$EGY
VAALCO ENERGY INC /DE/

2021 Q1 Form 10-Q Financial Statement

#000089462721000024 Filed on May 12, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $39.77M $18.39M
YoY Change 116.29% -6.96%
Cost Of Revenue $13.48M $7.540M
YoY Change 78.78% 13.9%
Gross Profit $26.29M $10.85M
YoY Change 142.3% -17.43%
Gross Profit Margin 66.1% 59.0%
Selling, General & Admin $7.300M $3.770M
YoY Change 93.63% -37.27%
% of Gross Profit 27.77% 34.75%
Research & Development $140.0K
YoY Change
% of Gross Profit 0.53%
Depreciation & Amortization $4.148M $3.103M
YoY Change 33.68% 99.81%
% of Gross Profit 15.78% 28.6%
Operating Expenses $11.95M $6.900M
YoY Change 73.19% -9.21%
Operating Profit $14.34M -$26.68M
YoY Change -153.75% -581.12%
Interest Expense -$5.950M $7.460M
YoY Change -179.76% 3889.3%
% of Operating Profit -41.48%
Other Income/Expense, Net -$1.369M $7.424M
YoY Change -118.44% -478.2%
Pretax Income $12.97M -$19.26M
YoY Change -167.37% -637.51%
Income Tax $3.086M $33.48M
% Of Pretax Income 23.79%
Net Earnings $9.869M -$52.80M
YoY Change -118.69% -912.18%
Net Earnings / Revenue 24.81% -287.13%
Basic Earnings Per Share $0.17 -$0.91
Diluted Earnings Per Share $0.17 -$0.91
COMMON SHARES
Basic Shares Outstanding 57.64M 57.98M
Diluted Shares Outstanding 58.46M 57.98M

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $19.30M $61.00M
YoY Change -68.36% 32.03%
Cash & Equivalents $19.25M $60.97M
Short-Term Investments
Other Short-Term Assets $5.300M $11.90M
YoY Change -55.46% 170.45%
Inventory $800.0K $3.900M
Prepaid Expenses
Receivables $23.80M $100.0K
Other Receivables $29.00K $2.241M
Total Short-Term Assets $49.31M $79.05M
YoY Change -37.62% 27.44%
LONG-TERM ASSETS
Property, Plant & Equipment $78.19M $43.50M
YoY Change 79.75% -16.45%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $24.60M $12.20M
YoY Change 101.64% -75.25%
Total Long-Term Assets $127.8M $89.64M
YoY Change 42.59% -35.73%
TOTAL ASSETS
Total Short-Term Assets $49.31M $79.05M
Total Long-Term Assets $127.8M $89.64M
Total Assets $177.1M $168.7M
YoY Change 5.01% -16.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.12M $14.80M
YoY Change -31.63% 254.67%
Accrued Expenses $33.78M $22.99M
YoY Change 46.92% 51.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $65.10M $65.69M
YoY Change -0.89% 51.82%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $73.00K $34.00K
YoY Change 114.71% -94.55%
Total Long-Term Liabilities $73.00K $34.00K
YoY Change 114.71% -94.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $65.10M $65.69M
Total Long-Term Liabilities $73.00K $34.00K
Total Liabilities $105.5M $112.3M
YoY Change -6.0% 31.78%
SHAREHOLDERS EQUITY
Retained Earnings $32.52M $18.03M
YoY Change 80.34% -75.98%
Common Stock $81.90M $80.46M
YoY Change 1.78% 1.66%
Preferred Stock
YoY Change
Treasury Stock (at cost) $42.82M $42.08M
YoY Change 1.77% 10.94%
Treasury Stock Shares $10.52M $10.17M
Shareholders Equity $71.59M $56.41M
YoY Change
Total Liabilities & Shareholders Equity $177.1M $168.7M
YoY Change 5.01% -16.28%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $9.869M -$52.80M
YoY Change -118.69% -912.18%
Depreciation, Depletion And Amortization $4.148M $3.103M
YoY Change 33.68% 99.81%
Cash From Operating Activities $1.742M $27.63M
YoY Change -93.69% 104.87%
INVESTING ACTIVITIES
Capital Expenditures -$19.10M $11.98M
YoY Change -259.43% 1420.3%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$19.06M -$11.98M
YoY Change 59.07% 1420.3%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $56.00K $652.0K
YoY Change -91.41% 1024.14%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -56.00K -652.0K
YoY Change -91.41% 1024.14%
NET CHANGE
Cash From Operating Activities 1.742M 27.63M
Cash From Investing Activities -19.06M -11.98M
Cash From Financing Activities -56.00K -652.0K
Net Change In Cash -17.37M 15.00M
YoY Change -215.84% 18.64%
FREE CASH FLOW
Cash From Operating Activities $1.742M $27.63M
Capital Expenditures -$19.10M $11.98M
Free Cash Flow $20.84M $15.65M
YoY Change 33.2% 23.23%

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CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-52800000
CY2021Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-19000
CY2020Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-63000
CY2021Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4148000
CY2020Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3103000
CY2021Q1 us-gaap Business Combination Bargain Purchase Gain Recognized Amount
BusinessCombinationBargainPurchaseGainRecognizedAmount
7651000
CY2020Q1 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
30625000
CY2020Q1 egy Other Amorization Inventory Obsolescence
OtherAmorizationInventoryObsolescence
60000
CY2021Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1809000
CY2020Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
35638000
CY2021Q1 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
400000
CY2020Q1 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
