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

Quarterly report pursuant to Section 13 or 15(d)

Note 3 - Acquisitions and Dispositions (Tables)

Note 3 - Acquisitions and Dispositions (Tables)

6 Months Ended

Jun. 30, 2022

Notes Tables

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

		February 25, 2021
		*(in thousands)*
Purchase Consideration
Cash		$	33,959
Fair value of contingent consideration			4,647
Total purchase consideration		$	38,606

		February 25, 2021
		*(in thousands)*
Assets acquired:
Wells, platforms and other production facilities		$	37,176
Equipment and other			5,568
Value added tax and other receivables			1,234
Abandonment funding			11,781
Accounts receivable - trade			11,220
Other current assets			3,963
Liabilities assumed:
Asset retirement obligations			(14,564	)
Accrued liabilities and other			(10,121	)
Bargain purchase gain			(7,651	)
Total purchase price		$	38,606

Business Acquisition, Pro Forma Information [Table Text Block]

		Three Months Ended June 30,				Six Months Ended June 30,
		2021				2021
		(in thousands)
Pro forma (unaudited)
Crude oil and natural gas sales		$	47,023			$	104,570
Operating income			18,874				43,899
Net income			5,884				17,620		(a)

Basic net income loss per share:
Income from continuing operations		$	0.10			$	0.30
Net income per share		$	0.10			$	0.30
Basic weighted average shares outstanding			58,072				57,855
Diluted net income per share:
Income from continuing operations		$	0.10			$	0.30
Net income per share		$	0.10			$	0.30
Diluted weighted average shares outstanding			58,574				58,527