VAALCO Energy (EGY) 10-K 6 Apr 23 2022 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2022	Mar. 31, 2023	Jun. 30, 2022
Document Information [Line Items]
Entity Central Index Key	0000894627
Entity Registrant Name	VAALCO ENERGY INC /DE/
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2022
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Document Transition Report	false
Entity File Number	1-32167
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	76-0274813
Entity Address, Address Line One	9800 Richmond Avenue Suite 700
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77042
City Area Code	713
Local Phone Number	623-0801
Title of 12(b) Security	Common Stock, par value $0.10
Trading Symbol	EGY
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 403,300,000
Entity Common Stock, Shares Outstanding		107,318,214
Auditor Name	BDO USA, LLP
Auditor Location	Houston, Texas
Auditor Firm ID	243

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022		Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 37,205		$ 48,675
Restricted cash	222		79
Receivables:
Trade, net	52,147		22,464
Accounts with joint venture owners, net of allowance of $0.0 million in both periods presented	15,830		345
Foreign income taxes receivable	2,769		0
Other, net	68,519		9,977
Crude oil inventory	3,335		1,593
Prepayments and other	20,070		5,156
Total current assets	200,097		88,289
Crude oil and natural gas properties, equipment and other - successful efforts method, net	495,272		94,324
Other noncurrent assets:
Restricted cash	1,763		1,752
Value added tax and other receivables, net of allowance of $8.7 million and $5.7 million, respectively	7,150		5,536
Right of use operating lease assets	2,777		10,227
Right of use finance lease assets	90,698		0
Deferred tax assets	35,432		39,978
Abandonment funding	20,586		21,808
Other long-term assets	1,866		1,176
Total assets	855,641	[1]	263,090	[2]
Current liabilities:
Accounts payable	59,886		18,797
Accounts with joint venture owners	0		3,233
Accrued liabilities and other	91,392		49,444
Operating lease liabilities - current portion	2,314		9,642
Finance lease liabilities - current portion	7,811		0
Foreign income taxes payable	0		3,128
Current liabilities - discontinued operations	687		13
Total current liabilities	162,090		84,257
Asset retirement obligations	41,695		33,949
Operating lease liabilities - net of current portion	686		587
Finance lease liabilities - net of current portion	78,248		0
Deferred tax liabilities	81,223		0
Other long-term liabilities	25,594		0
Total liabilities	389,536		118,793
Commitments and contingencies (Note 12)
Shareholders’ equity:
Preferred stock, $25 par value; 500,000 shares authorized, none issued	0		0
Common stock, $0.10 par value; 160,000,000 and 100,000,000 shares authorized, 119,482,680 and 69,562,774 shares issued, 107,852,857 and 58,623,451 shares outstanding, respectively	11,948		6,956
Additional paid-in capital	353,606		76,700
Accumulated other comprehensive income	1,179		0
Less treasury stock, 11,629,823 and 10,939,323 shares, respectively, at cost	(47,652)		(43,847)
Retained earnings	147,024		104,488
Total shareholders' equity	466,105		144,297
Total liabilities and shareholders' equity	$ 855,641		$ 263,090
[1]Includes assets acquired in the TransGlobe acquisition[2]Includes assets acquired in the Sasol acquisition

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Allowance for accounts with joint ventures	$ 0	$ 0
Allowance for value added tax and other receivables	$ 8,700	$ 5,700
Preferred stock, par value (in dollars per share)	$ 25	$ 25
Preferred stock, shares authorized (in shares)	500,000	500,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	160,000,000	100,000,000
Common stock, shares issued (in shares)	119,482,680	69,562,774
Common stock, shares outstanding (in shares)	107,852,857	58,623,451
Treasury stock, shares (in shares)	11,629,823	10,939,323

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues:
Crude oil, natural gas and natural gas liquids sales	$ 354,326	$ 199,075	$ 67,176
Operating costs and expenses:
Production expense	112,661	81,255	37,315
FPSO demobilization	8,867	0	0
Exploration expense	258	1,579	3,588
Depreciation, depletion and amortization	48,143	21,060	9,382
Impairment of proved crude oil and natural gas properties	0	0	30,625
General and administrative expense	10,077	14,766	10,695
Bad debt expense and other	3,082	875	1,165
Total operating costs and expenses	183,088	119,535	92,770
Other operating income (expense), net	38	(440)	(1,669)
Operating income (loss)	171,276	79,100	(27,263)
Other income (expense):
Derivative instruments gain (loss), net	(37,812)	(22,826)	6,577
Interest income (expense), net	(2,034)	10	155
Other income (expense), net	(8,048)	3,494	129
Total other income (expense), net	(47,894)	(19,322)	6,861
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	123,382	59,778	(20,402)
Income tax expense (benefit)	71,420	(22,156)	27,681
Income (loss) from continuing operations	51,962	81,934	(48,083)
Loss from discontinued operations, net of tax	(72)	(98)	(98)
Net income (loss)	51,890	81,836	(48,181)
Other comprehensive income (loss)
Currency translation adjustments	1,179	0	0
Comprehensive income (loss)	$ 53,069	$ 81,836	$ (48,181)
Basic net income (loss) per share:
Income (loss) from continuing operations (in dollars per share)	$ 0.74	$ 1.38	$ (0.83)
Loss from discontinued operations, net of tax (in dollars per share)	0	0	0
Net income (loss) per share (in dollars per share)	$ 0.74	$ 1.38	$ (0.83)
Basic weighted average shares outstanding (in shares)	69,568	58,230	57,594
Diluted net income (loss) per share:
Income (loss) from continuing operations (in dollars per share)	$ 0.73	$ 1.37	$ (0.83)
Loss from discontinued operations, net of tax (in dollars per share)	0	0	0
Net income (loss) per share (in dollars per share)	$ 0.73	$ 1.37	$ (0.83)
Diluted weighted average shares outstanding (in shares)	69,982	58,755	57,594

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2019	67,674,000	(9,649,000)
Balance at Dec. 31, 2019	$ 6,767	$ (41,429)	$ 73,549	$ 0	$ 70,833	$ 109,720
Shares issued - stock-based compensation (in shares)	223,000	(44,000)
Shares issued - stock-based compensation	$ 23	$ 0	40	0	0	63
Stock-based compensation expense	0	$ 0	848	0	0	848
Treasury stock (in shares)		(673)
Treasury stock	0	$ (992)	0	0	0	(992)
Net income (loss)	$ 0	$ 0	0	0	(48,181)	(48,181)
Balance (in shares) at Dec. 31, 2020	67,897,000	(10,366,000)
Balance at Dec. 31, 2020	$ 6,790	$ (42,421)	74,437	0	22,652	61,458
Shares issued - stock-based compensation (in shares)	1,665,000	(573,000)
Shares issued - stock-based compensation	$ 166	$ 0	1,203	0	0	1,369
Stock-based compensation expense	0	0	1,060	0	0	1,060
Treasury stock	0	(1,426)	0	0	0	(1,426)
Net income (loss)	$ 0	$ 0	0	0	81,836	81,836
Balance (in shares) at Dec. 31, 2021	69,562,000	(10,939,000)
Balance at Dec. 31, 2021	$ 6,956	$ (43,847)	76,700	0	104,488	144,297
Shares issued - stock-based compensation (in shares)	614
Shares issued - stock-based compensation	$ 61	0	251	0	0	312
Stock-based compensation expense	$ 0	$ 0	2,105	0	0	2,105
Treasury stock (in shares)	0	(691,000)
Treasury stock	$ 0	$ (3,805)	0	0	0	(3,805)
Net income (loss)	$ 0	0	0	0	51,890	51,890
Conversion of liability awards to equity			5,336			5,336
Acquisition of TransGlobe (in shares)	49,307,000
Acquisition of TransGlobe	$ 4,931	$ 0	269,214	0	0	274,145
Dividend Distributions					(9,354)	(9,354)
Other comprehensive income				1,179		1,179
Balance (in shares) at Dec. 31, 2022	119,483,000	(11,630,000)
Balance at Dec. 31, 2022	$ 11,948	$ (47,652)	$ 353,606	$ 1,179	$ 147,024	$ 466,105

