VAALCO Energy, Inc. filed its Form 10-Q for the quarterly period ended June 30, 2026 with the U.S. Securities and Exchange Commission, reporting second-quarter net income of $42,445 thousand against a net loss of $51,319 thousand for the six months ended June 30, 2026.

Key Highlights

  • Second-quarter revenue: Crude oil, natural gas and natural gas liquids sales totaled $135,166 thousand for the three months ended June 30, 2026, compared with $96,893 thousand in the same period of 2025.
  • Second-quarter net income: Net income was $42,445 thousand, or $0.39 per basic and diluted share, for the three months ended June 30, 2026.
  • Six-month net loss: Net loss was $51,319 thousand, or $0.49 per basic and diluted share, for the six months ended June 30, 2026.
  • Derivative loss: A derivative loss, net of $51,861 thousand was recorded for the six months ended June 30, 2026, compared with a gain of $326 thousand in the prior-year period.
  • Long-term debt: Long-term debt stood at $177,000 thousand as of June 30, 2026, up from $60,000 thousand as of December 31, 2025.
  • Dividends declared: Dividend distributions of $0.0625 per share were recorded in each of the first and second quarters of 2026, totaling $6,687 thousand and $6,690 thousand, respectively, according to the shareholders' equity statement.
  • Shares outstanding: As of August 4, 2026, there were 105,191,778 shares of common stock outstanding.

VAALCO Energy's Operations and Financial Position Through Mid-2026

VAALCO Energy, Inc. (NYSE: EGY), a Delaware-incorporated independent oil and gas company headquartered in Houston, Texas, reported contrasting results across the two quarters of the first half of 2026, according to the filing. Second-quarter crude oil, natural gas and natural gas liquids sales of $135,166 thousand exceeded the prior-year second-quarter figure of $96,893 thousand. Operating income for the second quarter was $43,592 thousand, while operating income for the six months ended June 30, 2026 was $27,457 thousand, the filing disclosed.

The six-month net loss of $51,319 thousand was driven in significant part by a derivative loss, net of $51,861 thousand for the period, the filing indicated. By contrast, the second quarter alone recorded a derivative gain, net of $18,720 thousand. Total operating costs and expenses for the six months ended June 30, 2026 were $170,308 thousand, including production expense of $73,849 thousand, exploration expense of $22,459 thousand, and depreciation, depletion and amortization of $52,484 thousand.

On the balance sheet, total assets were reported at $968,570 thousand as of June 30, 2026, compared with $913,375 thousand as of December 31, 2025, according to the filing. The increase in long-term debt from $60,000 thousand to $177,000 thousand contributed to total liabilities rising to $588,235 thousand from $469,878 thousand over the same period. Cash and cash equivalents declined to $30,394 thousand from $58,900 thousand at year-end 2025. Crude oil, natural gas and NGLs properties and equipment, net increased to $709,653 thousand from $586,095 thousand, reflecting the company's asset base in the upstream energy sector.

What Was Disclosed

VAALCO Energy filed its quarterly report covering the period ended June 30, 2026, disclosing second-quarter net income of $42,445 thousand, a six-month net loss of $51,319 thousand, a derivative loss for the half-year, higher long-term debt, and dividends of $0.0625 per share in each quarter.