10-Q Filing

VAALCO ENERGY INC /DE/ CIK: 894627 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0000894627-16-000087`
Period End Date	20160331
Filing Date	20160510
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	egy-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 83 Income Statement 43 Cash Flow Statement 63

Balance Sheet 83 line items

Line Item	Tag	Value	Unit	Period
Allowance for accounts with partners	`AllowanceForDoubtfulAccountsReceivableCurrent`	$7.60M	USD	Point-in-time
Allowance for value added tax receivable	`AllowanceForDoubtfulAccountsReceivableNoncurrent`	$4.70M	USD	Point-in-time
Allowance for value added tax receivable	`AllowanceForDoubtfulAccountsReceivableNoncurrent`	$4.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$24.16M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$25.36M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$46.55M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$69.05M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	500,000.00	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$1.05M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$796.00K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$25.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	66.04M	shares	Point-in-time
Trade	`ReceivablesNetCurrent`	$5.35M	USD	Point-in-time
Trade	`ReceivablesNetCurrent`	$5.42M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	66.04M	shares	Point-in-time
Accounts with partners, net of allowance of $7.6 million at December 31, 2015	`OilAndGasJointInterestBillingReceivablesCurrent`	$23.14M	USD	Point-in-time
Treasury Stock Shares	`TreasuryStockShares`	7.55M	shares	Point-in-time
Treasury Stock Shares	`TreasuryStockShares`	7.51M	shares	Point-in-time
Accounts with partners, net of allowance of $7.6 million at December 31, 2015	`OilAndGasJointInterestBillingReceivablesCurrent`	$27.86M	USD	Point-in-time
Other	`OtherReceivablesNetCurrent`	$133.00K	USD	Point-in-time
Other	`OtherReceivablesNetCurrent`	$42.00K	USD	Point-in-time
Crude oil inventory	`EnergyRelatedInventoryPetroleum`	$920.00K	USD	Point-in-time
Crude oil inventory	`EnergyRelatedInventoryPetroleum`	$639.00K	USD	Point-in-time
Materials and supplies	`OtherInventorySupplies`	$194.00K	USD	Point-in-time
Materials and supplies	`OtherInventorySupplies`	$174.00K	USD	Point-in-time
Prepayments and other	`PrepaidExpenseAndOtherAssetsCurrent`	$3.25M	USD	Point-in-time
Prepayments and other	`PrepaidExpenseAndOtherAssetsCurrent`	$3.58M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$63.74M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$58.32M	USD	Point-in-time
Wells, platforms and other production facilities	`ProvedOilAndGasPropertySuccessfulEffortMethod`	$412.59M	USD	Point-in-time
Wells, platforms and other production facilities	`ProvedOilAndGasPropertySuccessfulEffortMethod`	$412.59M	USD	Point-in-time
Undeveloped acreage	`UnprovedOilAndGasPropertySuccessfulEffortMethod`	$10.00M	USD	Point-in-time
Undeveloped acreage	`UnprovedOilAndGasPropertySuccessfulEffortMethod`	$10.00M	USD	Point-in-time
Equipment and other	`PropertyPlantAndEquipmentOther`	$10.73M	USD	Point-in-time
Equipment and other	`PropertyPlantAndEquipmentOther`	$10.95M	USD	Point-in-time
Property, plant and equipment, gross, Total	`PropertyPlantAndEquipmentGross`	$433.32M	USD	Point-in-time
Property, plant and equipment, gross, Total	`PropertyPlantAndEquipmentGross`	$433.54M	USD	Point-in-time
Accumulated depreciation, depletion and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$402.16M	USD	Point-in-time
Accumulated depreciation, depletion and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$400.17M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$31.16M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$33.37M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$15.83M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$15.83M	USD	Point-in-time
Value added tax receivable, net of allowance of $4.7 million and $4.2 million at March 31, 2016 and December 31, 2015	`ValueAddedTaxReceivableNoncurrent`	$4.69M	USD	Point-in-time
Value added tax receivable, net of allowance of $4.7 million and $4.2 million at March 31, 2016 and December 31, 2015	`ValueAddedTaxReceivableNoncurrent`	$4.22M	USD	Point-in-time
Deferred finance charge	`DeferredFinanceCostsNoncurrentNet`	$1.55M	USD	Point-in-time
Deferred finance charge	`DeferredFinanceCostsNoncurrentNet`	$1.66M	USD	Point-in-time
Abandonment funding	`AbandonmentFunding`	$2.60M	USD	Point-in-time
Abandonment funding	`AbandonmentFunding`	$5.14M	USD	Point-in-time
Abandonment funding	`AbandonmentFunding`	$5.14M	USD	Point-in-time
Total assets	`Assets`	$123.96M	USD	Point-in-time
Total assets	`Assets`	$116.69M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$43.67M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$46.85M	USD	Point-in-time
Foreign taxes payable	`TaxesPayableCurrent`	$2.97M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesCurrent`	$19.80M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesCurrent`	$19.87M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$66.44M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$66.72M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$16.42M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$16.17M	USD	Point-in-time
Long term debt	`LongTermDebtNoncurrent`	$15.00M	USD	Point-in-time
Long term debt	`LongTermDebtNoncurrent`	$15.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$97.88M	USD	Point-in-time
Total liabilities	`Liabilities`	$97.86M	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, none issued, 500,000 shares authorized, $25 par value	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, none issued, 500,000 shares authorized, $25 par value	`PreferredStockValue`	-	USD	Point-in-time
Common stock, 66,041,338 and 66,041,338 shares issued, $0.10 par value, 100,000,000 shares authorized	`CommonStockValue`	$6.60M	USD	Point-in-time
Common stock, 66,041,338 and 66,041,338 shares issued, $0.10 par value, 100,000,000 shares authorized	`CommonStockValue`	$6.60M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$69.98M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$69.12M	USD	Point-in-time
Less treasury stock, 7,554,977 and7,514,169 shares at cost	`TreasuryStockValue`	$37.92M	USD	Point-in-time
Less treasury stock, 7,554,977 and7,514,169 shares at cost	`TreasuryStockValue`	$37.88M	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-19.83M	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-11.76M	USD	Point-in-time
Total equity	`StockholdersEquity`	$26.08M	USD	Point-in-time
Total equity	`StockholdersEquity`	$18.83M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$123.96M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$116.69M	USD	Point-in-time