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 51,890	$ 81,836	$ (48,181)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Loss from discontinued operations, net of tax	72	98	98
Depreciation, depletion and amortization	48,143	21,060	9,382
Bargain purchase gain	(10,819)	(7,651)	0
Impairment of proved crude oil and natural gas properties	0	0	30,625
Other amortization	0	0	181
Deferred taxes	44,805	(39,978)	24,159
Unrealized foreign exchange (gain) loss	(1,043)	(291)	91
Stock-based compensation	2,200	2,459	114
Cash settlements paid on exercised stock appreciation rights	(827)	(3,271)	(275)
Derivative instruments (gain) loss, net	37,812	22,826	(6,577)
Cash settlements received (paid) on matured derivative contracts, net	(42,935)	(18,020)	7,216
Cash settlements paid on asset retirement obligations	(6,577)	0	0
Bad debt expense and other	3,082	875	1,165
Other operating loss, net	(38)	440	869
Operational expenses associated with equipment and other	2,052	2,415	1,601
Change in operating assets and liabilities:
Trade receivables	18,385	(11,308)	14,335
Accounts with joint venture owners	(18,929)	1,594	4,016
Other receivables	(9,290)	(9,736)	1,405
Crude oil inventory	(1,742)	5,022	(2,834)
Prepayments and other	(4,387)	1,617	(1,126)
Value added tax and other receivables	(5,193)	(1,593)	(1,268)
Other long-term assets	(2,730)	(1,176)	0
Accounts payable	23,920	(922)	(842)
Foreign income taxes receivable/payable	(5,897)	2,268	(4,880)
Accrued liabilities and other	6,964	1,645	(1,383)
Net cash provided by continuing operating activities	128,918	50,209	27,891
Net cash used in discontinued operating activities	(72)	(92)	(441)
Net cash provided by operating activities	128,846	50,117	27,450
CASH FLOWS FROM INVESTING ACTIVITIES:
Property and equipment expenditures	(159,897)	(16,558)	(20,008)
Cash acquired from TransGlobe acquisition	36,686	0	0
Acquisition of crude oil and natural gas properties	0	(22,505)	(4,320)
Net cash used in continuing investing activities	(123,211)	(39,063)	(24,328)
Net cash used in discontinued investing activities	0	0	0
Net cash used in investing activities	(123,211)	(39,063)	(24,328)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from the issuances of common stock	312	1,369	63
Dividend distribution	(9,354)	0	0
Treasury shares	(3,805)	(1,426)	(992)
Deferred financing costs	(2,069)	0	0
Payments of finance lease	(3,039)	0	0
Net cash used in continuing financing activities	(17,955)	(57)	(929)
Net cash used in discontinued financing activities	0	0	0
Net cash used in financing activities	(17,955)	(57)	(929)
Effects of exchange rate changes on cash	(218)	0	0
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(12,538)	10,997	2,193
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD	72,314	61,317	59,124
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	59,776	72,314	61,317
Supplemental disclosure of cash flow information:
Income taxes received in cash	0	0	696
Income taxes paid in-kind with crude oil	26,257	20,103	8,738
Interest paid, net of amounts capitalized	1,656	0	0
Supplemental disclosure of non-cash investing and financing activities:
Property and equipment additions incurred but not paid at end of period	41,060	15,021	3,966
Recognition of right-of-use operating lease assets and liabilities	0	581	1,478
Recognition of right-of-use finance lease assets and liabilities	87,166	0	0
Reclassification of other long-term assets to right-of-use finance lease assets	4,116	0	0
Liability awards converted to equity	5,336	0	0
Asset retirement obligations	0	21,733	359
TransGlobe [Member]
Supplemental disclosure of non-cash investing and financing activities:
Non-cash consideration exchanged in the acquisition of TransGlobe	$ 274,145	$ 0	$ 0

Note 1 - Organization

Note 1 - Organization	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	1. VAALCO Energy, Inc. (together with its consolidated subsidiaries “we”, “us”, “our”, “VAALCO” or the “Company”) is a Houston, Texas-based independent energy company engaged in the acquisition, exploration, development and production of crude oil, natural gas and NGLs properties. As operator, the Company has production operations and conducts exploration activities in Gabon and Canada and hold interests in two 4 On October 13, 2022, July 13, 2022 ( 4 As of December 31, 2022 With respect to the novel strain of COVID- 19, 2021, 2022, second 2022 BA.5 19 19, 2020 19 not 19, no 19 not In July 2021, August 2021 September 2022. October 5, 2022, 2 November 2022 December 2023. not For the years ended December 31, 2022 2021, no 19 December 31, 2022 2021. December 31, 2020 December 31, 2021 December 31, 2022. During the year ended December 31, 2022, While the current commodity price environment is still favorable and the Company has not 19 may NYSE Noncompliance Notice On April 3, 2023, not 802.01E 10 December 31, 2022.

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. Principles of consolidation Use of estimates Estimates of crude oil, natural gas and NGLs reserves used to estimate depletion expense and impairment charges require extensive judgments and are generally less precise than other estimates made in connection with financial disclosures. Due to inherent uncertainties and the limited nature of data, estimates are imprecise and subject to change over time as additional information becomes available. Cash and cash equivalents three may not not Restricted cash and abandonment funding December 31, 2022 2021 December 31, 2022 2021 12. As of December 31, 2022 2021 (in thousands) Cash and cash equivalents $ 37,205 $ 48,675 Restricted cash - current 222 79 Restricted cash - non-current 1,763 1,752 Abandonment funding 20,586 21,808 Total cash, cash equivalents and restricted cash $ 59,776 $ 72,314 The Company conducts regular abandonment studies to update the estimated costs to abandon the offshore wells, platforms and facilities on the Etame Marin block. This cash funding is reflected under “Other noncurrent assets” as “Abandonment funding” on the consolidated balance sheets. Future changes to the anticipated abandonment cost estimate could change the asset retirement obligation and the amount of future abandonment funding payments. See Note 11 On February 28, 2019, one six not not 2019 2022 2018 January 12, 2023, 2019. Accounts with joint venture owners Accounts Receivable and Allowance for Doubtful Accounts 30 The Company routinely assesses the recoverability of all material receivables to determine their collectability. The Company accrues a reserve on a receivable when, based on management’s judgment, it is probable that a receivable will not may As of December 31, 2022 December 31, 2021, December 31, 2022 $1.00. December 31, 2021 $1.00. The following table provides an analysis of the change in the allowance: Year Ended December 31, 2022 2021 2020 (in thousands) Allowance for bad debt Balance at beginning of period $ (5,741 ) $ (2,273 ) $ (1,508 ) Bad debt charges, net of receipts (3,082 ) (875 ) (1,165 ) Adjustment associated with reversal of allowance on Mutamba receivable — — 593 Adjustment associated with Sasol Acquisition — (2,879 ) — Foreign currency gain (loss) 119 286 (193 ) Balance at end of period $ (8,704 ) $ (5,741 ) $ (2,273 ) Other receivables 2021, not two third December 31, 2022 September December 2022, September December 2022. On January 19, 2022, 15 5 February 1, 2020. December 31, 2022, Crude oil inventory December 31, 2022 December 31, 2021, not Prepayments and other December 31, 2022 Materials and supplies Crude oil, natural gas and NGLs properties, equipment and other Capitalized Equipment Inventory Capitalization no may Depreciation, depletion and amortization five five seven Impairment may not may 3 may 9 Purchase Accounting October 13, 2022, July 13, 2022. 4 On February 25, 2021, November 17, 2020 4 Lease commitments 842, Asset retirement obligations ( ARO ) A liability for ARO is recognized in the period in which the legal obligations are incurred if a reasonable estimate of fair value can be made. The ARO liability reflects the estimated present value of the amount of dismantlement, removal, site reclamation, and similar activities associated with crude oil, natural gas and NGLs properties. The Company uses current retirement costs to estimate the expected cash outflows for retirement obligations. Inherent in the present value calculation are numerous assumptions and judgments including the ultimate settlement amounts, inflation factors, credit-adjusted discount rates, timing of settlement, and changes in the legal, regulatory, environmental, and political environments. Initial recording of the ARO liability is offset by the corresponding capitalization of asset retirement cost recorded to crude oil, natural gas and NGLs properties. To the extent these or other assumptions change after initial recognition of the liability, the fair value estimate is revised and the recognized liability adjusted, with a corresponding adjustment made to the related asset balance or income statement, as appropriate. Depreciation of capitalized asset retirement costs and accretion of asset retirement obligations are recorded over time. Depreciation is generally determined on a units-of-production basis for crude oil, natural gas and NGLs production facilities, while accretion escalates over the lives of the assets to reach the expected settlement value. Where there is a downward revision to the ARO that exceeds the net book value of the related asset, the corresponding adjustment is limited to the amount of the net book value of the asset and the remaining amount is recognized as a gain. See Note 11 Revenue recognition Revenues from contracts with customers are recognized when the Company satisfies a performance obligation by transferring a good or service to a customer. A good or service is transferred when the customer obtains control of the good or service. The transfer of control of oil, natural gas and NGLs usually coincides with title passing to the customer and the customer taking physical possession. VAALCO mainly satisfies its performance obligations at a point in time and the amounts of revenues recognized relating to performance obligations satisfied over time are not 7 In connection with the acquisition of TransGlobe on October 13, 2022, Major maintenance activities Stock-based compensation Black-Scholes and Monte Carlo models employ assumptions, based on management’s best estimates at the time of grant, which impact the calculation of fair value and ultimately, the amount of expense that is recognized over the life of the stock options or SAR award. These models use the following inputs: (i) the quoted market price of the Company’s common stock on the valuation date, (ii) the maximum stock price appreciation that an employee may For restricted stock awards, the grant date fair value is determined using the market value of the common stock on the date of grant. The stock-based compensation expense for equity awards is recognized over the requisite or derived service period, using the straight-line attribution method over the service period for each separately vesting portion of the award as if the award was, in-substance, multiple awards. For awards considered liabilities under US GAAP, awards are measured at fair value on the grant date and remeasured at fair value until the award is settled. Unless the awards contain a market condition, previously recognized expense related to forfeited awards is reversed in the period in which the forfeiture occurs. For awards containing a market condition, previously recognized stock-based compensation expense is not 17 Foreign currency transactions not 2022, 2021 2020. Income taxes may Judgment is required in determining whether deferred tax assets will be realized in full or in part. Management assesses the available positive and negative evidence to estimate if existing deferred tax assets will be utilized, and when it is estimated to be more-likely-than- not not not In certain jurisdictions, the Company may not not may 8 Derivative instruments and hedging activities may The Company records balances resulting from commodity risk management activities in the consolidated balance sheets as either assets or liabilities measured at fair value. The Company has elected not 10 Fair value three Level 1 Level 2 1 not Level 3 not Nonrecurring Fair Value Measurements 3 Fair value of financial instruments 10, 2 1 may may 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 As of December 31, 2021 Balance Sheet Line Level 1 Level 2 Level 3 Total (in thousands) Liabilities SARs liability Accrued liabilities and other $ — $ 609 $ — $ 609 Derivative liability Accrued liabilities and other — 4,806 — 4,806 $ — $ 5,415 $ — $ 5,415 Earnings per Share 6 Other, net Other comprehensive income • Income and expenses are translated at the date of the transaction • Assets and liabilities are translated at the prevailing rate on the balance sheet date. On the date of acquisition, October 13, 2022, December 31, 2022, .0.738

