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

Organization and Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2020


	As of March 31,
	2020		2019
	(in thousands)
Cash and cash equivalents	$	60,973	$	46,195
Restricted cash - current		994		788
Restricted cash - non-current		925		921
Abandonment funding		11,227		11,390
Total cash, cash equivalents and restricted cash	$	74,119	$	59,294


	Three Months Ended March 31,
	2020		2019
	(in thousands)
Allowance for bad debt
Balance at beginning of year	$	(1,508)	$	(2,535)
Bad debt recovery (charge)		(810)		29
Adjustment associated with reversal of allowance on Mutamba receivable		593		—
Adjustment associated with settlement of customs audit		—		623
Foreign currency gain		—		29
Balance at end of period	$	(1,725)	$	(1,854)


			As of March 31, 2020
	Balance Sheet Line		Level 1		Level 2		Level 3		Total
			(in thousands)
Assets
Derivative asset commodity swaps		Prepayments and other	$	—	$	7,257	$	—	$	7,257
			$	—	$	7,257	$	—	$	7,257
Liabilities
SARs liability		Accrued liabilities	$	—	$	742	$	—	$	742
SARs liability		Other long-term liabilities		—		34		—		34
			$	—	$	776	$	—	$	776

			As of December 31, 2019
	Balance Sheet Line		Level 1		Level 2		Level 3		Total
			(in thousands)
Assets
Derivative asset commodity swaps		Prepayments and other	$	—	$	636	$	—	$	636
			$	—	$	636	$	—	$	636
Liabilities
SARs liability		Accrued liabilities	$	—	$	2,638	$	—	$	2,638
SARs liability		Other long-term liabilities		—		852		—		852
			$	—	$	3,490	$	—	$	3,490