Income Statement 43 line items

Line Item	Tag	Value	Unit	Period
Oil and natural gas sales	`OilAndGasSalesRevenue`	$10.98M	USD	1 Quarter
Oil and natural gas sales	`OilAndGasSalesRevenue`	$18.24M	USD	1 Quarter
Production expense	`OilAndGasProductionExpense`	$9.91M	USD	1 Quarter
Production expense	`OilAndGasProductionExpense`	$11.25M	USD	1 Quarter
Exploration expense	`ExplorationExpense`	$1.00K	USD	1 Quarter
Exploration expense	`ExplorationExpense`	$27.46M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$5.93M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$2.24M	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$2.98M	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$4.87M	USD	1 Quarter
Impairment of proved properties	`ImpairmentOfLongLivedAssetsHeldForUse`	$5.40M	USD	1 Quarter
Other operating expense	`OtherGeneralExpense`	$8.88M	USD	1 Quarter
General and administrative related to shareholder matters	`ShareholderMatters`	$-453.00K	USD	1 Quarter
Bad debt expense (recovery) and other	`OtherCostAndExpenseOperating`	$280.00K	USD	1 Quarter
Bad debt expense (recovery) and other	`OtherCostAndExpenseOperating`	$-7.29M	USD	1 Quarter
Total operating costs and expenses	`CostsAndExpenses`	$53.86M	USD	1 Quarter
Total operating costs and expenses	`CostsAndExpenses`	$17.62M	USD	1 Quarter
Other operating loss, net	`OtherOperatingIncomeExpenseNet`	$-3.00K	USD	1 Quarter
Other operating loss, net	`OtherOperatingIncomeExpenseNet`	$340.00K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-6.65M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-35.28M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$3.20M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$4.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$310.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$489.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$524.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-56.00K	USD	1 Quarter
Total other income (expense)	`OtherIncomeExpense`	$-362.00K	USD	1 Quarter
Total other income (expense)	`OtherIncomeExpense`	$3.24M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-35.64M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-3.41M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$3.37M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$4.65M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-39.01M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.06M	USD	1 Quarter
Basic net loss per share	`EarningsPerShareBasic`	$-0.14	USD	1 Quarter
Basic net loss per share	`EarningsPerShareBasic`	$-0.67	USD	1 Quarter
Diluted net loss per share	`EarningsPerShareDiluted`	$-0.14	USD	1 Quarter
Diluted net loss per share	`EarningsPerShareDiluted`	$-0.67	USD	1 Quarter
Basic weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	58.51M	shares	1 Quarter
Basic weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	57.98M	shares	1 Quarter
Diluted weighted average shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	57.98M	shares	1 Quarter
Diluted weighted average shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	58.51M	shares	1 Quarter

