VAALCO Energy well starts at about 2,000 gross barrels/day
The first Baobab Phase 5 producer is anticipated online near the end of 2026, with meaningful production increases expected in 2027.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
8-K
Rhea-AI Filing Summary
VAALCO Energy (EGY) reported operational updates from its offshore Gabon and Côte d’Ivoire programs. In Gabon, the ETSEM-3H development well was completed and placed on production, with 300 meters of net pay in high-quality Gamba reservoir sands. Its stabilized initial flow rate was approximately 2,000 gross barrels of oil per day, or 1,140 BOPD net to VAALCO. The Phase 3 drilling program is complete, and the rig has been demobilized.
Offshore Côte d’Ivoire, the operator has begun batch-setting top-hole sections for Baobab Phase 5. The current plan consists of four producers, three water injectors and two workovers; wells are to be completed and placed on production sequentially after all top-hole sections are drilled. The first producer is anticipated online near the end of 2026, with meaningful production increases expected in 2027. VAALCO noted that early production data may not indicate long-term performance.
Insights
Analyzing...
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
ETSEM-3H initial gross flow rate: approximately 2,000 gross barrels of oil per day
ETSEM-3H net flow rate: 1,140 BOPD
ETSEM-3H net pay: 300 meters
+3 more
6 metrics
ETSEM-3H initial gross flow rate
approximately 2,000 gross barrels of oil per day
Stabilized initial rate
ETSEM-3H net flow rate
1,140 BOPD
Net to VAALCO
ETSEM-3H net pay
300 meters
High-quality Gamba reservoir sands
Planned Baobab Phase 5 producers
four producers
Current drilling campaign plan
Planned Baobab Phase 5 water injectors
three water injectors
Current drilling campaign plan
Planned Baobab Phase 5 workovers
two workovers
Current drilling campaign plan
Key Terms
attic position, net pay, batch-setting, water injectors
4 terms
attic position technical
"in an attic position within the SE Etame field"
net pay technical
"300 meters of net pay in high-quality Gamba reservoir sands"
Net pay is the amount of money an employee actually receives on their paycheck after all required deductions—like taxes, retirement contributions, health insurance premiums and other withholdings—have been removed from gross wages. Investors pay attention to net pay because it affects a company’s cash outflows and labor costs, reflects payroll accuracy and compliance (missteps can create tax or legal liabilities), and influences employee morale and retention which can in turn affect productivity and profitability.
batch-setting technical
"begun with the batch-setting of top-holes"
water injectors technical
"four producers, three water injectors and two workovers"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much oil is VAALCO (EGY)'s ETSEM-3H well producing?
The ETSEM-3H well had a stabilized initial flow rate of approximately 2,000 gross barrels of oil per day, including 1,140 BOPD net to VAALCO.
What does VAALCO's Baobab Phase 5 drilling plan include?
The current plan consists of four producers, three water injectors and two workovers. After top-hole sections for all wells are drilled, the wells are to be completed and placed on production sequentially.
When is VAALCO's first Baobab Phase 5 producer expected online?
The first producer is anticipated online near the end of 2026, with meaningful production increases expected in 2027.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 7, 2026
VAALCO Energy, Inc.
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||
| (Address of principal executive offices) | (Zip Code) | |||||||||||||
(713 ) 623-0801
Not Applicable
(Former Name or former address if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
| Common Stock, par value $0.10 | EGY | London Stock Exchange | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933(§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 2.02. Results of Operations and Financial Condition.
On October 7, 2026, VAALCO Energy, Inc. (the “Company”) issued a press release announcing certain operational results for the third quarter of 2026. A copy of the Company’s press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and is not incorporated by reference into any filing under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits.
| Exhibit No. | Description of Exhibit | |||||||||||||
| 99.1 | Press Release, dated October 7, 2026 | |||||||||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| VAALCO ENERGY, INC. | |||||||||||
| Date: October 7, 2026 | |||||||||||
| By: | /s/ Lynn Willis | ||||||||||
| Name: | Lynn Willis | ||||||||||
| Title: | Chief Accounting Officer and Controller | ||||||||||
Exhibit 99.1
THIS RELEASE CONTAINS INSIDE INFORMATION
VAALCO ENERGY, INC. ANNOUNCES POSITIVE OPERATIONAL UPDATES
HOUSTON – October 7, 2026 - VAALCO Energy, Inc. (NYSE: EGY, LSE: EGY) (“Vaalco” or the “Company”) announced successful completion of the offshore Gabon Phase 3 drilling program, including encouraging initial well results on the ETSEM-3H well and demobilization of the rig from the SE Etame platform. Additionally, the Company provided updates on the recently commenced Baobab drilling program offshore Côte d’Ivoire.
