Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v2.4.0.6
Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2011
Dec. 31, 2010
Current assets:    
Cash and cash equivalents $ 137,139 $ 81,234
Restricted cash 1,314 14,932
Receivables:    
Trade 10,087 14,068
Accounts with partners, net of allowance of $4.4 million in 2011 6,974 16,180
Other 4,239 10,412
Crude oil inventory 757 548
Materials and supplies 235 501
Prepayments and other 2,178 1,482
Total current assets 162,923 139,357
Property and equipment-successful efforts method:    
Wells, platforms and other production facilities 178,653 168,139
Undeveloped acreage 25,344 16,692
Work in progress 20,703 8,812
Equipment and other 4,543 2,634
Property, Plant and Equipment, Gross, Total 229,243 196,277
Accumulated depreciation, depletion and amortization (129,395) (99,457)
Net property and equipment 99,848 96,820
Other assets:    
Deferred tax asset 1,349 1,349
Restricted cash 10,895 874
Total Assets 275,015 238,400
Current liabilities:    
Accounts payable and accrued liabilities 25,090 26,702
Total current liabilities 25,090 26,702
Asset retirement obligations 14,528 13,425
Other liabilities 2,330 2,030
Total liabilities 41,948 42,157
Commitments and contingencies (Note 7)      
VAALCO Energy Inc. shareholders' equity:    
Common stock, $0.10 par value, 100,000,000 authorized shares, 62,376,563 and 62,822,805 shares issued with 5,257,638 and 6,005,547 shares in treasury at Dec. 31, 2011 and 2010, respectively 6,238 6,282
Additional paid-in capital 66,122 64,314
Retained earnings 180,739 146,594
Less treasury stock, at cost (23,975) (25,665)
Total VAALCO Energy Inc. shareholders' equity 229,124 191,525
Noncontrolling interest 3,943 4,718
Total Equity 233,067 196,243
Total Liabililities and Equity $ 275,015 $ 238,400