VAALCO Swings to $42M Q2 Profit as Production and Prices Surge
EGY sits 61% above its 52-week low of $3.365.
Summary
VAALCO Energy reported Q2 net income of $42.44 million, a sharp reversal from the $93.8 million net loss in Q1. The turnaround was driven by a 48% jump in sales volumes and a 41% increase in realized oil prices. Adjusted EBITDAX surged nearly five-fold to $54.80 million. The company restarted its Baobab field in Côte d'Ivoire and affirmed full-year production guidance of 17,500-19,400 BOEPD. This follows the earlier August 6 guidance for a strong second half, now backed by concrete Q2 numbers. The results confirm operational momentum and pricing tailwinds, with Q3 production expected between 19,600 and 21,600 BOEPD.
At the time of this announcement, EGY was trading at $5.42 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $538M. 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: Reuters.