v3.26.1
Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
SCT Total
Compensation
for Current CEO
(Maxwell)(1)
Compensation
Actually Paid
to Current CEO
(Maxwell)(1)(3)
SCT Total
Compensation
for Prior CEO
(Bounds)(1)
Compensation
Actually Paid
to Prior CEO
(Bounds)(1)(3)
Average
SCT Total
Compensation
for Other
NEOs(2)(3)
Average
Compensation
Actually Paid to
Other NEOs(2)
Value of Initial Fixed $100
Investment Based On:
Net
Income
(loss)
($M)
Company-
Selected
Performance
Measure
(Reserves
(Standardized
Measure))(4)
Vaalco
Cumulative
TSR
Peer Group
Cumulative
TSR(4)
2025 $ 3,001,723 $ 2,185,515 $ 1,250,914 $ 1,074,713 $ 250.35 $ 166.03 $ (41.39) $ 410.01
2024 $ 3,015,493 $ 2,391,536 $ 1,171,801 $ 1,008,785 $ 280.56 $ 118.60 $ 58.49 $ 379.40
2023 $ 1,976,426 $ 1,952,232 $ 927,936 $ 922,348 $ 275.18 $ 134.04 $ 60.35 $ 341.93
2022 $ 1,718,252 $ 1,641,635 $ 830,337 $ 858,442 $ 263.72 $ 125.78 $ 51.89 $ 624.47
2021 $ 657,363 $ 657,363 $ 2,314,678 $ 1,344,158 $ 598,451 $ 821,005 $ 181.36 $ 94.72 $ 81.84 $ 99.26
(1)
George Maxwell has been CEO since April 19, 2021. He replaced Cary Bounds, who resigned from that role April 18, 2021.
(2)
Other NEOs for the indicated years were, for 2025, Ronald Bain, Thor Pruckl, Matthew Powers, and Casey Donohue; for 2024 and 2023, Ronald Bain, Thor Pruckl, Matthew Powers, and Jason Doornik; for 2022, Ronald Bain, David A. DesAutels, and Michael G. Silver; and, for 2021, Ronald Bain, David A. DesAutels, and Michael G. Silver.
(3)
The Company deducted from, or added to, SCT Total Compensation the amounts listed in the table below to calculate CAP in accordance with Item 402(v) of Regulation S-K. Equity valuation assumptions for calculating CAP are not materially different from grant date valuation assumptions. As the Company’s NEOs do not participate in any defined benefit plans, no adjustments were required to SCT Total Compensation related to the value of benefits under such plans.
(4)
The standardized measure of discounted future net cash flows (“Standardized Measure”) is the present value, discounted at an annual rate of 10%, of estimated future net revenues to be generated from the production of proved reserves, determined in accordance with the rules and regulations of the SEC, using the 12-month unweighted average of first-day-of-the-month Brent prices adjusted for historical marketing differentials, without giving effect to non-property related expenses such as certain general and administrative expenses, debt service, derivatives or to depreciation, depletion and amortization.
2021
(Mr. Bounds)
2021
(Mr. Maxwell)
2022
(Mr. Maxwell)
2023
(Mr. Maxwell)
2024
(Mr. Maxwell)
2025
(Mr. Maxwell)
Total Compensation as Reported in the Summary Compensation Table (SCT)
