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, 2012
Dec. 31, 2011
Current assets:    
Cash and cash equivalents $ 130,800 $ 137,139
Restricted cash 1,257 1,314
Receivables:    
Trade 7,961 10,087
Accounts with partners, net of allowance of $6.0 million in 2012 and 4.4 million in 2011 689 6,974
Other 4,463 4,239
Crude oil inventory 683 757
Materials and supplies 337 235
Prepayments and other 2,935 2,178
Total current assets 149,125 162,923
Property and equipment-successful efforts method:    
Wells, platforms and other production facilities 188,208 178,653
Undeveloped acreage 28,657 25,344
Work in progress 38,137 20,703
Equipment and other 7,574 4,543
Property, plant and equipment, gross, Total 262,576 229,243
Accumulated depreciation, depletion and amortization (155,968) (129,395)
Net property and equipment 106,608 99,848
Other assets:    
Deferred tax asset 1,349 1,349
Restricted cash 10,874 10,895
Total Assets 267,956 275,015
Current liabilities:    
Accounts payable and accrued liabilities 30,326 24,677
Accounts with partners 14,737 413
Total current liabilities 45,063 25,090
Asset retirement obligations 10,368 14,528
Other liabilities   2,330
Total liabilities 55,431 41,948
Commitments and contingencies (Note 6)      
VAALCO Energy Inc. shareholders' equity:    
Common stock, $0.10 par value, 100,000,000 authorized shares, 63,135,772 and 62,376,563 shares issued with 5,257,638 and 5,257,638 shares in treasury at Dec. 31, 2012 and 2011, respectively 6,314 6,238
Additional paid-in capital 48,816 66,122
Retained earnings 181,370 180,739
Less treasury stock, at cost (23,975) (23,975)
Total VAALCO Energy Inc. shareholders' equity 212,525 229,124
Noncontrolling interest   3,943
Total Equity 212,525 233,067
Total Liabilities and Equity $ 267,956 $ 275,015