22000
CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1559000
CY2020Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-31000
CY2021Q1 egy Operational Expenses Associated With Equipment And Other
OperationalExpensesAssociatedWithEquipmentAndOther
247000
CY2020Q1 egy Operational Expenses Associated With Equipment And Other
OperationalExpensesAssociatedWithEquipmentAndOther
578000
CY2021Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
12647000
CY2020Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-14335000
CY2021Q1 egy Increase Decrease In Oil And Gas Joint Interest Billing Receivables
IncreaseDecreaseInOilAndGasJointInterestBillingReceivables
-275000
CY2020Q1 egy Increase Decrease In Oil And Gas Joint Interest Billing Receivables
IncreaseDecreaseInOilAndGasJointInterestBillingReceivables
-13812000
CY2020Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
2793000
CY2021Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3240000
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-652000
CY2020Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
993000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-17370000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
14995000
CY2021Q1 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
53000
CY2020Q1 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
755000
CY2021Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-5795000
CY2021Q1 egy Increase Decrease In Value Added Tax Receivable
IncreaseDecreaseInValueAddedTaxReceivable
149000
CY2020Q1 egy Increase Decrease In Value Added Tax Receivable
IncreaseDecreaseInValueAddedTaxReceivable
370000
CY2021Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-6627000
CY2020Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1130000
CY2021Q1 egy Increase Decrease In Foreign Taxes Receivable And Payable
IncreaseDecreaseInForeignTaxesReceivableAndPayable
-5524000
CY2020Q1 egy Increase Decrease In Foreign Taxes Receivable And Payable
IncreaseDecreaseInForeignTaxesReceivableAndPayable
1284000
CY2021Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-576000
CY2020Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-2073000
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
1755000
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
27645000
CY2021Q1 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
-13000
CY2020Q1 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
-18000
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1742000
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
27627000
CY2021Q1 us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
1198000
CY2020Q1 us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
11980000
CY2021Q1 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
17858000
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-19056000
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-11980000
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-19056000
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-11980000
CY2021Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
347000
CY2021Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
403000
CY2020Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
652000
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-56000
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-652000
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-56000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
61317000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
59124000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
43947000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
74119000
CY2021Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
3137000
CY2020Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
10991000
CY2020Q1 egy Recognition Of Asset Retirement Obligations
RecognitionOfAssetRetirementObligations
359000
CY2021Q1 us-gaap Nature Of Operations
NatureOfOperations
<span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">VAALCO Energy, Inc. (together with its consolidated subsidiaries “we”, “us”, “our”, “VAALCO,” or the “Company”) </span><span style="white-space:pre-wrap; color: #000000;font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">is a Houston, Texas based independent energy company engaged in the acquisition, exploration, development and production of crude oil. As operator, the Company has production operations and conducts exploration activities in Gabon, West Africa. The Company also has opportunities to participate in development and exploration activities in Equatorial Guinea, West Africa. As discussed further in Note 3 below, the Company has discontinued operations associated with activities in Angola, West Africa.</span><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 10pt;line-height: 108%;margin-bottom: 6pt;margin-left: 0;margin-right: 0;margin-top: 6pt;"><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">VAALCO’s consolidated subsidiaries are VAALCO Gabon (Etame), Inc., VAALCO Production (Gabon), Inc., VAALCO Gabon S.A., VAALCO Angola (Kwanza), Inc., VAALCO Energy (EG), Inc., VAALCO Energy Mauritius (EG) Limited and VAALCO Energy (USA), Inc.</span></p>
