Arab Finance: Vaalco Energy reported oil sales in Egypt of $235.937 million in the first nine months of 2026, compared to $171.115 million in the same period a year earlier, according to the company’s financial results.
In the third quarter (Q3) of 2026, oil sales in the North African country hit $83.171 million, lower than the $86.356 million recorded in Q2 2026.
The 2026 drilling campaign in Egypt, which commenced in May 2026, continued during Q3 with five development wells drilled and completed.
Drilling also commenced on two additional wells during the quarter, which were completed in October 2026. Vaalco now plans to maintain an ongoing drilling program in Egypt into 2027.
George Maxwell, the company’s CEO, commented: “In Egypt, we continue with our successful drilling program that is profitably increasing production. We have a diversified portfolio of assets in investor-friendly countries in West and North Africa with significant future organic growth opportunities.”
He added: “We are forecasting free cash flow generation in the second half of 2027, assuming sustained strong commodity pricing. We will have an active drilling program in Côte d’Ivoire and Egypt in 2027 that should continue to grow our production.”
