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Edwards Lifesciences Q3 Earnings Call Highlights
Higher sales and pricing lifted adjusted EBITDAX to $71.1 million, while derivative losses drove a $39.8 million net loss.
- On Thursday, VAALCO Energy, Inc. reported adjusted EBITDAX of $71.1 million for the third quarter, marking a 30% increase from the second quarter driven by higher sales volumes and increased realized pricing across its portfolio.
- Production gains followed completion of the Phase 3 drilling campaign at the Etame field off Gabon's coast, which brought five new wells online and reversed previous output declines in the region.
- Total working interest production reached 25,284 barrels per day, with Gabon contributing 9,577 barrels, Egypt 11,586 barrels, and Cote d'Ivoire 4,121 barrels, representing over 20% growth compared to Q2.
- Despite EBITDAX growth, the company reported a net loss of $39.8 million, primarily from $34.7 million in non-cash unrealized derivative losses, while maintaining a dividend of $0.06 per common share.
- Management expects to finalize an investment decision for the Venus discovery in Equatorial Guinea by year-end 2026, while extending the Egyptian drilling program into 2027 to maintain continuous rig operations.
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L 25%
C 25%
R 50%
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