Vaalco Energy, Inc. · NYSE:EGY
Vaalco Energy — Q2 2025 Earnings Presentation
19 slides from Vaalco Energy's earnings presentation, Aug 8, 2025
Slide 1: Q2 2025 Supplemental Information
Q2 2025 Supplemental Information Profitably and Sustainably Growing Value August 2025
Slide 2: Forward Looking Statements Safe Harbor
Q2 2025 Supplemental Information: Profitably and Sustainably Growing Value August 2025 Forward Looking Statements Safe Harbor This presentation of VAALCO Energy, Inc. (“Vaalco” or the “Company”) includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as
Slide 3: Q2 2025 Highlights
Q2 2025 Supplemental Information: Profitably and Sustainably Growing Value August 2025 Q2 2025 Highlights Reported strong operational results at or above guidance NRI production of 16,956 and NRI Sales of 19,393 BOEPD, both above the high end of guidance WI production of 21,654 BOEPD toward the high
Slide 4: Strategically Expanding Our Diversified African-Focused Portfolio
Q2 2025 Supplemental Information: Profitably and Sustainably Growing Value August 2025 Strategically Expanding Our Diversified African-Focused Portfolio Building Scale and Diversification with a Full-cycle, Low-risk, High Return Portfolio A Growing, Diversified Footprint in Africa Supported by High-
Slide 5: Solid Financial Foundation
Q2 2025 Supplemental Information: Profitably and Sustainably Growing Value August 2025 Solid Financial Foundation Generating Strong Adjusted EBITDAX to Fund Opportunities and Return Cash to Shareholders Strong Adjusted EBITDAX Generation (US$ millions) Liquidity (US$ millions) Returning Cash to Shar
Slide 6: Convincing Value Proposition
Q2 2025 Supplemental Information: Profitably and Sustainably Growing Value August 2025 Convincing Value Proposition Vaalco Share Price Undervalued Compared to Peers(1) Annualized Dividend Yield %(2) Enterprise Value/2025E EBITDA(2) 14.0% 5.0x › 6.8% dividend yield is top quartile 4.5x 4.7x of income
Slide 7: CI-705 Farm-in Agreement Offshore Côte d'Ivoire
Q2 2025 Supplemental Information: Profitably and Sustainably Growing Value August 2025 CI-705 Farm-in Agreement Offshore Côte d’Ivoire Announced March 2025 Operator of CI-705 exploration block 70% WI and a 100% paying interest at commercial terms through the seismic reprocessing and interpretation s
Slide 8: Côte d'Ivoire Update
Q2 2025 Supplemental Information: Profitably and Sustainably Growing Value August 2025 Côte d’Ivoire Update Boosted Production in 2024 and 2025 FPSO Upgrade Underway 2Q 2025 Asset Stats Asset Highlights › FPSO project began on schedule in Q1 2025 0 BOEPD 100% / 0% / 0% which enables future drilling
Slide 9: Gabon Update
Q2 2025 Supplemental Information: Profitably and Sustainably Growing Value August 2025 Gabon Update Production Optimization 2Q 2025 Asset Stats Asset Highlights › Strong operational production uptime and 8,563 BOEPD 100% / 0% / 0% WI Production Oil NGL Gas optimization efforts, offsetting decline ‐
Slide 10: Egypt Update
Q2 2025 Supplemental Information: Profitably and Sustainably Growing Value August 2025 Egypt Update Production & Drilling Optimization 2Q 2025 Asset Stats Asset Highlights › In 2024 and thus far in 2025, achieved 10,929 BOEPD 100% / 0% / 0% WI Production Oil NGL Gas 5.1-million-man hours without a l
Slide 11: Canada Update
Q2 2025 Supplemental Information: Profitably and Sustainably Growing Value August 2025 Canada Update Optimizing Lateral Lengths, Frac Intensity and Facilities 2Q 2025 Asset Stats Asset Highlights › Based on successful capital programs, moving to 2,162 BOEPD 32% / 38% / 30% longer laterals exclusivel
Slide 12: Equatorial Guinea: Future Growth Potential
Q2 2025 Supplemental Information: Profitably and Sustainably Growing Value August 2025 Equatorial Guinea: Future Growth Potential Maximizing the Value in Vaalco’s Portfolio VENUS EUROPA SW GRANDE DISCOVERY DISCOVERY PROSPECT Potential to add: Upside potential: Upside potential: 2P CPR reserves Unris
Slide 13: 2025 Full Year Capital Expenditures Guidance Includes ~10% Prior Reduction
Q2 2025 Supplemental Information: Profitably and Sustainably Growing Value August 2025 2025 Full Year Capital Expenditures Guidance Includes ~10% Prior Reduction (As of August 7, 2025) FY2025 Capex, excluding acquisitions, guidance range previously reduced from $270 - $330 million to $250 - $300 mil
Slide 14: Q3 and Full Year 2025 Guidance
Q2 2025 Supplemental Information: Profitably and Sustainably Growing Value August 2025 Q3 and Full Year 2025 Guidance (As of August 7, 2025) Q3 2025 FY 2025 WI Production1 (BOEPD) Gabon 6,400 - 7,100 7,000 – 8,300 Egypt 10,500 – 11,500 9,750 – 11,100 Canada 2,000 – 2,200 2,200 – 2,600 Cote d’Ivoire
Slide 15: Cash Flow Movement and Hedging
Q2 2025 Supplemental Information: Profitably and Sustainably Growing Value August 2025 Cash Flow Movement and Hedging Cash Movement March 31, 2025 to June 30, 2025 (US$ millions) Hedging Positions as of June 30, 2025 $200.0 $180.0 $160.0 $48.6 $60.0 $140.0 $120.0 $123.0 $45.5 $100.0 $80.0 $81.9 $14.
Slide 16: Accelerating Shareholder Returns and Value Growth
Q2 2025 Supplemental Information: Profitably and Sustainably Growing Value August 2025 Accelerating Shareholder Returns and Value Growth A world-class African-focused E&P supporting sustainable shareholder returns and growth Building a diversified, African- Material reserves and focused E&P with mea
Slide 17: Step Change in Total Production and Reserves
Q2 2025 Supplemental Information: Profitably and Sustainably Growing Value August 2025 Step Change in Total Production and Reserves Significant Increase in Size and Scale Production (WI) SEC Proved Reserves(1) (MMBOE) 27,500 50.0 45.0 25,000 40.0 45.0 35.0 24,738 30.0 22,500 23,946 25.0 27.9 28.6 20
Slide 18: Reconciliations of Non-GAAP Measures
Q2 2025 Supplemental Information: Profitably and Sustainably Growing Value August 2025 Reconciliations of Non-GAAP Measures Please refer to Q2 2025 Earnings Release for additional reconciliations Vaalco Energy 18
Slide 19: For More Information
For More Information Vaalco.com Vaalco Energy Corporate Offices Branch Offices United States Vaalco Energy Gabon Vaalco Energy Egypt Vaalco Energy Cote d’Ivoire B.P. 1335, Port Gentil, Gabon 6 Badr Towers Succursale de Côte d’Ivoire 2500 CityWest Blvd., Suite 400 Ring Road, Maadi Abidjan Plateau, Ru