VAALCO Energy Restarts Production at Baobab Field
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 09 2026
0mins
Source: Newsfilter
- Production Resumption: VAALCO Energy has successfully restarted production at the Baobab field on the CI-40 block offshore Côte d'Ivoire, with production resuming from four wells after a nine-month refurbishment of the FPSO, while three additional wells are expected to come online shortly, ensuring continued operational capacity in the region.
- Project Timeline: The FPSO at Baobab ceased operations in January 2025 and returned in early Q2 2026, reconnected to field infrastructure as planned, demonstrating the company's efficiency in project management and execution.
- Future Development Plans: VAALCO is set to initiate a significant development drilling program in the second half of 2026, expected to include four producers and multiple injectors, which will substantially enhance production capacity and strengthen the company's competitive position in the market.
- Strategic Outlook: The company has extended its CI-40 block license through 2038, with the CEO noting that the successful resumption of the Baobab field and achievements in Gabon drilling mark a critical growth period for 2026, anticipated to generate substantial value for shareholders.
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Analyst Views on EGY
Wall Street analysts forecast EGY stock price to rise
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 5.550
Low
7.53
Averages
7.53
High
7.53
Current: 5.550
Low
7.53
Averages
7.53
High
7.53
About EGY
VAALCO Energy, Inc. is an independent energy company with a diverse portfolio of production, development and exploration assets across Gabon, Egypt, Cote d’Ivoire, Equatorial Guinea, Nigeria and Canada. It is engaged in the acquisition, exploration, development and production of crude oil, natural gas and natural gas liquids. It owns a working interest in, and is the operator of, the Etame PSC related to the Etame Marin block located offshore Gabon in West Africa. The Etame Marin block covers an area of about 46,200 gross acres. The Company owns an interest in an undeveloped block offshore Equatorial Guinea, West Africa. In Egypt, its interests are spread across two regions: the Eastern Desert and the Western Desert. In Harmattan, Canada, it owns production and working interests in Cardium light oil and Mannville liquids-rich gas assets. It also owns a working interest in the Block CI-40 and CI-705 block offshore Cote d’Ivoire in West Africa.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
VAALCO Energy Reports Positive Drilling Updates in Gabon and Egypt
- Gabon Drilling Success: VAALCO successfully drilled and brought online the Ebouri-5H development well, achieving a net pay of 300 meters and an initial flow rate exceeding 8,000 barrels per day, netting 4,700 BOPD, significantly enhancing the company's production capacity and market competitiveness.
- New Well Development Plans: The company has mobilized the rig to the SEENT platform to drill the ETBNM-3 development well, targeting gas and condensate resources in the Dentale D15 reservoir, which is expected to further increase the company's oil and gas reserves and production capacity.
- Egypt Drilling Progress: In Egypt, VAALCO successfully drilled and placed the HE-9 development well into production, encountering 26 meters of net pay and achieving an initial flow rate of 529 BOPD, exceeding expectations and demonstrating strong growth potential in the region.
- Future Growth Strategy: The CEO stated that with the successes in Gabon and Egypt drilling activities, VAALCO will continue to focus on organic capital projects to achieve sustainable growth in 2026 and beyond, enhancing shareholder value.
See More
VAALCO Energy Restarts Production at Baobab Field
- Production Resumption: VAALCO Energy has successfully restarted production at the Baobab field on the CI-40 block offshore Côte d'Ivoire, with production resuming from four wells after a nine-month refurbishment of the FPSO, while three additional wells are expected to come online shortly, ensuring continued operational capacity in the region.
- Project Timeline: The FPSO at Baobab ceased operations in January 2025 and returned in early Q2 2026, reconnected to field infrastructure as planned, demonstrating the company's efficiency in project management and execution.
- Future Development Plans: VAALCO is set to initiate a significant development drilling program in the second half of 2026, expected to include four producers and multiple injectors, which will substantially enhance production capacity and strengthen the company's competitive position in the market.
- Strategic Outlook: The company has extended its CI-40 block license through 2038, with the CEO noting that the successful resumption of the Baobab field and achievements in Gabon drilling mark a critical growth period for 2026, anticipated to generate substantial value for shareholders.
See More
VAALCO Energy Q1 2026 Earnings Call Insights
- Asset Restructuring Progress: VAALCO Energy successfully divested all Canadian assets in February 2026 and gained a 60% operating interest in the Kossipo field in Côte d'Ivoire, which is expected to enhance the company's competitiveness in the African market.
- Production Recovery Plan: The Baobab FPSO has completed refurbishment and is expected to resume production in June, with sales commencing in Q3, indicating positive progress in increasing output and revenue.
