VAALCO Energy, Inc. (EGY) Financial Statements (2024 and earlier)

Company Profile

Business Address 9800 RICHMOND AVE.
HOUSTON, TX 77042
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 1311 - Crude Petroleum and Natural Gas (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments46,18652,11937,20569,28953,06218,939
Cash and cash equivalents46,18652,11937,20569,28953,06218,939
Restricted cash and investments113762222032164,230
Receivables124,19197,977139,26536,90281,66559,992
Inventory, net of allowances, customer advances and progress billings10,80011,7783,3354,25413,8674,634
Inventory10,80011,7783,3354,25413,8674,634
Prepaid expense6,6007,2002,700   
Other undisclosed current assets11,47710,22417,37012,6168,0648,408
Total current assets:199,367179,374200,097123,264156,87496,203
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization90,58491,19890,6981,6301,7131,795
Operating lease, right-of-use asset1,6392,2112,7771,7053,4356,872
Nontrade receivables8,8078,0267,1505,8465,7235,692
Property, plant and equipment481,740499,953495,272194,711151,718121,935
Long-term investments and receivables(9,500)(9,000)5,200(6,700)(6)(6,100)
Accounts and financing receivable, after allowance for credit loss(9,500)(9,000)5,200(6,700)(6)(6,100)
Restricted cash and investments1,7791,7711,7631,7551,7521,752
Deferred income tax assets37,15533,43035,43241,49524,44750,296
Other noncurrent assets1,6741,7521,8665,5293,8112,596
Other undisclosed noncurrent assets15,76815,26815,38625,53820,09727,469
Total noncurrent assets:629,646644,609655,544271,509212,690212,307
TOTAL ASSETS:829,013823,983855,641394,773369,564308,510
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities15,3018,05068,04797,84099,915110,737
Taxes payable28,05629,2218,819
Employee-related liabilities2,6761,611
Accounts payable   59,88630,27619,15110,509
Accrued liabilities15,3018,0508,16136,83249,93291,409
Debt7,6846,9077,811317326341
Deferred compensation liability322975705441,0491,422
Derivative instruments and hedges, liabilities     12,547 
Asset retirement obligation5,7292603066,7016,835 
Disposal group, including discontinued operation6736736871477
Other undisclosed current liabilities124,284132,64484,66937,59544,2325,007
Total current liabilities:153,703148,831162,090143,011164,911117,514
Noncurrent Liabilities
Long-term debt and lease obligation79,85680,47078,2481,7721,6631,872
Finance lease, liability79,85680,47078,2481,2511,3311,411
Liabilities, other than long-term debt143,448139,507149,19876,30434,80934,377
Asset retirement obligations42,95842,32741,69535,24734,80934,377
Deferred income tax liabilities82,89579,85481,22341,057  
Other liabilities17,46516,95925,594   
Operating lease, liability130367686521332461
Total noncurrent liabilities:223,304219,977227,44678,07636,47236,249
Total liabilities:377,007368,808389,536221,087201,383153,763
Equity
Equity, attributable to parent452,006455,175466,105173,686168,181154,747
Common stock12,12112,01211,9487,0137,0136,986
Treasury stock, value(59,055)(53,029)(47,652)(44,635)(44,635)(44,234)
Additional paid in capital355,206354,499353,60678,50077,91977,272
Accumulated other comprehensive income3,0601,0541,179   
Retained earnings140,674140,639147,024132,808127,884114,723
Total equity:452,006455,175466,105173,686168,181154,747
TOTAL LIABILITIES AND EQUITY:829,013823,983855,641394,773369,564308,510

Income Statement (P&L) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues109,24080,40396,58878,097110,98568,656
Cost of revenue(44,307)(27,155)(43,861)(32,235)(25,542)(13,679)
Gross profit:64,93353,24852,72745,86285,44354,977
Operating expenses(44,079)(31,629)(28,546)(11,962)(12,296)(14,967)
Other operating income (expense), net(303) 43  (5)
Operating income:20,55121,61924,22433,90073,14740,005
Nonoperating income (expense)(2,209)(3,365)497(4,163)(11,771)(32,457)
Investment income, nonoperating(1,672)(2,225)(1,969)3,544(9,660)(31,761)
Other nonoperating income (expense)(537)(1,140)2,466(7,707)(2,111)(696)
Income from continuing operations before income taxes:18,34218,25424,72129,73761,3767,548
Income tax expense (benefit)(11,588)(14,771)(6,953)(22,843)(46,252)4,628
Income from continuing operations:6,7543,48317,7686,89415,12412,176
Income before gain (loss) on sale of properties:6,89415,12412,164
Loss from discontinued operations (2)(13)   (12)
Other undisclosed net loss   (72)   
Net income:6,7523,47017,6966,89415,12412,164
Other undisclosed net income (loss) attributable to parent   58(26)(20) 
Net income attributable to parent:6,7523,47017,7546,86815,10412,164
Undistributed earnings (loss) allocated to participating securities, basic(27)(29)(137)(75)(229)(139)
Net income available to common stockholders, basic:6,7253,44117,6176,79314,87512,025
Other undisclosed net income (loss) available to common stockholders, diluted27(18)  1 
Net income available to common stockholders, diluted:6,7523,42317,6176,79314,87612,025

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income:6,7523,47017,6966,89415,12412,164
Other comprehensive income (loss)2,000(100)    
Comprehensive income:8,7523,37017,6966,89415,12412,164
Other undisclosed comprehensive income (loss), net of tax, attributable to parent6(25)1,179   
Comprehensive income, net of tax, attributable to parent:8,7583,34518,8756,89415,12412,164

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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