$ 2,314,678 $ 657,363 $ 1,718,252 $ 1,976,426 $ 3,015,493 $ 3,001,723
Pension values reported in the SCT $ 0 $ 0 $ 0 $ 0 $ 0 $ 0
Fair value of equity awards granted during the fiscal year $ (857,728) $ 0 $ (521,502) $ (825,002) $ (1,683,465) $ (1,659,728)
Pension value attributable to current
year’s service and any change in pension
value attributable to plan amendments
made in the current year
$ 0 $ 0 $ 0 $ 0 $ 0 $ 0
Fair value of equity awards granted
during the fiscal year – value at year-end
$ 878,910 $ 0 $ 444,885 $ 846,385 $ 1,103,325 $ 1,889,223
Change in fair value from end of prior
fiscal year to end of current fiscal year for
awards made in prior fiscal years that
were unvested at end of current fiscal
year
$ 550,113 $ 0 $ 0 $ (40,501) $ (134,806) $ (630,005)
Change in fair value from end of prior fiscal year to vesting date, for awards made in prior fiscal years that vested during current fiscal year
$ 888,665 $ 0 $ 0 $ (17,683) $ 74,747 $ (450,980)
Fair value of equity compensation forfeited in current fiscal year determined at end of prior fiscal year $ (2,430,480) $ 0 $ 0 $ 0 $ 0 $ 0
Dividends or other earnings paid on equity awards during the year $ 0 $ 0 $ 0 $ 12,607 $ 16,241 $ 35,281
Compensation Actually Paid $ 1,344,158 $ 657,363 $ 1,641,635 $ 1,952,232 $ 2,391,536 $ 2,185,515
2021
2022
2023
2024
2025
Total Compensation as Reported in the Summary Compensation Table (SCT) $ 598,451 $ 830,337 $ 927,936 $ 1,171,801 $ 1,250,914
Pension values reported in the SCT $ 0 $ 0 $ 0 $ 0 $ 0
Fair value of equity awards granted during the fiscal year $ (127,298) $ (233,665) $ (217,212) $ (463,357) $ (504,726)
Pension value attributable to current year’s service and any change in pension value attributable to plan amendments made in the current year $ 0 $ 0 $ 0 $ 0 $ 0
Fair value of equity awards granted during the fiscal year – value at year-end $ 130,441 $ 202,087 $ 222,840 $ 303,679 $ 605,508
Change in fair value from end of prior fiscal
year to end of current fiscal year for awards
made in prior fiscal years that were
unvested at end of current fiscal year
$ 80,160 $ 49,371 $ (12,770) $ (3,882) $ (177,848)
Change in fair value from end of prior fiscal
year to vesting date, for awards made in
prior fiscal years that vested during current
fiscal year
$ 139,250 $ 164,599 $ (6,594) $ 23,288 $ (107,584)
Fair value of equity compensation forfeited in current fiscal year determined at end of prior fiscal year $ 0 $ (156,497) $ 0 $ (29,007) $ 0
Dividends or other earnings paid on equity awards during the year $ 0 $ 2,211 $ 8,148 $ 6,262 $ 8,449
Compensation Actually Paid $ 821,005 $ 858,442 $ 922,348 $ 1,008,785 $ 1,074,713
       
