VAALCO Energy's New Gabon Well Exceeds 4,700 Net BOPD, Boosting Production
EGY sits 62% above its 52-week low of $3.365.
Summary
VAALCO Energy announced successful drilling results from two new wells. The Ebouri-5H well in offshore Gabon achieved an initial flow rate of 4,700 net barrels of oil per day (BOPD), and the HE-9 well in Egypt produced 529 gross BOPD. This follows previous positive operational updates in April and provides a significant boost after the company reported a net loss in Q1 2026. The new production adds material output for VAALCO, with the CEO expressing confidence in profitability for the remainder of 2026. The company has also mobilized a rig to the SEENT platform in Gabon to drill two more development wells.
At the time of this announcement, EGY was trading at $5.44 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $569.3M. The 52-week trading range was $3.36 to $6.72. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.