VAALCO Energy(US:EGY)2025-08-08 14:00Q2 2025 Performance Highlights - VAALCO reported strong operational results, exceeding high-end guidance with NRI production of 16,956 BOEPD and NRI sales of 19,393 BOEPD[9] - The company generated solid financial results, including net income of $84 million ($008 per diluted share) and adjusted EBITDAX of $499 million[9] - VAALCO reiterated its full-year 2025 guidance, which included reductions to capital expenditures through delaying Canada drilling and discretionary capital[10] Financial Position and Shareholder Returns - VAALCO's cash at the end of Q2 2025 was $68 million, with $127 million available under the credit facility[24] - The company has returned over ~$100 million to shareholders through dividends and share buybacks since 2022[9] - The current dividend yield is about ~7%[9] Operational Updates and Strategy - The MV-10 FPSO refurbishment project is progressing ahead of schedule, supporting a 2026 deployment timeline[10] - VAALCO secured a drilling rig for the 2026 development campaign following the FPSO return to service[10] - The company strategically expands its diversified African-focused portfolio, building scale and diversification with a full-cycle, low-risk, high-return portfolio[11] Asset-Specific Information - Gabon's WI production was 8,563 BOEPD in Q2 2025, with ~94% operational production uptime in 2025 through June[41, 43] - Egypt's WI production was 10,929 BOEPD in Q2 2025, with continued drilling program in 2025 and 10 wells completed in the first half of the year[48] - Canada's WI production was 2,162 BOEPD in Q2 2025, with a shift towards longer laterals to enhance returns[50]