Cash Flow Statement 63 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-39.01M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.06M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$5.93M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$2.24M	USD	1 Quarter
Amortization of debt issuance cost	`AmortizationOfFinancingCosts`	$103.00K	USD	1 Quarter
Amortization of debt issuance cost	`AmortizationOfFinancingCosts`	$160.00K	USD	1 Quarter
Unrealized foreign exchange (gain) loss	`ForeignCurrencyTransactionGainLossUnrealized`	$398.00K	USD	1 Quarter
Dry hole costs and impairment loss on unproved leasehold	`ExplorationAbandonmentAndImpairmentExpense`	$27.22M	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$859.00K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$1.65M	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$343.00K	USD	1 Quarter
Other operating (income) loss, net	`OtherOperatingIncomeExpenseNet`	$-3.00K	USD	1 Quarter
Other operating (income) loss, net	`OtherOperatingIncomeExpenseNet`	$340.00K	USD	1 Quarter
Impairment of proved properties	`ImpairmentOfLongLivedAssetsHeldForUse`	$5.40M	USD	1 Quarter
Trade receivables	`IncreaseDecreaseInAccountsReceivable`	$-318.00K	USD	1 Quarter
Trade receivables	`IncreaseDecreaseInAccountsReceivable`	$70.00K	USD	1 Quarter
Accounts with partners	`IncreaseDecreaseInOilAndGasJointInterestBillingReceivables`	$14.57M	USD	1 Quarter
Accounts with partners	`IncreaseDecreaseInOilAndGasJointInterestBillingReceivables`	$-4.72M	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$91.00K	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$2.77M	USD	1 Quarter
Crude oil inventory	`IncreaseDecreaseInInventories`	$-213.00K	USD	1 Quarter
Crude oil inventory	`IncreaseDecreaseInInventories`	$281.00K	USD	1 Quarter
Materials and supplies	`IncreaseDecreaseInMaterialsAndSupplies`	$-53.00K	USD	1 Quarter
Materials and supplies	`IncreaseDecreaseInMaterialsAndSupplies`	$-20.00K	USD	1 Quarter
Value added tax receivable	`IncreaseDecreaseInValueAddedTaxReceivable`	$690.00K	USD	1 Quarter
Prepayments and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$317.00K	USD	1 Quarter
Prepayments and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-655.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.75M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$6.88M	USD	1 Quarter
Accrued liabilities and other	`IncreaseDecreaseInAccruedLiabilities`	$7.59M	USD	1 Quarter
Accrued liabilities and other	`IncreaseDecreaseInAccruedLiabilities`	$1.23M	USD	1 Quarter
Foreign taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$2.97M	USD	1 Quarter
Net cash provided by (used in )operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-180.00K	USD	1 Quarter
Net cash provided by (used in )operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-601.00K	USD	1 Quarter
Decrease in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-252.00K	USD	1 Quarter
Decrease in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-5.39M	USD	1 Quarter
Property and equipment expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$28.07M	USD	1 Quarter
Property and equipment expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.29M	USD	1 Quarter
Proceeds from sales of oil and gas properties	`ProceedsFromSaleOfOilAndGasPropertyAndEquipment`	$340.00K	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$18.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.02M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-22.34M	USD	1 Quarter
Proceeds from the issuances of common stock	`ProceedsFromIssuanceOfCommonStock`	$445.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$445.00K	USD	1 Quarter
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-22.50M	USD	1 Quarter
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.20M	USD	1 Quarter
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$24.16M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$25.36M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$46.55M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$69.05M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$24.16M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$25.36M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$46.55M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$69.05M	USD	Point-in-time
Interest paid, net of capitalized interest	`InterestPaid`	$310.00K	USD	1 Quarter
Interest paid, net of capitalized interest	`InterestPaid`	$489.00K	USD	1 Quarter
Taxes paid	`IncomeTaxesPaid`	$1.83M	USD	1 Quarter
Taxes paid	`IncomeTaxesPaid`	$3.40M	USD	1 Quarter
Property and equipment additions incurred during the period but not paid at period end	`CapitalExpendituresIncurredButNotYetPaid`	$27.91M	USD	1 Quarter
Property and equipment additions incurred during the period but not paid at period end	`CapitalExpendituresIncurredButNotYetPaid`	$15.57M	USD	1 Quarter
Asset retirement cost capitalized	`AssetRetirementCostCapitalized`	$203.00K	USD	1 Quarter
Asset retirement cost capitalized	`AssetRetirementCostCapitalized`	$42.00K	USD	1 Quarter
Receivable from Shareholders or Affiliates for Issuance of Capital Stock	`ReceivableFromShareholdersOrAffiliatesForIssuanceOfCapitalStock`	$29.00K	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.