CY2021Q1 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
19251000
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
60973000
CY2021Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
82000
CY2020Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
994000
CY2021Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
1752000
CY2020Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
925000
CY2021Q1 egy Abandonment Funding
AbandonmentFunding
22862000
CY2020Q1 egy Abandonment Funding
AbandonmentFunding
11227000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
43947000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
74119000
CY2021Q1 us-gaap Accounts Receivable Gross Noncurrent
AccountsReceivableGrossNoncurrent
8800000
CY2021Q1 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
559.3
CY2020Q4 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
534.8
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2273000
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1508000
CY2021Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
101000
CY2020Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
810000
CY2020Q1 egy Allowance For Doubtful Accounts Receivable Recovery Adjustments
AllowanceForDoubtfulAccountsReceivableRecoveryAdjustments
593000
CY2021Q1 egy Allowance For Doubtful Accounts Business Acquisition Adjustment
AllowanceForDoubtfulAccountsBusinessAcquisitionAdjustment
2879000
CY2021Q1 egy Allowance For Bad Debts Foreign Currency Gain
AllowanceForBadDebtsForeignCurrencyGain
161000
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
5092000
CY2020Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1725000
CY2020Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0
CY2021Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0
CY2021Q1 us-gaap Deferred Compensation Liability Current
DeferredCompensationLiabilityCurrent
2792000
CY2021Q1 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
4244000
CY2021Q1 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
5000000
CY2021Q1 us-gaap Deferred Compensation Liability Classified Noncurrent
DeferredCompensationLiabilityClassifiedNoncurrent
73000
CY2021Q1 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
12109000
CY2020Q4 us-gaap Deferred Compensation Liability Current
DeferredCompensationLiabilityCurrent
2289000
CY2020Q4 us-gaap Deferred Compensation Liability Classified Noncurrent
DeferredCompensationLiabilityClassifiedNoncurrent
193000
CY2020Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
2482000
CY2021Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2021Q1 us-gaap Revenues
Revenues
39774000
CY2021Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4148000
CY2021Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
14343000
CY2021Q1 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-5954000
CY2021Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
4580000
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3086000
CY2021Q1 us-gaap Property Plant And Equipment Gross Period Increase Decrease
PropertyPlantAndEquipmentGrossPeriodIncreaseDecrease
2515000
CY2020Q1 us-gaap Revenues
Revenues
18389000
CY2020Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3103000
CY2020Q1 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
30625000
CY2020Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
810000
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-26683000
CY2020Q1 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
7339000
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
33478000
CY2020Q1 us-gaap Property Plant And Equipment Gross Period Increase Decrease
PropertyPlantAndEquipmentGrossPeriodIncreaseDecrease
9421000
CY2021Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
9888000
CY2020Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-52737000
CY2021Q1 us-gaap Undistributed Continuing Operation Earnings Loss Allocation To Participating Securities Basic
UndistributedContinuingOperationEarningsLossAllocationToParticipatingSecuritiesBasic
187000
CY2021Q1 us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Basic
NetIncomeLossFromContinuingOperationsAvailableToCommonShareholdersBasic
9701000
CY2020Q1 us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Basic
NetIncomeLossFromContinuingOperationsAvailableToCommonShareholdersBasic
-52737000
CY2021Q1 us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Diluted
NetIncomeLossFromContinuingOperationsAvailableToCommonShareholdersDiluted
9701000
CY2020Q1 us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Diluted
NetIncomeLossFromContinuingOperationsAvailableToCommonShareholdersDiluted
-52737000
