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

Note 1 - Organization and Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2023

	Three Months Ended September 30,						Nine Months Ended September 30,
	2023			2022			2023			2022
	*(in thousands)*
Allowance for credit losses and other
Balance at beginning of period	$	(13,519	)	$	(6,389	)	$	(8,704	)	$	(5,741	)
Credit loss charges and other, net of receipts		(822	)		(1,020	)		(2,437	)		(2,083	)
Cumulative effect of adjustment upon adoption of ASU 2016-13 on January 1, 2023		—			—			(3,120	)		—
Foreign currency gain (loss)		238			355			158			770
Balance at end of period	$	(14,103	)	$	(7,054	)	$	(14,103	)	$	(7,054	)

As of September 30, 2023

Balance Sheet Line

Level 1

Level 2

Level 3

Total

(in thousands)

Assets

Derivative asset

Prepayments and other

—

Liabilities

SARs liability

Accrued liabilities and other

—

239

—

239

Derivative liability

Accrued liabilities and other

—

2,162

—

2,162

—

2,401

—

2,401

`		As of December 31, 2022
	Balance Sheet Line	Level 1		Level 2		Level 3		Total
		*(in thousands)*
Assets
Derivative asset	Prepayments and other	$	—	$	102	$	—	$	102
		$	—	$	102	$	—	$	102
Liabilities
SARs liability	Accrued liabilities and other	$	—	$	556	$	—	$	556
		$	—	$	556	$	—	$	556