VAALCO Energy stock gets new output from a Gabon well

VAALCO Energy, Inc. (ISIN US91851C2017) was last at USD 5.79 on the NYSE on October 7, 2026 at 4:00 p.m. ET, up 0.17 percent on the session. The company reported that its ETSEM-3H well in offshore Gabon had reached 1,140 barrels of oil per day net to VAALCO, while a new drilling campaign has started offshore Côte d'Ivoire.

Gabon well reaches production

According to Vaalco Energy on October 7, 2026, the ETSEM-3H development well delivered a stabilized initial flow rate of 2,000 gross barrels per day, including 1,140 barrels per day net to the company.

The well completed VAALCO's Phase 3 drilling program in the SE Etame field. The company also demobilized the Borr Norve rig, shifting the near-term operating focus from Gabon to the Baobab field.

Baobab plan targets nine well activities

Offshore Côte d'Ivoire, Baobab Phase 5 drilling has begun with top-hole sections being set before the wells are completed sequentially. The plan contains four producers, three water injectors and two workovers, according to Vaalco Energy.

The first new producer is scheduled for the end of 2026, with production growth planned for 2027. VAALCO cautioned in the October 7 release that early production data may not indicate long-term performance, leaving execution and reservoir behavior as key operating variables.

Q2 profit reversed the Q1 loss

In the second quarter of 2026, VAALCO generated USD 42.45 million of net income, or USD 0.39 diluted earnings per share, compared with a USD 93.76 million net loss in the first quarter. Yahoo Finance also reported adjusted EBITDAX of USD 54.8 million and production of 17,812 net revenue interest barrels of oil equivalent per day for Q2 2026.

That comparison makes the new well and Baobab timetable relevant beyond a single operating milestone: the company is trying to convert drilling activity into a steadier production base after a sharply weaker first quarter.

Consensus target remains above the stock

MarketBeat lists a Reduce consensus for VAALCO based on two analysts, with one Hold rating and one Sell rating. The average price target is USD 7.30, which lies 26.1 percent above the USD 5.79 reference price.

The stock's USD 603.7 million market capitalization and October 7 volume of 1,190,264 shares sit alongside a 52-week range of USD 3.36 to USD 6.72. The valuation picture therefore depends heavily on whether the new Gabon output and Baobab additions arrive on schedule.

EGY stock remains below its yearly high

VAALCO Energy stock was last at USD 5.79 on the NYSE on October 7, 2026 at 4:00 p.m. ET, with the 52-week high at USD 6.72 and market capitalization at USD 603.7 million.

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