VAALCO Energy reports 2025 production results, cash increase

VAALCO Energy Inc. (NYSE: EGY) reported full-year 2025 sales volumes of approximately 22,100 working interest barrels of oil equivalent per day, reaching the top of its guidance range of 20,800 to 22,200 barrels per day. The company produced approximately 21,150 working interest barrels per day for the full year, at the midpoint of its guidance range.

The Houston-based energy company increased its cash position by nearly $35 million to $58.8 million as of December 31, 2025, while funding capital programs without drawing against its reserve-based lending facility in the fourth quarter. The company reported a net debt position of just over $1 million at year-end.

VAALCO's accounts receivable from Egypt's General Petroleum Corporation decreased from $113 million at the start of 2025 to $31 million at year-end, despite invoicing over $129 million in revenue during the year. The company collected over $210 million in 2025, including a $40 million industry payment received in the final week of the year.

The company's Phase Three Drilling Program in Gabon commenced in the fourth quarter with two pilot wells in the Etame field. The ET-15P well reached a total depth of 2,397 meters and encountered high-quality reservoir sands with initial estimates of 2.4 to 3.2 million barrels of oil in place. The second pilot well, ET-15P-ST1, was drilled to 2,175 meters and encountered multiple sand intervals with approximately nine meters of net reservoir.

VAALCO completed its 2025 Egyptian drilling program, including an exploration well in the H-Field, Eastern Desert, with an initial flow rate of approximately 450 barrels of oil equivalent per day. The Baobab Ivorian floating production storage and offloading vessel is scheduled to leave Dubai dry dock in early February to return to Côte d'Ivoire for second-quarter production resumption.

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