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

Organization and Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2019


	June 30, 2019		December 31, 2018
	(in thousands)
Cash and cash equivalents	$	48,557	$	33,360
Restricted cash - current		799		804
Restricted cash - non-current		922		920
Abandonment funding		11,550		11,571
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows	$	61,828	$	46,655


	Three Months Ended June 30,				Six Months Ended June 30,
	2019			2018	2019		2018
	(in thousands)
Allowance for bad debt
Balance at beginning of year	$	(1,854)	$	(7,164)	$	(2,535)	$	(7,033)
Bad debt recovery (charge)		(5)		(145)		24		(89)
Adjustment associated with settlement of customs audit		—		—		623		—
Foreign currency gain (loss)		(17)		361		12		174
Balance at end of period	$	(1,876)	$	(6,948)	$	(1,876)	$	(6,948)


			As of June 30, 2019
	Balance Sheet Line		Level 1		Level 2		Level 3		Total
			(in thousands)
Assets
Derivative asset commodity swaps		Prepayments and other	$	—	$	1,956	$	—	$	1,956
			$	—	$	1,956	$	—	$	1,956
Liabilities
SARs liability		Accrued liabilities	$	—	$	1,777	$	—	$	1,777
SARs liability		Other long-term liabilities		—		421		—		421
			$	—	$	2,198	$	—	$	2,198

			As of December 31, 2018
	Balance Sheet Line		Level 1		Level 2		Level 3		Total
			(in thousands)
Assets
Derivative asset commodity swaps		Prepayments and other	$	—	$	3,520	$	—	$	3,520
			$	—	$	3,520	$	—	$	3,520
Liabilities
SARs liability		Accrued liabilities	$	—	$	1,007	$	—	$	1,007
SARs liability		Other long-term liabilities		—		625		—		625
			$	—	$	1,632	$	—	$	1,632