VAALCO Energy, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Note 3 - Acquisitions and Dispositions (Tables)

Note 3 - Acquisitions and Dispositions (Tables)

9 Months Ended

Sep. 30, 2022

Notes Tables

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

		February 25, 2021
		*(in thousands)*
Purchase Consideration
Cash		$	33,959
Fair value of contingent consideration			4,647
Total purchase consideration		$	38,606

		February 25, 2021
		*(in thousands)*
Assets acquired:
Wells, platforms and other production facilities		$	37,176
Equipment and other			5,568
Value added tax and other receivables			1,234
Abandonment funding			11,781
Accounts receivable - trade			11,220
Other current assets			3,963
Liabilities assumed:
Asset retirement obligations			(14,564	)
Accrued liabilities and other			(10,121	)
Bargain purchase gain			(7,651	)
Total purchase price		$	38,606

Business Acquisition, Pro Forma Information [Table Text Block]

		*Three Months Ended September 30,*				*Nine Months Ended September 30,*
		*2021*				*2021*
		*(in thousands - unaudited)*
Pro forma (unaudited)
Crude oil and natural gas sales		$	55,899			$	160,469
Operating income			20,030				63,929
Net income			31,721				49,341		(a)

Basic net income loss per share:
Income from continuing operations		$	0.53			$	0.85
Net income per share		$	0.53			$	0.85
Basic weighted average shares outstanding			58,586				58,102
Diluted net income per share:
Income from continuing operations		$	0.53			$	0.84
Net income per share		$	0.53			$	0.84
Diluted weighted average shares outstanding			58,916				58,654