Vaalco swings to $42.4M Q2 profit as Baobab field restarts
Houston – – October 12, 2026 -- Vaalco Energy reported Q2 2026 net income of $42.4 million ($0.39 per diluted share), against a net loss of $93.8 million ($0.90 per share) in Q1. Adjusted EBITDAX rose almost fivefold to $54.8 million from $11.6 million. In Q2 2025, the company earned $8.4 million ($0.08 per share).
Sales volumes rise 47% as Côte d'Ivoire production resumes
Vaalco sold 17,812 net revenue interest (NRI) barrels of oil equivalent per day (BOEPD) in Q2, above the midpoint of guidance and 47% higher than in Q1. Production reached 21,796 working interest BOEPD, or 16,688 NRI BOEPD, about 10% above Q1. Q2 included two liftings in Gabon and higher sales in Egypt.
Production at the Baobab field offshore Côte d'Ivoire restarted in June 2026 after a major refurbishment of the floating production storage and offloading vessel (FPSO). The first crude lifting from the field is scheduled for August 2026.