debt_leverage_profile
0.15x Total Debt / Equity (Conservative)
High
SEC-XBRL
interest_rate_sensitivity
Moderate sensitivity; ~$200M net debt at ~7% weighted cost; 200bps rate rise adds ~$4M annual interest expense, ~5% EBITDA drag
Inferred
Agent_Inference
geopolitical_supply_exposure
High intensity; OPEC+ supply decisions and Russia-Ukraine conflict drive price volatility.
Medium
GICS-commodity-overlay-v1
supply_chain_dependency
Gulf of Guinea offshore logistics (Gabon/Ivory Coast) and Strait of Gibraltar export routing for West African crude cargoes
Inferred
Agent_Inference
international_expansion_readiness
High devaluation exposure: CFA Franc (XOF) pegged to EUR mitigates Gabon/Ivory Coast risk; Egypt EGP has devalued ~50% since 2022, material revenue impact
Inferred
Agent_Inference
geographic_footprint
Operations in Gabon, Equatorial Guinea, Ivory Coast, Egypt, and Canada; CFA Franc peg limits West Africa FX risk; EGP devaluation is primary currency headwind
Inferred
Agent_Inference
commodity_exposure_profile
High intensity; commodities: Crude Oil, Natural Gas, Coal, Refined Petroleum Products, Uranium, Steel (equipment); geopolitical: OPEC+ supply decisions and Russia-Ukraine conflict drive price volatility.
Medium
GICS-commodity-overlay-v1
vendor_lock_dependency_score
Offshore drilling contractors (e.g., Borr Drilling, Vantage) represent significant OpEx but are substitutable; no single vendor exceeds 30% with non-substitutable lock-in
Inferred
Agent_Inference
business_model_type_primary
Upstream E&P is not cloud-dependent; AWS/GCP/Azure termination would affect back-office/seismic processing only; operational continuity not materially threatened within 30 days
Inferred
Agent_Inference
business_model_type_secondary
Seismic interpretation and reservoir modeling software (Petrel, Kingdom) runs on-premise or private cloud; cloud provider termination is low operational risk
Inferred
Agent_Inference
switching_cost_profile
Low API coupling risk; core operations use industry-standard seismic/reservoir software with no proprietary API dependencies; switching cost is moderate training/migration only
Inferred
Agent_Inference
howey_test_risk_index
Near-zero Howey risk; revenue derives from physical crude oil and gas production/sales, a tangible commodity, not an investment contract
Inferred
Agent_Inference
regulatory_burden_tier
High
Medium
GICS-regulatory-overlay-v1
data_sovereignty_risk
Minimal GDPR/CCPA exposure; company processes limited personal data; primary data is geological/operational; no material consumer data handling
Inferred
Agent_Inference
antitrust_exposure_flag
Low antitrust risk; VAALCO is a small-cap E&P with <1% market share in any operating basin; no dominant market position
Inferred
Agent_Inference
regulatory_exposure_profile
High burden; regimes: EPA, FERC, DOE, CFTC, OSHA, SEC; Accelerating emissions mandates and methane rules threaten capex economics.
Medium
GICS-regulatory-overlay-v1
revenue_model_type
~100% transactional; revenue derived from spot and short-term crude oil/gas lifting sales; no subscription or multi-year revenue contracts
Inferred
Agent_Inference
monetization_vector
Commodity price-linked transactional liftings; revenue = production volumes × realized oil/gas price; zero recurring contract revenue
Inferred
Agent_Inference
pricing_architecture
Price-taker model; realized price tied to Dated Brent minus quality/location differential (~$2-4/bbl discount); no internal pricing power lever
Inferred
Agent_Inference
pricing_power_rating
Very low (1/10); VAALCO is a pure commodity price-taker with no ability to set or influence crude oil market prices
Inferred
Agent_Inference
target_gross_margin_bracket
Gross margin ~55-65% at $75/bbl Brent; lifting costs ~$15-20/boe; highly leveraged to oil price with thin margin buffer at sub-$50/bbl
Inferred
Agent_Inference
churn_vulnerability_index
No free-rider leakage; crude oil is a rivalrous, excludable commodity; buyers pay per cargo with no free consumption pathway
Inferred
Agent_Inference
headcount_cost_structure
Revenue growth is sublinear to headcount; doubling production requires incremental drilling capital, not proportional staff increases; ~200-250 employees
Inferred
Agent_Inference
marginal_cost_of_growth
Growth is capital-linear (drilling wells ~$15-30M each), not headcount-linear; marginal cost of incremental barrel is predominantly capex-driven
Inferred
Agent_Inference
franchise_compliance_risk
Not applicable; VAALCO operates no franchise network
Inferred
Agent_Inference
customer_acquisition_metric
At 10x scale, crude marketing/offtake costs remain low (~$0.50/bbl); customer acquisition is minimal as commodity buyers are abundant for West African crude
Inferred
Agent_Inference
network_effect_present
No network effects present; upstream oil production is a standalone asset; value does not increase with additional producers or buyers on platform
Inferred
Agent_Inference
asset_efficiency_ratio
-2.9% Return on Assets (Negative equity)
High
SEC-XBRL
recession_resistance_tier
Low recession resistance (Tier 4/5); revenue directly tied to oil demand/price, which historically drops 20-40% in severe recessions
Inferred
Agent_Inference
customer_segment_primary
International oil trading companies and refiners (Trafigura, Vitol, TotalEnergies) purchasing West African crude liftings under short-term offtake agreements
Inferred
Agent_Inference
customer_segment_secondary
National oil companies and state refiners in Asia (China, India) seeking Gabon/Equatorial Guinea crude for refinery feedstock diversification
Inferred
Agent_Inference
characteristic_occupations
["11-0000 Management Occupations", "13-0000 Business and Financial Operations Occupations", "15-0000 Computer and Mathematical Occupations", "17-0000 Architecture and Engineering Occupations", "19-0000 Life, Physical, and Social Science Occupations", "23-0000 Legal Occupations", "41-0000 Sales and Related Occupations", "43-0000 Office and Administrative Support Occupations", "47-0000 Construction and Extraction Occupations", "49-0000 Installation, Maintenance, and Repair Occupations", "53-0000 Transportation and Material Moving Occupations"]
High
SOC-2018/GICS-overlay
agent_automatable_labor_share
0.33 (HIL — ~33% of characteristic roles agent-automatable)
Medium
SOC-2018 + agentic-exposure-v1
capital_expenditure_profile
2.9% CapEx / Revenue (Low-CapEx Asset-Light)
High
SEC-XBRL
sec_cik
0000894627
High
SEC-EDGAR
ticker
EGY
High
SEC-EDGAR