Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements Of Consolidated Operations

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Condensed Statements Of Consolidated Operations (USD $)
In Thousands, except Per Share data
 3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Revenues:        
Oil and gas sales $ 58,547 $ 33,675 $ 105,319 $ 63,681
Operating costs and expenses:        
Production expense 5,807 6,128 11,040 11,066
Exploration expense 1,189 407 2,308 1,419
Depreciation, depletion and amortization 6,545 4,422 12,643 8,318
General and administrative expenses 2,494 2,625 5,475 4,906
Total operating costs and expenses 16,035 13,582 31,466 25,709
Operating income 42,512 20,093 73,853 37,972
Other income (expense):        
Interest income 47 (25) 83 63
Other, net 592 22 398 (227)
Total other income (expense) 639 (3) 481 (164)
Income before income taxes 43,151 20,090 74,334 37,808
Income tax expense 29,641 8,676 47,929 19,470
Net income 13,510 11,414 26,405 18,338
Less net income attributable to noncontrolling interest (1,723) (1,378) (3,380) (2,334)
Net income attributable to VAALCO Energy, Inc. $ 11,787 $ 10,036 $ 23,025 $ 16,004
Basic net income per share attributable to VAALCO Energy, Inc. common shareholders $ 0.21 $ 0.18 $ 0.40 $ 0.28
Diluted net income per share attributable to VAALCO Energy, Inc. common shareholders $ 0.20 $ 0.18 $ 0.40 $ 0.28
Basic weighted shares outstanding 57,027 56,427 56,999 56,425
Diluted weighted shares outstanding 58,021 57,028 58,113 56,727