VAALCO Energy's Q3 production rises 21%
EGY•VAALCO Energy's Q3 production rose 21% from Q2, while net revenue increased 9% and adjusted EBITDAX rose 30% to $71.10 million. The company posted a $39.84 million net loss and forecast Q4 2026 production of 18,800-20,900 NRI BOPD.
1. Production and results
VAALCO Energy reported a 21% increase in Q3 production from Q2, supported by its producing areas in Egypt, Côte d’Ivoire and Gabon. Net revenue rose 9%, and adjusted EBITDAX increased 30% to $71.10 million, driven by higher realized commodity prices and sales volumes. The company posted a net loss of $39.84 million, mainly due to non-cash derivative losses.
2. Fourth-quarter outlook
VAALCO forecast Q4 2026 sales volumes of 20,800-22,600 NRI BOPD and production of 18,800-20,900 NRI BOPD. It lowered Q4 capital guidance to $55 million-$75 million. First crude oil lifting at the Baobab field in Côte d’Ivoire contributed to higher sales volumes.
