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 9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Revenues:        
Oil and gas sales $ 37,350 $ 32,604 $ 142,669 $ 96,285
Operating costs and expenses:        
Production expenses 4,473 4,815 15,513 15,881
Exploration expense 1,264 695 3,572 2,114
Depreciation, depletion and amortization 5,153 4,542 17,796 12,860
General and administrative expenses 2,580 949 8,055 5,855
Bad debt expenses 4,061   4,061  
Total operating costs and expenses 17,531 11,001 48,997 36,710
Operating income 19,819 21,603 93,672 59,575
Other income (expense):        
Interest income 53 26 136 89
Other, net 700 (327) 1,098 (554)
Total other income (expense) 753 (301) 1,234 (465)
Income before income taxes 20,572 21,302 94,906 59,110
Income tax expense 17,117 7,369 65,046 26,839
Net income 3,455 13,933 29,860 32,271
Less net income attributable to noncontrolling interest (1,056) (1,482) (4,436) (3,816)
Net income attributable to VAALCO Energy, Inc. $ 2,399 $ 12,451 $ 25,424 $ 28,455
Basic net income per share attributable to VAALCO Energy, Inc. common shareholders $ 0.04 $ 0.22 $ 0.45 $ 0.50
Diluted net income per share attributable to VAALCO Energy, Inc. common shareholders $ 0.04 $ 0.22 $ 0.44 $ 0.50
Basic weighted shares outstanding 57,072 56,435 57,023 56,428
Diluted weighted shares outstanding 57,878 57,193 57,993 56,923