Information
HOUSTON, Feb. 24, 2026 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE:EGY, LSE: EGY)) ("Vaalco" or the "Company") announced positive operational updates in Gabon and Cote d'Ivoire. The Company provided an update on its
Original sourceAI Summary
Vaalco Energy announced strong operational updates from Gabon and Côte d'Ivoire, including impressive initial results from the Etame 15H-ST well and confirmed operator status for the Kossipo development, yielding substantial resource estimates. This positions Vaalco for significant production growth expected in 2026 and beyond, increasing potential shareholder value.
Sentiment Rationale
Strong drilling results and the prospect of new reserves are likely to drive revenue growth, similar to past operational successes that led to stock price gains.
Trading Thesis
Buy EGY for anticipated production growth in 2026 due to drilling successes.
Market-Moving
- The Etame 15H-ST well stabilizes production at 2,000 BOPD, indicating strong cash flows.
- Successful Kossipo field developments could unlock vast resources, enhancing valuation.
- Return of the Baobab FPSO will ramp up production capacity and revenue.
- Upcoming West Etame well results could impact stock price significantly.
Key Facts
- Vaalco reports positive drilling results in Gabon and Côte d'Ivoire.
- Etame 15H-ST well stabilized at 2,000 BOPD, confirming pilot results.
- New Kossipo field development plan underway, estimating 293 MMBOE resources.
- Next well spudded with a 57% chance of adding production in Gabon.
- Baobab FPSO expected to return by late March, boosting production outlook.
Companies Mentioned
- PetroCI: Partnering with Vaalco on Kossipo field development.
Corporate Developments
This news falls under 'Corporate Developments' as it highlights operational successes and strategic initiatives that enhance Vaalco's growth prospects. Such updates typically influence investor sentiment and market positioning for the company in the energy sector.