Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENTS OF CONSOLIDATED OPERATIONS (Unaudited)

v2.4.0.8
CONDENSED STATEMENTS OF CONSOLIDATED OPERATIONS (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
 3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Revenues:        
Oil and gas sales $ 29,118 $ 58,818 $ 73,255 $ 104,104
Operating costs and expenses:        
Production expenses 7,015 6,537 15,399 12,063
Exploration expense 4,280 3,484 10,386 4,337
Depreciation, depletion and amortization 3,431 6,850 7,057 11,854
General and administrative expenses 2,464 3,040 6,102 6,521
Bad debt expenses 262 275 1,141 590
Total operating costs and expenses 17,452 20,186 40,085 35,365
Operating income 11,666 38,632 33,170 68,739
Other income (expense):        
Interest income 16 32 41 73
Other, net (2) 382 (96) 583
Total other income (expense) 14 414 (55) 656
Income before income taxes 11,680 39,046 33,115 69,395
Income tax expense 4,559 26,729 18,805 46,549
Net income 7,121 12,317 14,310 22,846
Less net income attributable to noncontrolling interest   (1,893)   (3,402)
Net income attributable to VAALCO Energy, Inc. $ 7,121 $ 10,424 $ 14,310 $ 19,444
Basic net income attributable to VAALCO Energy, Inc. common shareholders $ 0.12 $ 0.18 $ 0.25 $ 0.34
Diluted net income attributable to VAALCO Energy, Inc. common shareholders $ 0.12 $ 0.18 $ 0.24 $ 0.33
Basic weighted shares outstanding 57,900,809 57,797,484 57,903,871 57,496,261
Diluted weighted shares outstanding 58,560,284 59,000,292 58,785,808 58,700,829