VAALCO Energy, Inc. Quarterly report pursuant to Section 13 or 15(d)

Organization and Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2019


	September 30, 2019		December 31, 2018
	(in thousands)
Cash and cash equivalents	$	57,227	$	33,360
Restricted cash - current		769		804
Restricted cash - non-current		924		920
Abandonment funding		11,112		11,571
Total cash, cash equivalents and restricted cash shown in the condensed consolidated balance sheets	$	70,032	$	46,655


	Three Months Ended September 30,				Nine Months Ended September 30,
	2019			2018	2019		2018
	(in thousands)
Allowance for bad debt
Balance at beginning of year	$	(1,876)	$	(6,948)	$	(2,535)	$	(7,033)
Bad debt recovery (charge)		(54)		157		(30)		68
Reclassification of leasehold costs related to signing bonus		—		4,197		—		4,197
Adjustment associated with settlement of customs audit		—		—		623		—
Foreign currency gain		53		13		65		187
Balance at end of period	$	(1,877)	$	(2,581)	$	(1,877)	$	(2,581)


			As of September 30, 2019
	Balance Sheet Line		Level 1		Level 2		Level 3		Total
			(in thousands)
Assets
Derivative asset commodity swaps		Prepayments and other	$	—	$	3,730	$	—	$	3,730
			$	—	$	3,730	$	—	$	3,730
Liabilities
SARs liability		Accrued liabilities	$	—	$	2,516	$	—	$	2,516
SARs liability		Other long-term liabilities		—		652		—		652
			$	—	$	3,168	$	—	$	3,168

			As of December 31, 2018
	Balance Sheet Line		Level 1		Level 2		Level 3		Total
			(in thousands)
Assets
Derivative asset commodity swaps		Prepayments and other	$	—	$	3,520	$	—	$	3,520
			$	—	$	3,520	$	—	$	3,520
Liabilities
SARs liability		Accrued liabilities	$	—	$	1,007	$	—	$	1,007
SARs liability		Other long-term liabilities		—		625		—		625
			$	—	$	1,632	$	—	$	1,632