| Summary of Quarterly Financial Information |
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| (In thousands of dollars except per share information) |
|
1st
Quarter |
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2nd
Quarter |
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3rd
Quarter |
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|
4th
Quarter |
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|
2012
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|
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Total revenues
(1)
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|
$ |
45,286 |
|
|
$ |
58,818 |
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|
$ |
37,630 |
|
|
$ |
53,553 |
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|
Total operating costs and expenses
|
|
|
15,180 |
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|
|
20,186 |
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|
|
22,036 |
|
|
|
51,292 |
|
|
Operating income
|
|
|
30,106 |
|
|
|
38,632 |
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|
|
15,594 |
|
|
|
2,261 |
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|
Net income
|
|
|
10,527 |
|
|
|
12,317 |
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|
|
1,412 |
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|
|
(18,917 |
) |
|
Net income attributable to noncontrolling interest
|
|
|
(1,509 |
) |
|
|
(1,893 |
) |
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|
(1,306 |
) |
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|
— |
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|
Net income attributable to VAALCO Energy, Inc.
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|
|
9,018 |
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|
10,424 |
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|
106 |
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|
(18,917 |
) |
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Basic net income per share attributable to VAALCO Energy, Inc.
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|
$ |
0.16 |
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|
$ |
0.18 |
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|
$ |
— |
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|
$ |
(0.33 |
) |
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Diluted net income per share attributable to VAALCO Energy, Inc.
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|
$ |
0.15 |
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|
$ |
0.18 |
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|
$ |
— |
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|
$ |
(0.32 |
) |
| (In thousands of dollars except per share information) |
|
1st
Quarter |
|
|
2nd
Quarter |
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|
3rd
Quarter |
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|
4th
Quarter |
|
|
2011
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|
|
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Total revenues
|
|
$ |
46,772 |
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|
$ |
58,547 |
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|
$ |
37,350 |
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|
$ |
67,767 |
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Total operating costs and expenses
|
|
|
15,430 |
|
|
|
16,035 |
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|
|
17,531 |
|
|
|
28,879 |
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|
Operating income
|
|
|
31,342 |
|
|
|
42,512 |
|
|
|
19,819 |
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|
|
38,888 |
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Net income
|
|
|
12,896 |
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|
|
13,510 |
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|
3,455 |
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|
10,701 |
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Net income attributable to noncontrolling interest
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|
(1,657 |
) |
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|
(1,723 |
) |
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|
(1,056 |
) |
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|
(1,981 |
) |
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Net income attributable to VAALCO Energy, Inc.
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|
11,239 |
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|
11,787 |
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|
2,399 |
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|
8,720 |
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| |
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Basic net income per share attributable to VAALCO Energy, Inc.
|
|
$ |
0.20 |
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|
$ |
0.21 |
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|
$ |
0.04 |
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|
$ |
0.15 |
|
| |
|
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Diluted net income per share attributable to VAALCO Energy, Inc.
|
|
$ |
0.19 |
|
|
$ |
0.20 |
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|
$ |
0.04 |
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|
$ |
0.15 |
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| (1) |
The number of oil liftings conducted offshore Gabon were 2, 4, 3, and 5 for the 1
st quarter, the 2
nd quarter, the 3
rd quarter, and the 4
th quarter, respectively
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