Note 3 - New Accounting Standar

Note 3 - New Accounting Standards	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	3. Adopted In June 2016, No. 2016 13, Financial Instruments Credit Losses (Topic 326 2016 13” not 2016 13 December 15, 2019, December 15, 2022, As of January 1, 2023, not Not In March 2020, 2020 04, 848 2020 04 December 31, 2022. In December 2022, 2022 06, 848 848, 848 December 31, 2024.

Note 4 - Acquisitions and Dispo

Note 4 - Acquisitions and Dispositions	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Mergers, Acquisitions and Dispositions Disclosures [Text Block]	4. Acquisition of TransGlobe Energy Corporation On October 13, 2022, July 13, 2022. At the effective time of the Arrangement and pursuant to the Arrangement Agreement, each common share of TransGlobe issued and outstanding immediately prior to the effective time of the Arrangement (the “TransGlobe common shares”) was converted into the right to receive 0.6727 (the “exchange ratio”) of a share of VAALCO common stock, par value $0.10 per share. The total number of VAALCO shares issued to TransGlobe’s shareholders was approximately 49.3 million. The Arrangement resulted in VAALCO stockholders owning approximately 54.5%, and TransGlobe shareholders owning approximately 45.5% of the Combined Company, calculated based on vested outstanding shares of each company as of the date of the Arrangement Agreement. The Combined Company results of operations of VAALCO and TransGlobe for the period of October 14, 2022 December 31, 2022 December 31, 2022. Prior to the Arrangement, TransGlobe was a cash flow-focused oil and gas exploration and development company whose activities were concentrated in Egypt and Canada. The Combined Company is an African-focused operator with a portfolio of assets in Gabon, Egypt, Equatorial Guinea and Canada. The transaction qualifies as a business combination under ASC 805, Business Combinations The actual impact of the Arrangement was an increase to “Crude oil, natural gas and NGLs sales” of $47.6 million and $10.0 million of “ December 31, 2022 October 13, 2022 (in thousands) Purchase Consideration Common stock issued to TransGlobe shareholders $ 274,145 October 13, 2022 (in thousands) Assets acquired: Cash $ 36,686 Wells, platforms and other production facilities 243,669 Equipment and other 2,099 Undeveloped acreage 30,216 Accounts receivable - trade 48,068 Accounts receivable - other 50,275 Accounts with joint venture owners 68 Right of use operating leases 1,609 Right of use financing leases 204 Prepayment and other 7,627 Liabilities assumed: Asset retirement obligations (6,134 ) Accounts payable (10,223 ) Accrued liabilities and other (50,128 ) Operating lease liabilities - current portion (961 ) Financing lease liabilities - current portion (125 ) Operating lease liabilities - net of current portion (688 ) Financing lease liabilities - net of current portion (21 ) Deferred tax liabilities (40,964 ) Other long-term liabilities (26,313 ) Bargain purchase gain (10,819 ) Total purchase price $ 274,145 All assets and liabilities associated with TransGlobe, including crude oil, natural gas and NGLs properties, asset retirement obligations and working capital items, were recorded at their fair value. The Company used estimated future crude oil prices as of the closing date, October 13, 2022, July 13, 2022 October 13, 2022 For the twelve December 31, 2022, In connection with the Arrangement with TransGlobe and pursuant to the Arrangement Agreement, at the effective time of the Arrangement, certain awards previously issued to TransGlobe’s key employees and board members who continued their relationship as employees or board members of VAALCO following the Arrangement, continue to be governed by the applicable TransGlobe plan, provided that each such applicable plan has been amended to provide that VAALCO common stock shall be issuable in lieu of TransGlobe common stock with respect to TransGlobe’s deferred share units (“DSU”s), performance share units (“PSU”s) and restricted stock units (“RSU”s), in each case, based on the exchange ratio in the Arrangement. For the PSUs that remained outstanding following the effective time of the Arrangement as described in the immediately preceding sentence, the applicable vesting percentage was determined by the TransGlobe board of directors to be 200% for PSUs granted in 2020 2021; 2022. On the effective date of the Arrangement, October 13, 2022, December 16, 2022, 17, Acquisition of Sasol Gabon S.A. s Interest in Etame On February 25, 2021, July 1, 2020. 31.1% 58.8%. February 25, 2021. The following amounts represent the allocation of the purchase price to the assets acquired and liabilities assumed in the Sasol Acquisition: February 25, 2021 (in thousands) Purchase Consideration Cash $ 33,959 Fair value of contingent consideration 4,647 Total purchase consideration $ 38,606 February 25, 2021 (in thousands) Assets acquired: Wells, platforms and other production facilities $ 37,176 Equipment and other 5,568 Value added tax and other receivables 1,234 Abandonment funding 11,781 Accounts receivable - trade 11,220 Other current assets 3,963 Liabilities assumed: Asset retirement obligations (14,564 ) Accrued liabilities and other (10,121 ) Bargain purchase gain (7,651 ) Total purchase price $ 38,606 All assets and liabilities associated with Sasol’s interest in Etame Marin block, including crude oil, natural gas and NGLs properties, asset retirement obligations and working capital items, were recorded at their fair value. The Company used estimated future crude oil prices as of the closing date, February 25, 2021, November 17, 2020, February 25, 2021, Under the terms of the SPA, a contingent payment of $5.0 million was payable to Sasol should the average Dated Brent price over a consecutive 90-day period from July 1, 2020 June 30, 2022 April 29, 2021, For the twelve December 31, 2021, The impact of the Sasol Acquisition was an increase to “Crude oil, natural gas and NGLs sales” of $144.8 million and $14.6 million of “Net income” in the consolidated statements of operations and comprehensive income (loss) for the year ended December 31, 2022. December 31, 2021. The unaudited pro forma results presented below have been prepared to give the effect to the Sasol Acquisition discussed above on the Company’s results of operations for the years ended December 31, 2022 2021 January 1, 2020. December 31, 2022 2021, January 1, 2021. not Year Ended December 31, 2022 2021 (in thousands) Pro forma (unaudited) Crude oil and natural gas sales $ 547,670 (a) $ 367,210 (a) Operating income $ 267,582 (b) $ 104,924 (c) Net income $ 130,425 (d) $ 54,534 (e,f) Basic net income per share: Income from continuing operations $ 1.21 $ 0.51 Loss from discontinued operations, net of tax - - Net income per share $ 1.21 $ 0.51 Basic weighted average shares outstanding 108,206 107,537 Diluted net income per share: Income from continuing operations $ 1.20 $ 0.50 Loss from discontinued operations, net of tax - - Net income per share $ 1.20 $ 0.50 Diluted weighted average shares outstanding 108,642 108,062 (a) The unaudited pro forma net revenues associated with Crude oil, natural gas and natural gas liquids sales have been adjusted for shipping and handling costs based on the Company’s historical policy and revenue recognition is based on the Company’s working interest, less royalties, the entitlement method. (b) The unaudited pro forma operating income for the year ended December 31, 2022 2022, (c) The unaudited pro forma operating income for the year ended December 31, 2021 2021, (d) The unaudited pro forma net income for the year ended December 31, 2022 (e) The unaudited pro forma net income for the year ended December 31, 2021 (f) The unaudited pro forma net income for the year ended December 31, 2021 Discontinued Operations - Angola and Yemen In November 2006, 5 5 September 30, 2016, October 31, 2016. November 30, 2016, 5 December 31, 2022 2021 not As part of the Arrangement with TransGlobe, the Company acquired TG Holdings Yemen Inc. who previously owned TransGlobe's interests in four 32, 72, 75 1. January 2015, 32 72 March 31, 2015 February 28, 2015, October 2015 75 1. December 31, 2022, not

