VAALCO Energy Declares $0.0625 Quarterly Dividend for Q1 2026

VAALCO Energy Inc (NYSE: EGY), an independent energy company with operations in Gabon, Côte d'Ivoire and Egypt, declared a quarterly cash dividend of $0.0625 per share for the first quarter of 2026. The dividend will be paid on March 27, 2026 to shareholders of record as of February 27, 2026. Read more dividend announcements.

The dividend maintains the company's quarterly rate at $0.0625 per share, matching the fourth quarter 2025 payment of the same amount that was distributed on December 24, 2025. The annualized dividend rate stands at $0.25 per share.

Future declarations of quarterly dividends and the establishment of future record and payment dates remain subject to approval by VAALCO's Board of Directors.

Fourth Quarter 2025 Results

The company reported a net loss of $58.6 million, or $0.56 per diluted share, for the fourth quarter of 2025. Adjusted Net Loss came in at $2.3 million, or $0.02 per diluted share, while Adjusted EBITDAX reached $42.9 million for the quarter.

VAALCO invested $100.1 million in capital expenditures during the fourth quarter, which included the start of the Gabon Phase Three Drilling Program, continued refurbishment of the Côte d'Ivoire Floating Production Storage and Offloading vessel, and procurement of key long leads for the 2026 drilling campaign in Côte d'Ivoire and Egypt.

Recent Corporate Activity

On February 19, 2026, the company completed the divestiture of all Canadian properties for $25.5 million. VAALCO also successfully drilled, completed and placed the Etame 15H-ST development well on production.

The company was confirmed as operator with a 60% working interest in the Kossipo field on the CI-40 Block in Côte d'Ivoire, located southwest of the Baobab field. A field development plan for Kossipo is expected to be completed in the second half of 2026.

2026 Capital Budget

VAALCO is planning a 2026 capital budget ranging from $290 million to $360 million. The spending will fund a drilling campaign at Etame, expected completion of the FPSO Refurbishment/Reconnection Project, initial Phase 5 Drilling Program at Baobab, and continued field activity in Egypt.

Credit Facility Update

On October 17, 2025, lenders approved an increase in the company's borrowing base from $186.6 million to $190.0 million. On November 7, 2025, existing lenders agreed to increase their commitments effective January 23, 2026, raising the aggregate borrowing base to $255.0 million.

On February 4, 2026, VAALCO borrowed an additional $65.0 million under its reserves-based lending facility at an interest rate of 10.2% per annum, based on Term SOFR plus an applicable margin of 6.5%. The borrowing is due within one month with an option to rollover upon maturity.