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VAALCO Energy, Inc.

VAALCO Energy, Inc.

NYSE•EGY
CEO: Mr. George Walter-Mitchell Maxwell
Sector: Energy
Industry: Oil & Gas Exploration & Production
Listing Date: 1993-01-29
VAALCO Energy, Inc., an independent energy company, engages in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids in Gabon, Egypt, Equatorial Guinea, and Canada. The company holds 58.8% interest in the Etame production sharing contract related to the Etame Marin block covering an area of approximately 46,200 gross acres located offshore in the Republic of Gabon in West Africa. It also owns 100% interest in the Eastern Desert, which contains West Gharib, West Bakr and North West Gharib merged concessions covering as area of approximately 45,067 acres, as well as Western Desert, which contains the South Ghazalat concession covering as area of approximately 7,340 acres located in Egypt. In addition, the company production and working interests in Cardium light oil and Mannville liquids-rich gas assets covering as area of 47,400 gross acres located near the north of Calgary, Alberta; and an undeveloped block offshore Equatorial Guinea, West Africa. VAALCO Energy, Inc. was incorporated in 1985 and is headquartered in Houston, Texas.
Contact Information
9800 Richmond Avenue, Suite 700, Houston, TX, 77042, United States
713-623-0801
www.vaalco.com
Market Cap
$412.86M
P/E (TTM)
10.6
15.8
Dividend Yield
6.3%
52W High
$5.88
52W Low
$3.00
52W Range
33%
4.8
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 4.8 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q2 2025 Data

Revenue

$96.89M-17.03%
4-Quarter Trend

EPS

$0.08-70.37%
4-Quarter Trend

FCF

-$32.38M-1.63%
4-Quarter Trend

2025 Q2 Earnings Highlights

Key Highlights

Operating Cash Flow Surges Net cash from operating activities reached 51.0M USD in H1 2025, a 29.7M USD increase driven by asset and liability changes.
Production Costs Per Barrel Down Q2 2025 production expense per barrel decreased to 22.85 USD/Bbl, down from 29.68 USD/Bbl in Q2 2024, showing efficiency gains.
Capital Expenditures Double H1 2025 accrual CapEx rose to 92.2M USD, up from 46.5M USD, funding Egypt drilling and Côte d'Ivoire FPSO refurbishment.

Risk Factors

Commodity Price Volatility Exposure Crude oil prices are volatile; 5 USD/Bbl price decrease would reduce Gabon H1 operating income by 7.0M USD alone.
Material Weakness in Controls Ineffective IT and process-level controls in the procure-to-pay system identified as material weaknesses in internal control.
FPSO Refurbishment Delay Risk Baobab FPSO refurbishment is underway; expected return in 2026. Delays could significantly impact future production and revenue.

Outlook

Gabon Drilling Campaign Starts Rig secured for 2025/2026 drilling program, expected to start near end of Q3 2025, targeting development and exploration wells.
Equatorial Guinea FID Target Targeting Final Investment Decision for the Venus field development on Block P by the end of 2025.
RBL Facility Provides Liquidity Drew 60.0M USD on 2025 RBL Facility; 126.6M USD available capacity remains to fund CapEx and operational requirements.

Peer Comparison

Revenue (TTM)

Star Group, L.P.SGU
$1.78B
-0.9%
North American Construction Group Ltd.NOA
$898.63M
+14.6%
Obsidian Energy Ltd.OBE
$549.89M
+5.2%

Gross Margin (Latest Quarter)

Obsidian Energy Ltd.OBE
54.6%
-11.0 pp
GeoPark LimitedGPRK
45.0%
-13.0 pp
Greenfire Resources Ltd.GFR
44.5%
-4.6 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
SD$471.53M7.113.9%0.1%
GPRK$417.70M9.721.3%60.9%
EGY$412.86M10.67.7%15.8%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-11.6%
Growth Under Pressure
4Q Net Income CAGR
-8.6%
Declining Profitability
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Reports
All Years
  • Form 10-Q - Q4 2025

    Period End: Sep 30, 2025|Filed: Nov 10, 2025|Refer to amended data
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 11, 2025|
    Revenue: $96.89M-17.0%
    |
    EPS: $0.08-70.4%
    Beat
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 12, 2025|
    Revenue: $110.33M+10.2%
    |
    EPS: $0.07-0.5%
    Beat
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Mar 17, 2025|
    Revenue: $478.99M+5.3%
    |
    EPS: $0.56+0.0%
    Beat
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 12, 2024|
    Revenue: $140.33M+12.7%
    |
    EPS: $0.10+74.8%
    Miss
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 9, 2024|
    Revenue: $116.78M+6.9%
    |
    EPS: $0.27+329.3%
    Beat
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 8, 2024|
    Revenue: $100.16M+24.6%
    |
    EPS: $0.07+132.0%
    Beat
  • Form 10-K/A - FY 2023

    Period End: Dec 31, 2023|Filed: Mar 18, 2024|
    Revenue: $455.07M+28.4%
    |
    EPS: $0.56-24.3%
    Beat