Company Selected Measure Name (Reserves (Standardized Measure))        
Named Executive Officers, Footnote
(1)
George Maxwell has been CEO since April 19, 2021. He replaced Cary Bounds, who resigned from that role April 18, 2021.
(2)
Other NEOs for the indicated years were, for 2025, Ronald Bain, Thor Pruckl, Matthew Powers, and Casey Donohue; for 2024 and 2023, Ronald Bain, Thor Pruckl, Matthew Powers, and Jason Doornik; for 2022, Ronald Bain, David A. DesAutels, and Michael G. Silver; and, for 2021, Ronald Bain, David A. DesAutels, and Michael G. Silver.
       
Peer Group Issuers, Footnote
(4)
The standardized measure of discounted future net cash flows (“Standardized Measure”) is the present value, discounted at an annual rate of 10%, of estimated future net revenues to be generated from the production of proved reserves, determined in accordance with the rules and regulations of the SEC, using the 12-month unweighted average of first-day-of-the-month Brent prices adjusted for historical marketing differentials, without giving effect to non-property related expenses such as certain general and administrative expenses, debt service, derivatives or to depreciation, depletion and amortization.
       
Adjustment To PEO Compensation, Footnote 3)
The Company deducted from, or added to, SCT Total Compensation the amounts listed in the table below to calculate CAP in accordance with Item 402(v) of Regulation S-K. Equity valuation assumptions for calculating CAP are not materially different from grant date valuation assumptions. As the Company’s NEOs do not participate in any defined benefit plans, no adjustments were required to SCT Total Compensation related to the value of benefits under such plans.
2021
(Mr. Bounds)
2021
(Mr. Maxwell)
2022
(Mr. Maxwell)
2023
(Mr. Maxwell)
2024
(Mr. Maxwell)
2025
(Mr. Maxwell)
Total Compensation as Reported in the Summary Compensation Table (SCT)
$ 2,314,678 $ 657,363 $ 1,718,252 $ 1,976,426 $ 3,015,493 $ 3,001,723
Pension values reported in the SCT $ 0 $ 0 $ 0 $ 0 $ 0 $ 0
Fair value of equity awards granted during the fiscal year $ (857,728) $ 0 $ (521,502) $ (825,002) $ (1,683,465) $ (1,659,728)
Pension value attributable to current
year’s service and any change in pension
value attributable to plan amendments
made in the current year
$ 0 $ 0 $ 0 $ 0 $ 0 $ 0
Fair value of equity awards granted
during the fiscal year – value at year-end
$ 878,910 $ 0 $ 444,885 $ 846,385 $ 1,103,325 $ 1,889,223
Change in fair value from end of prior
fiscal year to end of current fiscal year for
awards made in prior fiscal years that
were unvested at end of current fiscal
year
$ 550,113 $ 0 $ 0 $ (40,501) $ (134,806) $ (630,005)
Change in fair value from end of prior fiscal year to vesting date, for awards made in prior fiscal years that vested during current fiscal year
$ 888,665 $ 0 $ 0 $ (17,683) $ 74,747 $ (450,980)
Fair value of equity compensation forfeited in current fiscal year determined at end of prior fiscal year $ (2,430,480) $ 0 $ 0 $ 0 $ 0 $ 0
Dividends or other earnings paid on equity awards during the year $ 0 $ 0 $ 0 $ 12,607 $ 16,241 $ 35,281
Compensation Actually Paid $ 1,344,158 $ 657,363 $ 1,641,635 $ 1,952,232 $ 2,391,536 $ 2,185,515
       
Non-PEO NEO Average Total Compensation Amount $ 1,250,914 $ 1,171,801 $ 927,936 $ 830,337 $ 598,451
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,074,713 1,008,785 922,348 858,442 821,005
Adjustment to Non-PEO NEO Compensation Footnote
(3)
The Company deducted from, or added to, SCT Total Compensation the amounts listed in the table below to calculate CAP in accordance with Item 402(v) of Regulation S-K. Equity valuation assumptions for calculating CAP are not materially different from grant date valuation assumptions. As the Company’s NEOs do not participate in any defined benefit plans, no adjustments were required to SCT Total Compensation related to the value of benefits under such plans.
2021
2022
2023
2024
2025
Total Compensation as Reported in the Summary Compensation Table (SCT) $ 598,451 $ 830,337 $ 927,936 $ 1,171,801 $ 1,250,914
Pension values reported in the SCT $ 0 $ 0 $ 0 $ 0 $ 0
Fair value of equity awards granted during the fiscal year $ (127,298) $ (233,665) $ (217,212) $ (463,357) $ (504,726)
Pension value attributable to current year’s service and any change in pension value attributable to plan amendments made in the current year $ 0 $ 0 $ 0 $ 0 $ 0
Fair value of equity awards granted during the fiscal year – value at year-end $ 130,441 $ 202,087 $ 222,840 $ 303,679 $ 605,508
Change in fair value from end of prior fiscal
year to end of current fiscal year for awards
made in prior fiscal years that were
unvested at end of current fiscal year
$ 80,160 $ 49,371 $ (12,770) $ (3,882) $ (177,848)
Change in fair value from end of prior fiscal
year to vesting date, for awards made in
prior fiscal years that vested during current
fiscal year
$ 139,250 $ 164,599 $ (6,594) $ 23,288 $ (107,584)
Fair value of equity compensation forfeited in current fiscal year determined at end of prior fiscal year $ 0 $ (156,497) $ 0 $ (29,007) $ 0
Dividends or other earnings paid on equity awards during the year $ 0 $ 2,211 $ 8,148 $ 6,262 $ 8,449
Compensation Actually Paid $ 821,005 $ 858,442 $ 922,348 $ 1,008,785 $ 1,074,713
       
Compensation Actually Paid vs. Total Shareholder Return [MISSING IMAGE: bc_tsr-pn.jpg]        
Compensation Actually Paid vs. Net Income
[MISSING IMAGE: bc_netincome-pn.jpg]
       