Operational Highlights:
•Offshore Gabon, successfully drilled, completed and placed on production the ETSEM-3H development well in an attic position within the SE Etame field, with a lateral wellbore of 300 meters of net pay in high-quality Gamba reservoir sands;
oAchieved stabilized initial flow rate of approximately 2,000 gross barrels of oil per day (“BOPD”), 1,140 BOPD net to Vaalco;
oPhase 3 drilling program is now complete; and
oDrill rig (Borr Norve) has been demobilized from the field.
•Offshore Côte d’Ivoire, the Baobab Phase 5 drilling operations have begun with the batch-setting of top-holes by the operator;
oAfter the top-hole sections of all wells are drilled, the wells will then be completed and placed on production sequentially; and
oFirst producer well anticipated online near end of 2026 supporting meaningful expected production growth in 2027.
George Maxwell, Vaalco’s Chief Executive Officer, commented, “We are pleased with the results of the ETSEM-3H development well, which was landed in an attic location within the SE Etame field, and is now on production at about 2,000 gross BOPD (1,140 BOPD net to Vaalco). This represents the final well in our successful Phase 3 drilling campaign, and the drilling rig has now been demobilized from the field. In Côte d’Ivoire, following the successful re-start of the Baobab field during the second quarter, we have now commenced the Phase 5 drilling campaign with batch-setting the top-hole sections of the new wells. The current plan for the Phase 5 drilling campaign consists of four producers, three water injectors and two workovers. We expect to have the first new producer online near the end of the year, with meaningful production increases expected in 2027. Our continued success and organic project pipeline support Vaalco’s strategic focus on growing production, reserves and value for our shareholders.”
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About Vaalco
Vaalco Energy Inc. is an African-focused independent energy company with a diversified portfolio of production, development and exploration assets in Gabon, Egypt, Côte d'Ivoire and Equatorial Guinea. The Company combines cash-generative production assets with development and exploration opportunities supported by existing infrastructure and established operating histories.
Since 2021, Vaalco has transformed from a single-asset producer into a multi-country African operator through disciplined acquisitions, portfolio optimization and operational delivery. Led by an experienced management team with a proven track record of value creation, Vaalco combines disciplined capital allocation, shareholder returns and a visible, self-funded pathway to significantly increase production from resources already within its portfolio.
Vaalco is headquartered in Houston and listed on the New York Stock Exchange and the Main Market of the London Stock Exchange under the symbol EGY. For further information, visit www.vaalco.com.
Vaalco’s Legal Entity Identifier (LEI) is 549300CFHFVIWB8M6T24.
For Further Information
Vaalco Energy, Inc. (General and Investor Enquiries) | +00 1 713 543 3422 | ||||
Website: | www.vaalco.com | ||||
Al Petrie Advisors (US Investor Relations) | +00 1 713 543 3422 | ||||
Al Petrie / Chris Delange | |||||
Camarco (Financial PR) | |||||
Georgia Edmonds / Rebecca Waterworth (UK) | +44 20 3757 4980 | ||||
Rosie Driscoll (US) | +00 1 771 241 3164 | ||||
Forward Looking Statements
Information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created by those laws and other applicable laws and “forward-looking information” within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements”). Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. All statements other than statements of historical fact may be forward-looking statements. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “forecast,” “outlook,” “aim,” “target,” “will,” “could,” “should,” “may,” “likely,” “plan” and “probably” or similar words may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements may include, but are not limited to, statements relating to (i) estimates of future drilling, production, sales and costs of acquiring crude oil, natural gas and natural gas liquids; (ii) expectations regarding future exploration and the development, growth and potential of Vaalco’s operations, project pipeline and investments, and schedule and anticipated benefits to be derived therefrom; (iii) expectations regarding future acquisitions, investments or divestitures; (iv) expectations of future dividends; (v) expectations of future balance sheet strength; and (vi) expectations of future equity and enterprise value.
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Such forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to: risks relating to any unforeseen liabilities of Vaalco; the ability to generate cash flows that, along with cash on hand, will be sufficient to support operations and cash requirements; risks related to early production data not being indicative of long-term performance; and the risks described under the caption “Risk Factors” in Vaalco’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q filed with the SEC.
Any forward-looking statement made by Vaalco in this press release, is based only on information currently available to Vaalco and speaks only as of the date on which it is made. Except as may be required by applicable securities laws, Vaalco undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Inside Information
This announcement contains inside information as defined in Regulation (EU) No. 596/2014 on market abuse which is part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”) and is made in accordance with the Company’s obligations under article 17 of MAR. The person responsible for arranging the release of this announcement on behalf of Vaalco is Matthew Powers, Corporate Secretary of Vaalco.
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