Note 5 - Segment Information

Note 5 - Segment Information	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	5. The Company’s operations are based in Gabon, Egypt, Canada and Equatorial Guinea. Each of the reportable operating segments are organized and managed based upon geographic location. The Company’s Chief Executive Officer, who is the chief operating decision maker evaluates the operation of each geographic segment separately primarily based on Operating income (loss). The operations of all segments include exploration for and production of hydrocarbons where commercial reserves have been found and developed. Revenues are based on the location of hydrocarbon production. Corporate and other is primarily corporate and operations support costs that are not No Segment activity of continuing operations for the years ended December 31, 2022, 2021 2020 December 31, 2022 2021 Year ended December 31, 2022 (in thousands) Gabon Egypt Canada Equatorial Guinea Corporate and Other Total Revenues: Crude oil, natural gas and natural gas liquids sales $ 306,775 $ 37,710 $ 9,841 $ — $ — $ 354,326 Operating costs and expenses: Production expense 96,854 11,936 1,972 1,899 — 112,661 FPSO demobilization 8,867 — — — — 8,867 Exploration expense 258 — — — — 258 Depreciation, depletion and amortization 34,651 10,444 2,921 — 127 48,143 General and administrative expense 3,101 — — 538 6,438 10,077 Bad debt expense and other 2,743 — — 339 — 3,082 Total operating costs and expenses 146,474 22,380 4,893 2,776 6,565 183,088 Other operating income, net 38 — — — — 38 Operating income (loss) 160,339 15,330 4,948 (2,776 ) (6,565 ) 171,276 Other income (expense): Derivative instruments gain (loss), net — — 13 — (37,825 ) (37,812 ) Interest (expense) income, net (1,446 ) (596 ) — — 8 (2,034 ) Other expense, net (1,484 ) — — — (6,564 ) (8,048 ) Total other Income (expense), net (2,930 ) (596 ) 13 — (44,381 ) (47,894 ) Income (loss) from continuing operations before income taxes 157,409 14,734 4,961 (2,776 ) (50,946 ) 123,382 Income tax (benefit) expense 68,509 6,254 — 1 (3,344 ) 71,420 Income (loss) from continuing operations 88,900 8,480 4,961 (2,777 ) (47,602 ) 51,962 Loss from discontinued operations, net of tax — — — — (72 ) (72 ) Net income (loss) $ 88,900 $ 8,480 $ 4,961 $ (2,777 ) $ (47,674 ) $ 51,890 Consolidated capital expenditures (1) $ 162,375 $ 168,012 $ 103,263 $ — $ 710 $ 434,360 ( 1 Year Ended December 31, 2021 (in thousands) Gabon Equatorial Guinea Corporate and Other Total Revenues: Crude oil and natural gas sales $ 199,075 $ — $ — $ 199,075 Operating costs and expenses: Production expense 80,717 532 6 81,255 Exploration expense 1,579 — — 1,579 Depreciation, depletion and amortization 20,972 — 88 21,060 General and administrative expense 1,301 321 13,144 14,766 Bad debt expense and other 875 - — 875 Total operating costs and expenses 105,444 853 13,238 119,535 Other operating expense, net (440 ) — — (440 ) Operating income 93,191 (853 ) (13,238 ) 79,100 Other income (expense): Derivative instruments loss, net — — (22,826 ) (22,826 ) Interest income, net — — 10 10 Other (expense) income, net 6,925 (3 ) (3,428 ) 3,494 Total other income (expense), net 6,925 (3 ) (26,244 ) (19,322 ) Income (loss) from continuing operations before income taxes 100,116 (856 ) (39,482 ) 59,778 Income tax (benefit) expense 12,392 1 (34,549 ) (22,156 ) Income (loss) from continuing operations 87,724 (857 ) (4,933 ) 81,934 Loss from discontinued operations, net of tax — — (98 ) (98 ) Net income (loss) $ 87,724 $ (857 ) $ (5,031 ) $ 81,836 Consolidated capital expenditures (1) $ 79,169 $ — $ 52 $ 79,221 ( 1 Year Ended December 31, 2020 (in thousands) Gabon Equatorial Guinea Corporate and Other Total Revenues: Crude oil and natural gas sales $ 67,176 $ — $ — $ 67,176 Operating costs and expenses: Production expense 37,298 1 16 37,315 Exploration expense 3,588 — — 3,588 Depreciation, depletion and amortization 9,028 — 354 9,382 Impairment of proved crude oil and natural gas properties 30,625 — — 30,625 General and administrative expense 1,064 430 9,201 10,695 Bad debt expense and other 1,165 — — 1,165 Total operating costs and expenses 82,768 431 9,571 92,770 Other operating expense, net (1,669 ) — — (1,669 ) Operating loss (17,261 ) (431 ) (9,571 ) (27,263 ) Other income (expense): Derivative instruments gain, net — — 6,577 6,577 Interest income, net — — 155 155 Other (expense) income, net 194 3 (68 ) 129 Total other expense, net 194 3 6,664 6,861 Loss from continuing operations before income taxes (17,067 ) (428 ) (2,907 ) (20,402 ) Income tax expense 16,204 1 11,476 27,681 Loss from continuing operations (33,271 ) (429 ) (14,383 ) (48,083 ) Loss from discontinued operations, net of tax — — (98 ) (98 ) Net loss $ (33,271 ) $ (429 ) $ (14,481 ) $ (48,181 ) Consolidated capital expenditures $ 10,503 $ — $ (9 ) $ 10,494 (in thousands) Gabon Egypt Canada Equatorial Guinea Corporate and Other Total Long-lived assets from continuing operations: As of December 31, 2022 (1) $ 213,204 $ 168,012 $ 103,263 $ 10,000 $ 793 $ 495,272 As of December 31, 2021 (2) 84,156 $ — $ — $ 10,000 $ 168 $ 94,324 ( 1 ( 2 (in thousands) Gabon Egypt Canada Equatorial Guinea Corporate and Other Total Total assets from continuing operations: As of December 31, 2022 (1) $ 395,393 $ 293,640 $ 110,071 $ 10,861 $ 45,676 $ 855,641 As of December 31, 2021 (2) 201,748 $ — $ — $ 10,548 $ 50,794 $ 263,090 ( 1 ( 2 Information about the Company s most significant customers The Company currently sells crude oil production from Gabon under term crude oil sales and purchase agreements (“COSPAs”) or crude oil sales and marketing agreements ("COSMA or COSMAs") with pricing based upon an average of Dated Brent in the month of lifting, adjusted for location and market factors. As discussed further in Note 13, May 16, 2022, G4 160 August 1, 2022 May 15, 2027 From February 2019 January 2020, February 2020 July 2022 For the year ended December 31, 2022, October 14, 2022 December 31, 2022, October 14, 2022 December 31, 2022, three

