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

Note 1 - Organization and Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2023

	*As of June 30,*
	*2023*		*2022*
	*(in thousands)*
Cash and cash equivalents	$	46,186	$	53,062
Restricted cash - current		113		216
Restricted cash - non-current		1,779		1,752
Abandonment funding		6,268		20,091
Total cash, cash equivalents and restricted cash	$	54,346	$	75,121

	Three Months Ended June 30,						Six Months Ended June 30,
	2023			2022			2023			2022
	(in thousands)
Allowance for credit losses and other
Balance at beginning of period	$	(12,832	)	$	(6,135	)	$	(8,704	)	$	(5,741	)
Credit loss charges and other, net of receipts		(680	)		(571	)		(1,615	)		(1,063	)
Cumulative effect of adjustment upon adoption of ASU 2016-13 on January 1, 2023		—			—			(3,120	)		—
Foreign currency gain (loss)		(7	)		317			(80	)		415
Balance at end of period	$	(13,519	)	$	(6,389	)	$	(13,519	)	$	(6,389	)

As of June 30, 2023

Balance Sheet Line

Level 1

Level 2

Level 3

Total

(in thousands)

Assets

Derivative asset

Prepayments and other

—

158

—

158

—

158

—

158

Liabilities

SARs liability

Accrued liabilities and other

—

196

—

196

—

196

—

196

`		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