Compensation Actually Paid vs. Company Selected Measure
[MISSING IMAGE: bc_standardmeasure-pn.jpg]
       
Total Shareholder Return Vs Peer Group [MISSING IMAGE: bc_tsr-pn.jpg]        
Tabular List, Table
MOST IMPORTANT FINANCIAL PERFORMANCE MEASURES FOR FISCAL YEAR 2025
The following is an unranked list of the four most important financial performance measures used to link executive compensation actually paid to our NEOs during the fiscal year 2025 with the Company’s performance. Please see the Compensation Discussion and Analysis for a further description of the metrics used in the Company’s executive compensation program.

Reserves (Standardized Measure)

WI Production (BOEPD)

Liquidity

Revenue
       
Total Shareholder Return Amount $ 250.35 280.56 275.18 263.72 181.36
Peer Group Total Shareholder Return Amount 166.03 118.6 134.04 125.78 94.72
Net Income (Loss) $ (41,390,000) $ 58,490,000 $ 60,350,000 $ 51,890,000 $ 81,840,000
Company Selected Measure Amount 410.01 379.4 341.93 624.47 99.26
PEO Name George Maxwell        
Measure:: 1          
Pay vs Performance Disclosure          
Name Reserves (Standardized Measure)        
Non-GAAP Measure Description
(4)
The standardized measure of discounted future net cash flows (“Standardized Measure”) is the present value, discounted at an annual rate of 10%, of estimated future net revenues to be generated from the production of proved reserves, determined in accordance with the rules and regulations of the SEC, using the 12-month unweighted average of first-day-of-the-month Brent prices adjusted for historical marketing differentials, without giving effect to non-property related expenses such as certain general and administrative expenses, debt service, derivatives or to depreciation, depletion and amortization.
       
Measure:: 2          
Pay vs Performance Disclosure          
Name WI Production (BOEPD)        
Measure:: 3          
Pay vs Performance Disclosure          
Name Liquidity        
Measure:: 4          
Pay vs Performance Disclosure          
Name Revenue        
George Maxwell [Member]          
Pay vs Performance Disclosure          
PEO Total Compensation Amount $ 3,001,723 $ 3,015,493 $ 1,976,426 $ 1,718,252 $ 657,363
PEO Actually Paid Compensation Amount 2,185,515 2,391,536 1,952,232 1,641,635 657,363
Cary Bounds [Member]          
Pay vs Performance Disclosure          
PEO Total Compensation Amount         2,314,678
PEO Actually Paid Compensation Amount         1,344,158
PEO | George Maxwell [Member] | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 0
PEO | George Maxwell [Member] | Aggregate Pension Adjustments Service Cost          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 0
PEO | George Maxwell [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (1,659,728) (1,683,465) (825,002) (521,502) 0
PEO | George Maxwell [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,889,223 1,103,325 846,385 444,885 0
PEO | George Maxwell [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (630,005) (134,806) (40,501) 0 0
PEO | George Maxwell [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (450,980) 74,747 (17,683) 0 0
PEO | George Maxwell [Member] | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 0
PEO | George Maxwell [Member] | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 35,281 16,241 12,607 0 0
PEO | Cary Bounds [Member] | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         0
PEO | Cary Bounds [Member] | Aggregate Pension Adjustments Service Cost          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         0
PEO | Cary Bounds [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         (857,728)
PEO | Cary Bounds [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         878,910
PEO | Cary Bounds [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         550,113
PEO | Cary Bounds [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         888,665
PEO | Cary Bounds [Member] | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         (2,430,480)
PEO | Cary Bounds [Member] | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         0
Non-PEO NEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 0
Non-PEO NEO | Aggregate Pension Adjustments Service Cost          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 0
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (504,726) (463,357) (217,212) (233,665) (127,298)
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 605,508 303,679 222,840 202,087 130,441
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (177,848) (3,882) (12,770) 49,371 80,160
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (107,584) 23,288 (6,594) 164,599 139,250
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 (29,007) 0 (156,497) 0
Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 8,449 $ 6,262 $ 8,148 $ 2,211 $ 0