Note 6 - Earnings Per Share

Note 6 - Earnings Per Share	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Earnings Per Share [Text Block]	6. Basic earnings per share (“EPS”) is calculated using the average number of shares of common stock outstanding during each period. For the calculation of diluted shares, the Company assumes that restricted stock is outstanding on the date of vesting, and the Company assumes the issuance of shares from the exercise of stock options using the treasury stock method. A reconciliation of reported net income (loss) to net income (loss) used in calculating EPS as well as a reconciliation from basic to diluted shares follows: Year Ended December 31, 2022 2021 2020 (in thousands) Net income (loss) (numerator): Income (loss) from continuing operations $ 51,962 $ 81,934 $ (48,083 ) Income from continuing operations attributable to unvested shares (594 ) (1,336 ) — Numerator for basic 51,368 80,598 (48,083 ) Loss from continuing operations attributable to unvested shares 3 — — Numerator for dilutive $ 51,371 $ 80,598 $ (48,083 ) Loss from discontinued operations, net of tax $ (72 ) $ (98 ) $ (98 ) Loss from discontinued operations attributable to unvested shares 1 2 — Numerator for basic (71 ) (96 ) (98 ) (Income) loss from discontinued operations attributable to unvested shares — — — Numerator for dilutive $ (71 ) $ (96 ) $ (98 ) Net income (loss) $ 51,890 $ 81,836 $ (48,181 ) Net income attributable to unvested shares (593 ) (1,334 ) — Numerator for basic 51,297 80,502 (48,181 ) Net (income) loss attributable to unvested shares 3 — — Numerator for dilutive $ 51,300 $ 80,502 $ (48,181 ) Weighted average shares (denominator): Basic weighted average shares outstanding 69,568 58,230 57,594 Effect of dilutive securities 414 525 — Diluted weighted average shares outstanding 69,982 58,755 57,594 Stock options and unvested restricted stock grants excluded from dilutive calculation because they would be anti-dilutive 189 169 3,545

Note 7 - Revenue

Note 7 - Revenue	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	7. Gabon Revenues from contracts with customers are generated from sales in Gabon pursuant to crude oil sales and purchase agreements (“COSPAs”) or crude oil sales and marketing agreements ("COSMA or COSMAs"). COSPAs and COSMAs with customers are renegotiated near the end of the contract term and may no 5 Information about the Company s most significant customers Customer sales generally occur on a monthly basis when the customer’s tanker arrives at the FPSO or FSO and the crude oil is delivered to the tanker through a connection. There is a single performance obligation (delivering crude oil to the delivery point, i.e. the connection to the customer’s crude oil tanker) that gives rise to revenue recognition at the point in time when the performance obligation event takes place. This is referred to as a “lifting”. Liftings can take one two one no 606 10 50 14 not The Company accounts for sales based on the Company’s working interest, less royalties. Imbalances are valued based on the actual sales proceeds. Historically as operator, the volumes sold may For each lifting completed under a COSPA or COSMA, payment is made by the customer in U.S. dollars by electronic transfer 30 Generally, no In addition to revenues from customer contracts, the Company has other revenues related to contractual provisions under the Etame Marin block PSC. The Etame PSC is not not 606. June 20, 2026 may To date, the government of Gabon has not no With respect to the government’s share of Profit Oil, the Etame PSC provides that corporate income tax is satisfied through the payment of Profit Oil. In the consolidated statements of operations and comprehensive income (loss), the government’s share of revenues from Profit Oil is reported in revenues with a corresponding amount reflected in the current provision for income tax expense. Prior to February 1, 2018, not February 1, 2018, not not i.e. December 2022 December 31, 2022 December 31, 2021 Certain amounts associated with the carried interest in the Etame Marin block discussed above are reported as revenues. In this carried interest arrangement, the carrying parties, which include the Company and other working interest owners, are obligated to fund all of the working interest costs that would otherwise be the obligation of the carried party. The carrying parties recoup these funds from the carried interest party’s revenues. The following table presents revenues in Gabon from contracts with customers as well as revenues associated with the obligations under the ‎Etame PSC: Year Ended December 31, 2022 2021 2020 Revenues from customer contracts: (in thousands) Sales under the COSPA or COSMA $ 320,522 $ 200,321 $ 67,041 Other items reported in revenue not associated with customer contracts: Gabonese government share of Profit Oil taken in-kind 26,257 20,103 8,738 Carried interest recoupment 5,843 7,517 1,631 Royalties (45,847 ) (28,866 ) (10,234 ) Crude oil and natural gas sales $ 306,775 $ 199,075 $ 67,176 Egypt Revenues from sales in Egypt are generally made through direct sales to EGPC or through contracts with customers pursuant to crude oil sales and purchase agreements (“COSPAs”) or crude oil sales and marketing agreements ("COSMA or COSMAs"). EGPC and the Company’s subsidiary, TransGlobe Petroleum International (“TPI”), each own a 50% interest, respectively, in the operating company which is a party to the Merged Concession Agreement. EGPC and the Company’s subsidiary, TPI, each also own a 50% interest, respectively, in the operating company that is a party to the South Ghazalat concession agreement. The Company has utilized the practical expedient in ASC Topic 606 10 50 14 not Customer sales generally occur on a daily basis when sales are directly to EGPC or haphazardly production is sold through a cargo lifting. Direct sales to EGPC are considered complete when oil is delivered to EGPC storage facility. When sales are made through cargo lifting, the performance obligations are normally satisfied either when the oil is delivered to the export facility location or when the oil is delivered to its ultimate destination, as specified in the contract. Regardless of the type of sales, there is a single performance obligation (delivering crude oil to the delivery point) that gives rise to revenue recognition at the point in time when the performance obligation event takes place. Sales and delivery costs associated with certain sales are netted against revenue in accordance with the Company’s policy regarding classification of these type of expenses. Revenues associated with the sales of the Company’s crude oil in Egypt are recognized by reference to actual volumes sold and quoted market prices in active markets for Dated Brent, adjusted according to specific terms and conditions as applicable per the sales contracts. Revenue is measured at the fair value of the consideration received or receivable. For reporting purposes, the Company records EGPC’s share of production as royalties which are netted against revenue, whether EGPC’s share of production arises from EGPC’s share of profit oil or excess cost oil which is discussed below. Egypt production is based on Dated Brent prices, less a quality differential and is shared with the Egyptian government through PSCs. When the price of oil increases, it takes fewer barrels to recover costs (cost oil or cost recovery barrels) which are assigned 100% to the Company. The PSCs provide for cost recovery per quarter up to a maximum percentage of total production. Timing differences often exist between the Company's recognition of costs and their recovery as the Company accounts for costs on an accrual basis, whereas cost recovery is determined on a cash basis. If the eligible cost recovery is less than the maximum defined cost recovery, the difference is defined as "excess". In Egypt, depending on the PSCs, the Company's share of excess ranges between 5% and 15%. If the eligible cost recovery exceeds the maximum allowed percentage, the unclaimed cost recovery is carried forward to the next quarter. Typically maximum cost oil ranges from 25% to 40% in Egypt. The balance of the production after maximum cost recovery is shared with the government (profit oil). Depending on the contract, the Egyptian government receives 67% to 84% of the profit oil. Production sharing splits are set in each contract for the life of the contract. Typically the government’s share of profit oil increases when production exceeds pre-set production levels in the respective contracts. During times of high oil prices, the Company may may may may not With respect to Egyptian income taxes, which are the Company’s liability under the terms of the Merged Concession Agreement, these taxes are paid by EGPC on behalf of the Company out of EGPC’s share of production entitlement. The income taxes paid to the Arab Republic of Egypt on behalf of the Company are recognized as crude oil revenue and income tax expense for reporting purposes. EGPC owns the storage and export facilities where the Company's production is delivered and the Company requires EGPC cooperation and approval to schedule liftings. Once liftings occur, the Company has a 30 may two four In some instances TPI will borrow or loan production volumes in order to achieve a required amount of crude oil for cargo sales. In these instances TPI can be in an overlift or underlift position. Regardless of being in an over lift or underlift position, sales are based on the Company’s working interest, less royalties. Imbalances are valued based on the actual sales proceeds and TPI will record a payable, if in an overlift position, or a receivable, if in an underlift position, based on the fair value of the consideration received or receivable. The following table presents revenues in Egypt from contracts with customers: October 14 - December 31, 2022 Sales Revenues from customer contracts: (in thousands) Gross sales $ 56,452 Royalties (18,742 ) Net revenues $ 37,710 Canada Revenues from the sale of crude oil, natural gas, condensate and natural gas liquids ("NGLs") in Canada are recognized by reference to actual volumes delivered at contracted delivery points and prices. The Company has utilized the practical expedient in ASC Topic 606 10 50 14 not Customer sales generally occur on a daily basis when crude oil, natural gas, condensate or NGL’s are sold, normally via pipeline, to a delivery point. Regardless of the type of sales, there is a single performance obligation (delivering crude oil, natural gas, condensate or NGL’s to the delivery point) that gives rise to revenue recognition at the point in time when the performance obligation event takes place. Sales and delivery costs associated with certain sales are netted against revenue in accordance with the Company’s policy regarding classification of these type of expenses. Settlement of accounts receivable in Canada occur on the 25th The following table presents revenues in Canada from contracts with customers: October 14 - December 31, 2022 Sales Revenues from customer contracts: (in thousands) Oil revenue $ 7,362 Gas revenue 1,340 NGL revenue 2,235 Condensate revenue 7 Other revenue 34 Royalties (1,137 ) Net revenues $ 9,841

