Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v2.4.0.6
Condensed Consolidated Balance Sheets (Unaudited) (USD $)
In Thousands, unless otherwise specified
Sep. 30, 2012
Dec. 31, 2011
Current assets:    
Cash and cash equivalents $ 136,264 $ 137,139
Restricted cash 1,259 1,314
Receivables:    
Trade 11,747 10,087
Accounts with partners, net of allowance of $5.4 million and $4.4 million at September 30, 2012 and December 31, 2011, respectively 8,545 6,974
Other 3,027 4,239
Crude oil inventory 2,368 757
Materials and supplies 376 235
Prepayments and other 5,007 2,178
Total current assets 168,593 162,923
Property and equipment - successful efforts method:    
Wells, platforms and other 190,484 178,653
Undeveloped acreage 26,187 25,344
Work in progress 44,528 20,703
Equipment and other 6,653 4,543
Property, plant and equipment, gross, total 267,852 229,243
Accumulated depreciation, depletion and amortization (153,541) (129,395)
Net property and equipment 114,311 99,848
Other assets:    
Deferred tax asset 1,349 1,349
Restricted cash 10,895 10,895
Total Assets 295,148 275,015
Current liabilities:    
Accounts payable and accrued liabilities 25,511 25,090
Total current liabilities 25,511 25,090
Other liabilities 2,630 2,330
Asset retirement obligations 9,853 14,528
Total Liabilities 37,994 41,948
Commitments and Contingencies (Note 4)      
VAALCO Energy, Inc. shareholders' equity:    
Common stock, $0.10 par value, 100,000,000 authorized shares, 63,103,438 and 62,376,563 shares issued with 5,257,638 and 5,257,638 shares in treasury at September 30, 2012 and December 31, 2011, respectively 6,310 6,238
Additional paid-in capital 71,474 66,122
Retained earnings 200,289 180,739
Less treasury stock, at cost (23,975) (23,975)
Total VAALCO Energy, Inc. shareholders' equity 254,098 229,124
Noncontrolling interest 3,056 3,943
Total Equity 257,154 233,067
Total Liabilities and Equity $ 295,148 $ 275,015