CY2021Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-19000
CY2020Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-63000
CY2021Q1 us-gaap Net Income Loss From Discontinued Operations Available To Common Shareholders Basic
NetIncomeLossFromDiscontinuedOperationsAvailableToCommonShareholdersBasic
-19000
CY2020Q1 us-gaap Net Income Loss From Discontinued Operations Available To Common Shareholders Basic
NetIncomeLossFromDiscontinuedOperationsAvailableToCommonShareholdersBasic
-63000
CY2021Q1 us-gaap Net Income Loss From Discontinued Operations Available To Common Shareholders Diluted
NetIncomeLossFromDiscontinuedOperationsAvailableToCommonShareholdersDiluted
-19000
CY2020Q1 us-gaap Net Income Loss From Discontinued Operations Available To Common Shareholders Diluted
NetIncomeLossFromDiscontinuedOperationsAvailableToCommonShareholdersDiluted
-63000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
9869000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-52800000
CY2021Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
187000
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
9682000
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-52800000
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
9682000
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-52800000
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
57636000
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
57975000
CY2021Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
825000
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
58461000
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57975000
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
298000
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
725000
CY2021Q1 egy Interval Period Between Lifting
IntervalPeriodBetweenLifting
P30D
CY2021Q1 egy Foreign Taxes Payable Attributable To Sharing Obligation
ForeignTaxesPayableAttributableToSharingObligation
6400000
CY2020Q4 egy Foreign Taxes Payable Attributable To Sharing Obligation
ForeignTaxesPayableAttributableToSharingObligation
900000
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
43829000
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
20444000
CY2021Q1 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
1822000
CY2020Q1 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
885000
CY2021Q1 us-gaap Royalty Expense
RoyaltyExpense
5877000
CY2020Q1 us-gaap Royalty Expense
RoyaltyExpense
2940000
CY2021Q1 us-gaap Revenues
Revenues
39774000
CY2020Q1 us-gaap Revenues
Revenues
18389000
CY2021Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
517770000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
472800000
CY2021Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
439578000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
435764000
CY2021Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
78192000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
37036000
CY2021Q1 us-gaap Derivative Nonmonetary Notional Amount Volume
DerivativeNonmonetaryNotionalAmountVolume
550523
CY2021Q1 egy Accrued Liabilities Current Accounts Payable Invoices
AccruedLiabilitiesCurrentAccountsPayableInvoices
7475000
CY2020Q4 egy Accrued Liabilities Current Accounts Payable Invoices
AccruedLiabilitiesCurrentAccountsPayableInvoices
4070000
CY2021Q1 egy Joint Venture Audit Settlement
JointVentureAuditSettlement
7921000
CY2020Q4 egy Joint Venture Audit Settlement
JointVentureAuditSettlement
3960000
CY2021Q1 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
4244000
CY2021Q1 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
5000000
CY2021Q1 egy Capital Expenditures Incurred But Not Yet Paid Current Liabilities
CapitalExpendituresIncurredButNotYetPaidCurrentLiabilities
2364000
CY2020Q4 egy Capital Expenditures Incurred But Not Yet Paid Current Liabilities
CapitalExpendituresIncurredButNotYetPaidCurrentLiabilities
435000
CY2021Q1 us-gaap Deferred Compensation Share Based Arrangements Liability Current
DeferredCompensationShareBasedArrangementsLiabilityCurrent
2792000
CY2020Q4 us-gaap Deferred Compensation Share Based Arrangements Liability Current
DeferredCompensationShareBasedArrangementsLiabilityCurrent
2289000
CY2021Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
940000
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2108000
CY2021Q1 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
3041000
CY2020Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
4322000
CY2021Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
33777000
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
17184000
CY2021Q1 egy Foreign Currency Gain Loss On Abandonment Funding
ForeignCurrencyGainLossOnAbandonmentFunding
500000
CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
4390000
CY2020Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
4190000
CY2021Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
794000
CY2020Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1032000