Note 8 - Income Taxes

Note 8 - Income Taxes	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Income Tax Disclosure [Text Block]	8. VAALCO and its domestic subsidiaries file a consolidated U.S. income tax return. Certain foreign subsidiaries also file tax returns in their respective local jurisdictions that include Canada, Egypt, Equatorial Guinea and Gabon. Income taxes attributable to continuing operations for the year ended December 31, 2022 December 31, 2021 2020 Provision for income taxes related to income (loss) from continuing operations consists of the following: Year Ended December 31, 2022 2021 2020 (in thousands) U.S. Federal: Current $ — $ — $ (337 ) Deferred (3,344 ) (34,548 ) 11,814 Foreign: Current 26,615 20,282 3,859 Deferred 48,149 (7,890 ) 12,345 Total $ 71,420 $ (22,156 ) $ 27,681 As of December 31, 2022 December 31, 2021 not As of December 31, 2022, not not not December 31, 2021, not not December 31, 2022 2021, not The primary differences between the financial statement and tax bases of assets and liabilities resulted in deferred tax assets associated with continuing operations at December 31, 2022 2021 As of December 31, (in thousands) 2022 2021 Deferred tax assets: Basis difference in fixed assets $ 9,299 $ 20,133 Foreign tax credit carryforward 14,848 20,084 Net operating losses 48,981 25,182 Foreign deferred tax assets, net of impact on U.S. taxes — 8,693 Asset retirement obligations 8,531 8,546 Operating lease liabilities 10,753 1,750 Basis difference in accrued liabilities 3,800 402 Basis difference in receivables 2,783 454 Other 622 1,683 Total deferred tax assets 99,617 86,927 Valuation allowance (47,583 ) (46,949 ) Net deferred tax assets $ 52,034 $ 39,978 Deferred tax liabilities: Basis difference in fixed assets (97,825 ) — Net deferred tax liabilities $ (97,825 ) $ — Foreign net operating losses (“NOLs”) are subject to varying expiration periods depending on the jurisdiction. The NOLs for the Gabon subsidiaries are included in the respective subsidiaries’ cost oil accounts, which will be offset against future taxable revenues and do not 2017 not 382 2024 2032. not The Company has NOL’s, (in '000s December 31, 2022: Jurisdiction Amount Expiration Period U.S. $ 45,498 No expiration Gabon $ 37,983 No expiration Egypt $ 14,558 2023 2027 Canada $ 130,542 2024 2042 The Company recognizes the financial statement benefit of a tax position only after determining that they are more likely than not December 31, 2022 2021 Income (loss) from continuing operations before income taxes is attributable as follows: Year Ended December 31, (in thousands) 2022 2021 2020 U.S. $ (56,750 ) $ (38,867 ) $ (2,908 ) Foreign 180,132 98,645 (17,494 ) $ 123,382 $ 59,778 $ (20,402 ) The reconciliation of income tax expense (benefit) attributable to income (loss) from continuing operations to income tax on income (loss) from continuing operations at the U.S. statutory rate is as follows: Year Ended December 31, (in thousands) 2022 2021 2020 Tax provision computed at U.S. statutory rate $ 25,910 $ 12,553 $ (4,284 ) Foreign taxes not offset in U.S. by foreign tax credits 53,851 35,306 (9,801 ) Permanent differences 778 (703 ) 97 Foreign tax credit expirations 17,247 14,060 — Increase/(decrease) in valuation allowance (25,623 ) (83,372 ) 41,635 Other (743 ) — 34 Total income tax expense (benefit) $ 71,420 $ (22,156 ) $ 27,681 For the years ended December 31, 2022, 2021 2020 no Jurisdiction Years U.S. 2014-2022 Gabon 2018-2022 Egypt 2017-2022 Canada 2018-2022 With respect to the earnings of VAALCO's Canadian foreign subsidiary, the Company does not not With respect to the earnings of VAALCO's Egyptian foreign subsidiaries, the earnings are available for repatriation, but the corresponding incremental tax expense on any remittances is not On August 16, 2022, 1% December 31, 2022) not 2022,

Note 9 - Crude Oil and Natural

Note 9 - Crude Oil and Natural Gas Properties and Equipment	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Oil and Gas Properties [Text Block]	9. The Company’s crude oil, natural gas and NGLs properties and equipment is comprised of the following: As of December 31, 2022 As of December 31, 2021 (in thousands) Crude oil and natural gas properties and equipment - successful efforts method: Wells, platforms and other production facilities $ 1,406,888 $ 488,756 Work-in-progress — 13,515 Undeveloped acreage 56,251 23,735 Equipment and other 38,796 23,478 1,501,935 549,484 Accumulated depreciation, depletion, amortization and impairment (1,006,663 ) (455,160 ) Net crude oil and natural gas properties, equipment and other $ 495,272 $ 94,324 Extension of Term of Etame Marin Block PSC On September 25, 2018, The PSC Extension extends the term for each of the three exploitation areas in the Etame Marin block for a period of ten September 17, 2018, June 2021. two five In consideration for the PSC Extension, the Etame Consortium agreed to a signing bonus of $65.0 million ($21.8 million, net to VAALCO) payable to the government of Gabon (the “signing bonus”). The Etame Consortium paid $35.0 million ($11.8 million, net to VAALCO) in cash on September 26, 2018 As required under the PSC Extension, the Etame Consortium completed drilling two development wells and two appraisal wellbores during the 2019/2020 February 2020. September 2020, In accordance with the Etame Marin block PSC, the Etame Consortium maintains a “Cost Account,” which accumulates capital costs and operating expenses that are deductible against revenues, net of royalties, in determining taxable profits. Under the PSC Extension, the Cost Recovery Percentage increased to 80% for the ten September 17, 2018 September 16, 2028. September 16, 2028, June 20, 2026. Proved Properties The Company reviews the crude oil, natural gas and NGLs producing properties for impairment quarterly or whenever events or changes in circumstances indicate that the carrying amount of such properties may not not 3 There was no December 31, 2022 fourth 2022 Declining forecasted oil prices in the first 2020 2019 4H March 2020 932 360, Undeveloped Leasehold Costs VAALCO acquired a 31% working interest in an undeveloped portion of a block (“Block P”) offshore Equatorial Guinea in 2012. November 12, 2019. 2020, August 27, 2020, April 2021, April 12, 2021, fourth December 31, 2022 September 26, 2022, 2023 October 12, 2022 November 16, 2022. December 31, 2022, $10.0 In February 2023, March 2023, 5 March 2023 14.1% first As a result of the PSC Extension discussed above, the exploitation area for the Etame Marin block was expanded to include previously undeveloped acreage. The Company allocated $6.7 million of the share of the signing bonus and $7.1 million of the $18.6 million resulting from the deferred tax impact for the difference between book basis and tax basis to unproved leasehold costs using the acreage attributable to the previous exploitation areas and the additional acreage in the expanded exploitation areas. Exploitation of this additional area is permitted throughout the term of the Etame Marin block PSC. As a result of discovering reserves in connection with drilling the South East Etame 4H March 2020, 4, December 31, 2021 In connection with the TransGlobe acquisition discussed under Note 4, Capitalized Equipment Inventory Capitalized equipment inventory is reviewed regularly for obsolescence. Adjustments for inventory obsolescence are recorded in the “Other operating income (expense), net” line item of the consolidated statements of operations and comprehensive income (loss). During the years ended December 31, 2022, 2021 2020, not

