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

Note 1 - Organization and Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2024

	Three Months Ended March 31,
	2024			2023
	*(in thousands)*
Allowance for credit losses and other
Balance at beginning of period	$	(6,029	)	$	(8,704	)
Credit loss charges and other, net of receipts		(1,812	)		(935	)
Cumulative effect of adjustment upon adoption of ASU 2016-13 on January 1, 2023		—			(3,120	)
Foreign currency gain (loss)		12			(73	)
Balance at end of period	$	(7,829	)	$	(12,832	)

As of March 31, 2024

Balance Sheet Line

Level 1

Level 2

Level 3

Total

(in thousands)

Assets

Derivative asset

Prepayments and other

—

$ — $ — $ — $ —

Liabilities

Derivative liability

Accrued liabilities and other

—

420

—

420

$ — $ 420 $ — $ 420

`		*As of December 31, 2023*
	*Balance Sheet Line*	*Level 1*		*Level 2*		*Level 3*		*Total*
		*(in thousands)*
Assets
Derivative asset	Prepayments and other	$	—	$	403	$	—	$	403
		$	—	$	403	$	—	$	403
Liabilities
SARs liability	Accrued liabilities and other	$	—	$	163	$	—	$	163
		$	—	$	163	$	—	$	163