VAALCO Q2 net income $42.4M; sales up 47% QoQ; Baobab restart; raises FY guidance

VAALCO ENERGY INC /DE/

Net income $42.4M ($0.39/diluted share); Adjusted EBITDAX $54.8M, up ~5x from Q1 2026.
Q2 sales 17,812 BOEPD, above guidance midpoint, up 47% from Q1; Q3 sales forecast 17,200-18,900 BOPD.
Baobab field (Côte d'Ivoire) production restarted June 2026 after FPSO refurbishment; Q3 production expected 19,600-21,600 NRI BOPD.
Capital expenditures $103.6M; Gabon Phase Three drilling started; Côte d'Ivoire FPSO dry dock completed.
Declared quarterly dividend $0.0625/share payable Sept 22, 2026; Egypt trade receivables reduced to $12.9M from $31.6M.

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