Note 10 - Derivatives and Fair

Note 10 - Derivatives and Fair Value	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Derivatives and Fair Value [Text Block]	10. The Company uses derivative financial instruments from time to time to achieve a more predictable cash flow from crude oil production by reducing the exposure to price fluctuations. See Note 2 Commodity swaps On January 22, 2021, February 2021 January 2022 May 6, 2021, May 2021 October 2021 August 6, 2021, November 2021 February 2022 September 24, 2021, March 2022 June 2022 December 31, 2022 On October 26, 2022, first 2023. Settlement Period Type of Contract Index Average Monthly Volumes Weighted Average Put Price Weighted Average Call Price (Bbls) (per Bbl) (per Bbl) January 2023 to March 2023 Collars Dated Brent 101,000 $ 65.00 $ 120.00 While these derivative instruments are intended to be an economic hedge to mitigate the impact of a decline in crude oil prices, the Company has not not May 2022, The derivative instruments are measured at fair value using the Income Method. Level 2 To mitigate counterparty risk, the Company enters into such derivative contracts with creditworthy financial institutions deemed by management as competent and competitive market makers. At times, the Company’s counterparties require that it post collateral for changes in the net fair value of the derivative contracts. This cash collateral is reported in the line item "Restricted cash" on the condensed consolidated balance sheets. The following table sets forth the gain (loss) on derivative instruments on the Company’s consolidated statements of operations and comprehensive income (loss): Year Ended December 31, Derivative Item Statement of Operations Line 2022 2021 2020 (in thousands) Commodity derivatives Cash settlements paid on matured derivative contracts, net $ (42,935 ) $ (18,020 ) $ 7,216 Unrealized gain (loss) 5,123 (4,806 ) (639 ) Derivative instruments gain (loss), net $ (37,812 ) $ (22,826 ) $ 6,577 Subsequent Event The Company entered into additional derivative contracts for the second third 2023. Settlement Period Type of Contract Index Average Monthly Volumes Weighted Average Put Price Weighted Average Call Price (Bbls) (per Bbl) (per Bbl) April 2023 to June 2023 Collars Dated Brent 95,500 $ 65.00 $ 100.00 July 2023 to September 2023 Collars Dated Brent 95,500 $ 65.00 $ 96.00

Note 11 - Asset Retirement Obli

Note 11 - Asset Retirement Obligations	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Asset Retirement Obligation Disclosure [Text Block]	11. The following table summarizes the changes in the Company’s asset retirement obligations ("ARO's"): (in thousands) As of December 31, 2022 As of December 31, 2021 Beginning balance $ 40,694 $ 17,334 Accretion 1,958 1,627 Additions 6,134 14,564 Revisions (43 ) 7,169 Settlements (6,577 ) — Foreign currency gain (loss) (165 ) Ending balance $ 42,001 $ 40,694 Accretion is recorded in the line item “Depreciation, depletion and amortization” on the consolidated statements of operations and comprehensive income (loss). In connection with the TransGlobe Arrangement in October 2022, 4, $6.1 The Company provides for asset retirement obligations on all of its Canadian operations based on current legislation and industry operating practices. The estimated present value of the asset retirement obligation is recorded as a long-term liability, with a corresponding increase in the carrying amount of the related asset. The estimated ARO liability for Canada includes assumptions of actual costs to abandon and/or reclaim wells and facilities, the time frame in which such costs will be incurred, as well as using inflation factors and discount rates in order to calculate the amount of the ARO liability. In Egypt, under model concession agreements and the Fuel Material Law, liabilities in respect of decommissioning movable and immovable assets (other than wells) passes to the Egyptian Government through the transfer of ownership from the contractor to the government under the cost recovery process. While the current risk to the Company of becoming liable for decommissioning liabilities in Egypt is low, future changes to legislation could result in decommissioning liabilities in Egypt. Any increase in Egyptian decommissioning liabilities could adversely affect the Company's financial condition. In relation to petroleum wells, under good oilfield practices, the contractor is responsible for decommissioning non-producing wells under a decommissioning plan approved by EGPC during the life of the concession agreement. If EGPC agrees that a producing well is not may may not December 31, 2022, With relation to the end of the FPSO contract in October 2022, In connection with the Sasol Acquisition in February 2021, 4, The Company is required under the Etame PSC for the Etame Marin block in Gabon to conduct abandonment studies to update the amounts being funded for the eventual abandonment of the offshore wells, platforms and facilities on the Etame Marin block. The current abandonment study was prepared in November 2021. December 31, 2021, 12. December 31, 2022 December 31, 2021

Note 12 - Commitments and Conti

Note 12 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	12. Abandonment funding Under the terms of the Etame PSC, the Company has a cash funding arrangement for the eventual abandonment of all offshore wells, platforms and facilities on the Etame Marin block. As a result of the PSC Extension, annual funding payments are spread over the periods from 2018 2028, November 2021, December 31, 2022 On February 28, 2019, one six December 31, 2022, December 31, 2021, January 12, 2023, $37.3 2019. FPSO charter In connection with the charter of the FPSO, the Company, as operator of the Etame Marin block, guaranteed all of the charter payments under the charter through its contract term. At the Company’s election, the charter could be extended for two one September 2020. September 2022. September 9, 2022, October 4, 2022 Pursuant to the addendum, VAALCO Gabon agreed to pay the charterer day rate of $150,000 from August 20, 2022 October 4, 2022, December 31, 2021, fourth 2022. The FPSO charter payment included a $1.16 per barrel charter fee for production up to 20,000 barrels of crude oil per day and a $3.13 per barrel charter fee for those barrels produced in excess of 20,000 barrels of crude oil per day. VAALCO’s net share of these payments was $22.4 million, $22.1 million and $13.1 million for the years ended December 31, 2022, 2021 2020 Regulatory and Joint Interest Audits and Related Matters The Company is subject to periodic routine audits by various government agencies in Gabon, including audits of the Company’s petroleum cost account, customs, taxes and other operational matters, as well as audits by other members of the contractor group under the Company’s joint operating agreements. In 2016, 2013 2014. January 2017. not Between 2019 2021, 2015 2016. first 2023 not In 2019, 2017 2018. June 2020, one no FSO On August 31, 2021, 2021 2022 October 19, 2022, Dividend Policy On November 3, 2021, first 2022. 2022: Dividend Payment Date Amount per common share Record Date March 18, 2022 $ 0.0325 February 18, 2022 June 24, 2022 $ 0.0325 May 25, 2022 September 23, 2022 $ 0.0325 August 25, 2022 December 22, 2022 $ 0.0325 November 22, 2022 Aggregate per share amount paid in 2022 $ 0.1300 In the first 2023, February 14, 2023 March 31, 2023 March 24, 2023. In connection with the RBL facility, the Company is required to provide a cash flow projection prior to any distribution, share buyback, or stock repurchase. As long as a group liquidity test is above the required ratio outlined in the RBL facility agreement, and no may not December 31, 2022, no Payment of future dividends, if any, will be at the discretion of the board of directors after taking into account various factors, including current financial condition, the tax impact of repatriating cash, operating results and current and anticipated cash needs. Share Buyback Program On November 1, 2022, August 8, 2022 10b5 1 “10b5 1 10b 18 1934. 10b5 1 The below table shows the repurchases of equity securities related to the share repurchase program during the fourth December 31, 2022 Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Programs Maximum Amount that May Yet Be Used to Purchase Shares Under the Program November 1, 2022 - November 30, 2022 288,758 $ 5.21 288,758 $ 28,500,463 December 1, 2022 - December 31, 2022 282,163 $ 5.34 282,163 $ 27,000,767 Total 570,921 570,921 The following table shows the repurchases of equity securities related to the share repurchase program after December 31, 2022 March 31, 2023: Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Programs Maximum Amount that May Yet Be Used to Purchase Shares Under the Program January 1, 2023 - January 31, 2023 350,832 $ 4.29 350,832 $ 25,502,669 February 1, 2023 - February 28, 2023 326,992 $ 4.61 326,992 $ 24,003,172 March 1, 2023 - March 31, 2023 303,176 $ 4.97 303,176 $ 22,503,206 Total 981,000 981,000 The Company continues to purchase shares under the 10b5 1 April 2023. In connection with the RBL facility, the Company is required to provide a cash flow projection prior to any distribution, share buyback, or stock repurchase. As long as a group liquidity test is above the required ratio outlined in the RBL facility agreement, and no may not December 31, 2022, no The actual timing number and value of shares repurchased under the share buyback program will depend on a number of factors, including constraints specified in the Plan, the Company's stock price, general business and market conditions, and alternative investment opportunities. Under the Plan, the Company’s third Merged Concession Agreement On January 20, 2022, three 15 first January 19, 2022. February 1, 2022, second three February 1, 2024 February 1, 2026. December 31, 2022. 2023 February 1, 2023. The Company also has minimum financial work commitments of $50.0 million per each five February 1, 2020 ( December 31, 2022, five $50 five As the Merged Concession Agreement is effective as of February 1, 2020, October 13, 2022, December 31, 2022, Other contractual commitments In August 2020, 3 fourth 2020 January 2021. In June 2021, 2021/2022 December 2021 November 2022.