- Financial Performance Volatility: The company reported a net loss of $93.7 million in Q1 2026, primarily due to $71 million in derivative losses, although production and sales were slightly above the midpoint of guidance, reflecting financial pressure.
- Optimistic Future Outlook: The company has raised its full-year 2026 production and sales guidance, expecting an 8% increase in production and a 12% increase in sales, reflecting confidence in future performance.
See More
VAALCO Energy Announces Q1 2026 Earnings Release Timing
- Earnings Release Schedule: VAALCO Energy will issue its Q1 2026 earnings report on May 7, 2026, after the NYSE closes, providing crucial financial and operational data that will help investors assess the company's performance.
- Conference Call Timing: The company has scheduled a conference call for May 8, 2026, at 8:00 a.m. Central Time, where detailed discussions on the earnings report will enhance transparency and foster communication with investors.
- Participation Details: U.S. investors can join the call toll-free by dialing (833) 685-0907, while UK investors can call 08002799489, and other international participants can reach (412) 317-5741, ensuring broad investor engagement.
- Webcast and Replay: The conference call will be webcast on VAALCO's website, and an audio replay will be available post-call, further improving information accessibility and investor participation.
See More
Vaalco Energy Reports Strong Initial Results from Etame Field Development
- Etame Field Development Success: Vaalco Energy's new Etame 14H well has achieved an initial flow rate of approximately 4,850 gross bbl/day, translating to 2,850 bbl/day net to the company, reflecting strong operational performance with a 58.8% working interest that significantly enhances production capacity in the region.
- High-Quality Reservoir Discovery: The well encountered 325 meters of net pay in high-quality Gamba reservoir sands, with better-than-expected porosity and permeability, which not only boosts future development potential but also positions the company for long-term growth in Gabon.
- Baobab Field Restart Plans: Vaalco has successfully towed its Baobab floating production, storage, and offloading vessel from Dubai to Côte d'Ivoire, with plans to restart crude production from the 4,500 bbl/day field in Q2, further solidifying its position in the West African market.
- New Well Drilling Progress: The company has mobilized its rig to the nearby Ebouri platform and commenced drilling on the EEBOM-5H development well, indicating ongoing drilling activities in Gabon that are expected to lay the groundwork for future production increases.
See More
VAALCO Energy Reports Positive Drilling Updates in Gabon
- Significant Drilling Results: VAALCO successfully drilled and placed the Etame 14H well into production in Gabon, encountering 325 meters of net pay in high-quality Gamba sands, with an initial flow rate of approximately 4,850 barrels per day, indicating strong production potential and future revenue growth for the company.
- Ongoing Drilling Campaign: The company has mobilized the rig to the Ebouri platform to commence drilling on the EEBOM-5H development well, targeting an updip position by sidetracking from the previously abandoned EEBOM-5P well, which will further enhance production capacity in Gabon.
- Baobab Field Restart: The Baobab Floating Production Storage and Offloading Vessel (FPSO) has completed its 47-day tow from the Dubai dry dock and has returned to Côte d'Ivoire, beginning the process of reconnecting risers, with production expected to restart in Q2 2026, strengthening the company's market position in West Africa.
- Strategic Growth Outlook: The CEO highlighted that with the successes in Gabon's drilling campaign and the Baobab field's restart, the latter half of 2026 is poised to be a profitable period, as VAALCO remains focused on executing organic capital programs to drive long-term growth.
See More
VAALCO Energy Reports Positive Drilling Updates in Gabon and Egypt
- Gabon Drilling Success: VAALCO successfully drilled and brought online the Ebouri-5H development well, achieving a net pay of 300 meters and an initial flow rate exceeding 8,000 barrels per day, netting 4,700 BOPD, significantly enhancing the company's production capacity and market competitiveness.
- New Well Development Plans: The company has mobilized the rig to the SEENT platform to drill the ETBNM-3 development well, targeting gas and condensate resources in the Dentale D15 reservoir, which is expected to further increase the company's oil and gas reserves and production capacity.
- Egypt Drilling Progress: In Egypt, VAALCO successfully drilled and placed the HE-9 development well into production, encountering 26 meters of net pay and achieving an initial flow rate of 529 BOPD, exceeding expectations and demonstrating strong growth potential in the region.
- Future Growth Strategy: The CEO stated that with the successes in Gabon and Egypt drilling activities, VAALCO will continue to focus on organic capital projects to achieve sustainable growth in 2026 and beyond, enhancing shareholder value.
See More
VAALCO Energy Restarts Production at Baobab Field
- Production Resumption: VAALCO Energy has successfully restarted production at the Baobab field on the CI-40 block offshore Côte d'Ivoire, with production resuming from four wells after a nine-month refurbishment of the FPSO, while three additional wells are expected to come online shortly, ensuring continued operational capacity in the region.
