lending facility ("RBL") in the fourth quarter; Continued strong collection of receivables in Egypt with all receivables now largely on a current basis; Successful start to the Phase Three Drilling Program offshore Gabon; Encountered high-quality reservoir in the ET-15 well in line with initial estimates; Second pilot hole, the ET-15P-ST1, encountered multiple sand intervals with detailed analysis and volumetric assessment underway to confirm commercial viability; Confirmed Baobab Ivorian (formerly MV10) Floating Production Storage and Offloading Vessel (“FPSO”) for the Baobab field remains on track to leave the Dubai dry dock in early February to sail back to Cote d'Ivoire; and Completed successful 2025 Egyptian drilling program, which included a successful exploration well in the H-Field, Eastern Desert, that opens a new development area with an initial flow rate of approximately 450 BOEPD.
