VAALCO ENERGY INC /DE/

For the period ended Mar 31, 2025. Filed May 12, 2025.

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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2025 · Filed May 12, 2025

EGY$5.37-0.4%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Balance Sheets March and December 31,

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

	As of March 31, 2025	As of December 31, 2024
(in thousands)
ASSETS
Current assets:
Cash and cash equivalents	$40,914	$82,650
Restricted cash	9,717	143
Receivables:
Trade, net of allowances for credit loss and other of $0.2 million and $0.2 million, respectively	120,252	94,778
Accounts with joint venture owners, net of allowance for credit losses of $1.8 million and $1.5 million, respectively	2,847	179
Egypt receivables and other	3,235	35,763
Crude oil inventory	7,990	9,441
Prepayments and other	15,883	14,973
Total current assets	200,838	237,927
Crude oil, natural gas and NGLs properties and equipment, net	562,926	538,103
Other noncurrent assets:
Restricted cash	—	8,665
Value added tax and other receivables, net of allowances for credit loss and other of $0.5 million and $0.8 million, respectively	5,379	10,094
Right of use operating lease assets	16,303	17,254
Right of use finance lease assets	78,862	79,849
Deferred tax assets	48,364	55,581
Abandonment funding	6,268	6,268
Other long-term assets	8,163	1,209
Total assets	$927,103	$954,950
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable	$18,793	$11,756
Accounts with joint venture owners	2,462	3,324
Accrued liabilities and other	115,017	107,710
Operating lease liabilities - current portion	3,724	3,512
Finance lease liabilities - current portion	13,526	13,383
Foreign income taxes payable	24,153	42,043
Total current liabilities	177,675	181,728
Asset retirement obligations	81,053	78,592
Operating lease liabilities - net of current portion	12,915	13,903
Finance lease liabilities - net of current portion	66,198	67,377
Deferred tax liabilities	85,168	93,904
Other long-term liabilities	—	17,863
Total liabilities	423,009	453,367
Commitments and contingencies (Note 10)
Shareholders’ equity:
Preferred stock, $25 par value; 500,000 shares authorized, none issued	—	—
Common stock,$0.10 par value; 160,000,000 shares authorized, 122,419,929 and 122,304,124 shares issued, 103,819,046 and 103,743,163 shares outstanding, respectively	12,242	12,230
Additional paid-in capital	363,955	362,578
Accumulated other comprehensive income (loss)	(4,845)	(4,962)
Less treasury stock, 18,600,883 and 18,560,931 shares, respectively, at cost	(78,179)	(78,024)
Retained earnings	210,921	209,761
Total shareholders' equity	504,094	501,583
Total liabilities and shareholders' equity	$927,103	$954,950

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.