- Project Timeline: The FPSO at Baobab ceased operations in January 2025 and returned in early Q2 2026, reconnected to field infrastructure as planned, demonstrating the company's efficiency in project management and execution.
- Future Development Plans: VAALCO is set to initiate a significant development drilling program in the second half of 2026, expected to include four producers and multiple injectors, which will substantially enhance production capacity and strengthen the company's competitive position in the market.
- Strategic Outlook: The company has extended its CI-40 block license through 2038, with the CEO noting that the successful resumption of the Baobab field and achievements in Gabon drilling mark a critical growth period for 2026, anticipated to generate substantial value for shareholders.
See More
VAALCO Energy Q1 2026 Earnings Call Insights
- Asset Restructuring Progress: VAALCO Energy successfully divested all Canadian assets in February 2026 and gained a 60% operating interest in the Kossipo field in Côte d'Ivoire, which is expected to enhance the company's competitiveness in the African market.
- Production Recovery Plan: The Baobab FPSO has completed refurbishment and is expected to resume production in June, with sales commencing in Q3, indicating positive progress in increasing output and revenue.
- Financial Performance Volatility: The company reported a net loss of $93.7 million in Q1 2026, primarily due to $71 million in derivative losses, although production and sales were slightly above the midpoint of guidance, reflecting financial pressure.
- Optimistic Future Outlook: The company has raised its full-year 2026 production and sales guidance, expecting an 8% increase in production and a 12% increase in sales, reflecting confidence in future performance.
See More
VAALCO Energy Announces Q1 2026 Earnings Release Timing
- Earnings Release Schedule: VAALCO Energy will issue its Q1 2026 earnings report on May 7, 2026, after the NYSE closes, providing crucial financial and operational data that will help investors assess the company's performance.
- Conference Call Timing: The company has scheduled a conference call for May 8, 2026, at 8:00 a.m. Central Time, where detailed discussions on the earnings report will enhance transparency and foster communication with investors.
- Participation Details: U.S. investors can join the call toll-free by dialing (833) 685-0907, while UK investors can call 08002799489, and other international participants can reach (412) 317-5741, ensuring broad investor engagement.
- Webcast and Replay: The conference call will be webcast on VAALCO's website, and an audio replay will be available post-call, further improving information accessibility and investor participation.
See More
Vaalco Energy Reports Strong Initial Results from Etame Field Development
- Etame Field Development Success: Vaalco Energy's new Etame 14H well has achieved an initial flow rate of approximately 4,850 gross bbl/day, translating to 2,850 bbl/day net to the company, reflecting strong operational performance with a 58.8% working interest that significantly enhances production capacity in the region.
- High-Quality Reservoir Discovery: The well encountered 325 meters of net pay in high-quality Gamba reservoir sands, with better-than-expected porosity and permeability, which not only boosts future development potential but also positions the company for long-term growth in Gabon.
- Baobab Field Restart Plans: Vaalco has successfully towed its Baobab floating production, storage, and offloading vessel from Dubai to Côte d'Ivoire, with plans to restart crude production from the 4,500 bbl/day field in Q2, further solidifying its position in the West African market.
- New Well Drilling Progress: The company has mobilized its rig to the nearby Ebouri platform and commenced drilling on the EEBOM-5H development well, indicating ongoing drilling activities in Gabon that are expected to lay the groundwork for future production increases.
See More
VAALCO Energy Reports Positive Drilling Updates in Gabon
- Significant Drilling Results: VAALCO successfully drilled and placed the Etame 14H well into production in Gabon, encountering 325 meters of net pay in high-quality Gamba sands, with an initial flow rate of approximately 4,850 barrels per day, indicating strong production potential and future revenue growth for the company.
- Ongoing Drilling Campaign: The company has mobilized the rig to the Ebouri platform to commence drilling on the EEBOM-5H development well, targeting an updip position by sidetracking from the previously abandoned EEBOM-5P well, which will further enhance production capacity in Gabon.
- Baobab Field Restart: The Baobab Floating Production Storage and Offloading Vessel (FPSO) has completed its 47-day tow from the Dubai dry dock and has returned to Côte d'Ivoire, beginning the process of reconnecting risers, with production expected to restart in Q2 2026, strengthening the company's market position in West Africa.
- Strategic Growth Outlook: The CEO highlighted that with the successes in Gabon's drilling campaign and the Baobab field's restart, the latter half of 2026 is poised to be a profitable period, as VAALCO remains focused on executing organic capital programs to drive long-term growth.
See More
