Vaalco Energy Highlights Transitional 2025, Positions for Growth

Company delivered strong production and sales, while major projects in West Africa set stage for second-half 2026 uplift

Mar. 13, 2026 at 6:06pm

Got story updates? Submit your updates here. ›

Vaalco Energy (NYSE:EGY) reported its fourth-quarter and full-year 2025 results, highlighting what management called a 'transitional year' as the company delivered sales and production above its increased guidance. Major projects in Côte d'Ivoire and Gabon positioned Vaalco's portfolio for a second-half 2026 uplift and further growth into 2027.

Why it matters

Vaalco's operational and financial performance in 2025 demonstrated the company's ability to execute on its strategic priorities, including divesting Canadian assets and expanding its footprint in West Africa. The upcoming projects in Côte d'Ivoire and Gabon are expected to drive significant production growth and cash flow generation for the company in the coming years.

The details

Vaalco reported 2025 sales volumes of 17,452 net revenue interest (NRI) barrels of oil equivalent per day (boe/d), above the high end of the company's increased guidance, and production of 16,556 NRI boe/d (or 21,160 working interest boe/d), above the midpoint of guidance. The company generated $173.4 million of adjusted EBITDAX and $212.7 million of net cash from operating activities in 2025, though a non-cash impairment tied to the Canada sale drove a fourth-quarter net loss. In Côte d'Ivoire, Vaalco is targeting a second-quarter 2026 restart of the Baobab field, with development drilling expected to begin later in the year. The company also has exploration upside on the CI-705 block and is preparing a field development plan for the Kossipo field. In Gabon, Vaalco completed a full-field maintenance shutdown in 2025 and began a new drilling campaign, including an exploration sidetrack well. The company expects gross production in Gabon to increase to 20,000-23,000 barrels per day by the end of the drilling program.

  • In July 2025, Vaalco completed a planned full-field maintenance shutdown in Gabon.
  • In the fourth quarter of 2025, Vaalco began its phase three drilling program in the Etame field in Gabon.
  • In December 2025, Vaalco drilled the Etame 15H-ST development well in Gabon.
  • In the first quarter of 2026, Vaalco completed a seismic survey on the Niosi Marin and Guduma Marin exploration blocks in Gabon.
  • Vaalco expects the Baobab field in Côte d'Ivoire to restart production in the second quarter of 2026.

The players

Vaalco Energy

An independent energy company principally engaged in the exploration, development and production of crude oil and natural gas, with a strategic focus on offshore assets in West Africa.

George Maxwell

CEO of Vaalco Energy.

Ron Bain

CFO of Vaalco Energy.

Got photos? Submit your photos here. ›

What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”

— Gordon Edgar, grocery employee (Instagram)

What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

This case highlights growing concerns in the community about repeat offenders released on bail, raising questions about bail reform, public safety on SF streets, and if any special laws to govern autonomous vehicles in residential and commercial areas.