CY2021Q1 us-gaap Variable Lease Cost
VariableLeaseCost
1434000
CY2020Q1 us-gaap Variable Lease Cost
VariableLeaseCost
1926000
CY2021Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
6618000
CY2020Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
7148000
CY2020Q1 egy Lease Costs Capital Expenditures
LeaseCostsCapitalExpenditures
3281000
CY2021Q1 us-gaap Lease Cost
LeaseCost
6618000
CY2020Q1 us-gaap Lease Cost
LeaseCost
10429000
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
4773000
CY2020Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
8510000
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y6M
CY2020Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y6M
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0609
CY2020Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0616
CY2021Q1 egy Operating Lease Expense Gross
OperatingLeaseExpenseGross
6618000
CY2020Q1 egy Operating Lease Expense Gross
OperatingLeaseExpenseGross
9327000
CY2020Q1 egy Lease Costs Capital Expenditures Net
LeaseCostsCapitalExpendituresNet
1102000
CY2021Q1 us-gaap Lease Cost
LeaseCost
6618000
CY2020Q1 us-gaap Lease Cost
LeaseCost
10429000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
10437000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
9685000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
179000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
20301000
CY2021Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
852000
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
19449000
CY2021Q1 us-gaap Oil And Gas Joint Interest Billing Receivables
OilAndGasJointInterestBillingReceivables
8400000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
20300000
CY2021Q1 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
298000
CY2020Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
17334000
CY2019Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
15844000
CY2020 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
893000
CY2021Q1 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
14564000
CY2020 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
359000
CY2020 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
238000
CY2021Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
32196000
CY2020Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
17334000
CY2020 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
400000
CY2020 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
200000
CY2021Q1 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
14600000
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
500000
CY2021Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
500000
CY2021Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
25
CY2020Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2021Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2019Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Share Based Liabilities Paid
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsShareBasedLiabilitiesPaid
900000
CY2021Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
300000
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.75
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1559000
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
-2569000
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
401759
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
3.14
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
3.14
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0095
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.07
CY2021Q1 egy Severance Cost As Percentage Of Target Bonus
SeveranceCostAsPercentageOfTargetBonus
0.75
CY2020Q1 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-597000
CY2021Q1 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-2153000
CY2020Q1 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
12036000
CY2021Q1 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
3435000
CY2020Q1 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
-1563000
CY2021Q1 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
1804000
CY2020Q1 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
23602000
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3086000
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
33478000
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.64
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.68
CY2021Q1 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-2300000
CY2021Q1 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
3400000
CY2021Q1 egy Income Tax Benefit Favorable Oil Price Adjustment
IncomeTaxBenefitFavorableOilPriceAdjustment
500000
CY2021Q1 egy Current Foreign Income Tax Expense Benefit Net Of Favorable Oil Price Adjustment
CurrentForeignIncomeTaxExpenseBenefitNetOfFavorableOilPriceAdjustment
2900000
CY2021Q1 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
0

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