Oil sales from VAALCO Energy’s Egyptian operations amounted to $112.844 million for the six months ending June 30, 2025. Meanwhile, net revenues from Egypt reached $67.177 million during the same period, according to a recent press release.

In the quarter ending June 30, 2025, oil sales from Egypt amounted to $55.188 million, while net revenues recorded $33.257 million.

“In Egypt, we continue to efficiently drill wells and the success of the program in the first half of the year is expected to lead to incremental projects in the second half of 2025. In the first quarter, we entered into a new reserves-based credit facility that will supplement our internally-generated cash flow and cash balance to assist in funding our robust organic growth projects.” Said George Maxwell, Vaalco’s Chief Executive Officer, adding that in the second quarter, the company will draw on this facility, as planned,  to assist in achieving the company’s growth plans.

Building on a campaign that kicked off in December 2024, VAALCO completed drilling six wells in Egypt during the second quarter of 2025. The company plans to hydraulically fracture three of these new wells in the third quarter of 2025. This was paired with an ongoing effort to boost production through a series of workover re-completions, reactivations, and well optimizations. This initiative followed a detailed analysis of the company’s well inventory that was completed in the first quarter of the year and has already led to incremental production gains, according to the company’s statement.

Overall, the company reported a net income of $16.1 million for H1 2025. VAALCO’s total commodity sales for the quarter were $96.9 million,  17% less than its level in the second quarter of 2024 and 12% less than  the first quarter of 2025, primarily attributed to lower average realized prices. The company announced a quarterly cash dividend of $0.0625 per share, payable on September 19, 2025.