Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v2.3.0.15
Condensed Consolidated Balance Sheets (USD $)
In Thousands
Sep. 30, 2011
Dec. 31, 2010
Current assets:    
Cash and cash equivalents $ 112,575 $ 81,234
Funds in escrow 991 14,932
Receivables:    
Trade 11,144 14,068
Accounts with partners, net of allowance of $4.1 million at Sept. 30, 2011 8,898 16,180
Other 4,547 10,412
Crude oil inventory 5,397 548
Materials and supplies 280 501
Prepayments and other 5,054 1,482
Total current assets 148,886 139,357
Property and equipment - successful efforts method:    
Wells, platforms and other 178,405 168,139
Undeveloped acreage 25,304 16,692
Work in progress 13,185 8,812
Equipment and other 3,609 2,634
Property, Plant and Equipment, Gross, Total 220,503 196,277
Accumulated depreciation, depletion and amortization (118,003) (99,457)
Net property and equipment 102,500 96,820
Other assets:    
Deferred tax asset 1,349 1,349
Funds in escrow 10,895 874
Total Assets 263,630 238,400
Current liabilities:    
Accounts payable and accrued liabilities 22,408 26,702
Total current liabilities 22,408 26,702
Other liabilities 2,230 2,030
Asset retirement obligations 14,945 13,425
Total Liabilities 39,583 42,157
Commitments and Contingencies (Note 4)    
VAALCO Energy, Inc. shareholders' equity:    
Common stock, $0.10 par value, 100,000,000 authorized shares, 63,124,472 and 62,822,805 shares issued with 6,005,547 and 6,005,547 shares in treasury at September 30, 2011 and December 31, 2010, respectively 6,312 6,282
Additional paid-in capital 67,423 64,314
Retained earnings 172,018 146,594
Less treasury stock, at cost (25,665) (25,665)
Total VAALCO Energy, Inc. shareholders' equity 220,088 191,525
Noncontrolling interest 3,959 4,718
Total Equity 224,047 196,243
Total Liabilities and Equity $ 263,630 $ 238,400