Note 13 - Debt

Note 13 - Debt	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Debt Disclosure [Text Block]	13. As of December 31, 2022 2021 RBL Facility On May 16, 2022, may not October 1, 2023 April 1 October 1 The Facility provides for determination of the borrowing base asset based on the Company’s proved producing reserves in Gabon and a portion of the Company's proved undeveloped reserves in Gabon. The borrowing base is determined and re-determined by the Lenders on March 31 September 30 no Each loan under the Facility will bear interest at a rate equal to LIBOR plus a margin (the “Applicable Margin”) of (i) 6.00% until the third third Pursuant to the Facility Agreement, the Company shall pay to Glencore for the account of each Lender a quarterly commitment fee equal to (i) 35% per annum of the Applicable Margin on the daily amount by which the lower of the total commitments and the borrowing base amount exceeds the amount of all outstanding utilizations under the Facility, plus (ii) 20% per annum of the Applicable Margin on the daily amount by which the total commitments exceed the borrowing base amount. The Borrower is also required to pay customary arrangement and security agent fees. The Facility Agreement contains certain debt covenants, including that, as of the last day of each calendar quarter, (i) the ratio of Consolidated Total Net Debt to EBITDAX (as each term is defined in the Facility Agreement) for the trailing 12 not 3.0x not December 31, 2022 December 31, 2022 2022 90 April 17, 2023. The Facility will mature on the earlier of (i) the fifth first Deferred financing costs incurred in connection with securing the Facility were $1.9 million, $2.1 million net of amortization of $0.2 million, which is carried in the accompanying consolidated balance sheets in the line item "Other long-term assets" and is amortized on a straight-line basis, which approximates the effective interest method, over the term of the Facility and included in interest expense in the accompanying consolidated statements of operations and comprehensive income (loss). ATB Facility In connection with the Arrangement with TransGlobe in October 2022, December 19, 2022, December 31, 2022, January 5, 2023, not

Note 14 - Leases

Note 14 - Leases	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Operating and Finance Leases [Text Block]	14. Under the leasing standard that became effective January 1, 2019, two Practical Expedients The Company elected to use all the practical expedients, effectively carrying over its previous identification and classification of leases that existed as of January 1, 2019. may not no Operating leases The Company is currently a party to several lease agreements for the corporate office, a drilling rig, rental of marine vessels and helicopters, warehouse and storage facilities, equipment and the FPSO. The duration for these agreements ranges from 6 to 27 months. In some cases, the lease contracts require the Company to make payments both for the use of the asset itself and for operations and maintenance services. Only the payments for the use of the asset related to the lease component are included in the calculation of ROU assets and lease liabilities. Payments for the operations and maintenance services are considered non-lease components and are not During the third 2019, first September 2021. third 2020, September 2022. On September 9, 2022, September 2022 October 4, 2022 842, The marine vessels and certain equipment leases include provisions for variable lease payments, under which the Company is required to make additional payments based on the level of production or the number of days or hours the asset is deployed, or the number of persons onboard the vessel. Because the Company does not Financing leases The Company is currently a party to several financing lease agreements for the FSO and generators used in the operations of the Etame Marin block and for equipment, offices and vehicles used in the operations of Canada and Egypt. The duration for these agreements ranges from 10 to 117 months. In some cases, the lease contracts require the Company to make payments both for the use of the asset itself and for operations and maintenance services. Only the payments for the use of the asset related to the lease component are included in the calculation of ROU assets and lease liabilities. Payments for the operations and maintenance services are considered non-lease components and are not On February 15, 2022, February 15, 2022. In August 2021, October 2022. third August 2022. October 19, 2022, All leases For all leases that contain an option to extend the initial lease term, the Company has evaluated whether it will extend the lease beyond the initial lease term. When the Company believes it will utilize these leased assets beyond the initial lease term, those payments have been included in the calculation for the ROU assets and liabilities. The discount rate used to calculate ROU assets and lease liabilities represents the Company’s incremental borrowing rate. The Company determined this by considering the term and economic environment of each lease, and estimating the resulting interest rate the Company would incur to borrow the lease payments. For the years ended December 31, 2022 2021 Year Ended December 31, 2022 2021 2020 Lease cost: (in thousands) Finance lease cost (1) $ 3,682 $ — $ — Operating lease cost 11,040 17,692 17,528 Short-term lease cost (2) 5,213 2,258 1,408 Variable lease cost (3) 4,513 6,188 7,572 Total lease expense 24,448 26,138 26,508 Lease costs capitalized 4,127 232 3,456 Total lease costs $ 28,575 $ 26,370 $ 29,964 ( 1 Represents depreciation and interest associated with financing leases. ( 2 Represents short term leases under contracts that are 1 not ( 3 Variable costs represent differences between minimum lease costs and actual lease costs incurred under lease contracts. Other information: 2022 2021 2020 Other information: Cash paid for amounts included in the measurement of lease liabilities: Financing cash flows attributable to finance leases $ 3,039 $ — $ — Weighted-average remaining lease term (in years) 9.65 — — Weighted-average discount rate 4.59 % — — Operating cash flows attributable to operating leases $ 19,300 $ 23,925 $ 26,178 Weighted-average remaining lease term (in years) 1.35 0.91 1.80 Weighted-average discount rate 9.91 % 5.91 % 6.09 % The table below describes the presentation of the total lease cost on the Company’s consolidated statements of operations and other comprehensive income (loss). As discussed above, the Company’s joint venture owners are required to reimburse the Company for their share of certain expenses, including certain lease costs. Year Ended December 31, 2022 2021 2020 (in thousands) Finance lease cost $ 2,188 $ — $ — Production expense 12,222 13,457 7,904 General and administrative expense 160 193 197 Lease costs billed to the joint venture owners 11,390 12,573 20,692 Total lease expense 25,960 26,223 28,793 Lease costs capitalized 2,615 147 1,171 Total lease costs $ 28,575 $ 26,370 $ 29,964 The following table describes the future maturities of the Company’s operating lease liabilities at December 31, 2022 Operating Leases Finance Leases Year (in thousands) 2023 $ 2,478 $ 11,619 2024 671 11,495 2025 33 13,495 2026 — 13,893 2027 — 12,350 Thereafter — 42,097 3,182 104,949 Less: imputed interest 182 18,890 Total lease liabilities $ 3,000 $ 86,059 Under the joint operating agreements, other joint venture owners are obligated to fund $44.6 million of the $108.1 million in future lease liabilities as of December 31, 2022

Note 15 - Accrued Liabilities a

Note 15 - Accrued Liabilities and Other	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]	15. Accrued liabilities and other balances were comprised of the following: As of December 31, 2022 As of December 31, 2021 (in thousands) Accrued accounts payable invoices $ 28,360 $ 11,967 Gabon DMO, PID and PIH obligations 10,509 9,465 Derivative liability - crude oil swaps — 4,806 Capital expenditures 26,618 11,327 Stock appreciation rights – current portion 570 609 Accrued wages and other compensation 8,161 2,124 ARO Obligation 306 6,745 Egypt Modernization Payments 9,933 — Other 6,935 2,401 Total accrued liabilities and other $ 91,392 $ 49,444

Note 16 - Shareholders' Equity

Note 16 - Shareholders' Equity	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	16. EQUITY On October 13, 2022, Preferred stock December 31, 2022 2021 Treasury stock On November 1, 2022, August 8, 2022. The below table shows the repurchases of the Company's equity securities during the fourth December 31, 2022 Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Programs Maximum Amount that May Yet Be Used to Purchase Shares Under the Program November 1, 2022 - November 30, 2022 288,758 $ 5.21 288,758 $ 28,500,463 December 1, 2022 - December 31, 2022 282,163 $ 5.34 282,163 $ 27,000,767 Total 570,921 570,921 For the majority of restricted stock awards granted by the Company, the number of shares issued to the participant on the vesting date are net of shares withheld to meet applicable tax withholding requirements. In addition, when options are exercised, the participant may Although these withheld shares are not

Note 17 - Stock-based Compensat

Note 17 - Stock-based Compensation and Other Benefit Plans	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	17. The Company’s stock-based compensation has been granted under several stock incentive and long-term incentive plans. The plans authorize the Compensation Committee of the Company’s Board of Directors to issue various types of incentive compensation. The Company had previously issued stock options and restricted shares under the 2014 “2014 2016 June 25, 2020, 2020 “2020 June 2021, 2020 2020 December 31, 2022 For each stock option granted, the number of authorized shares under the 2020 one one 2020 no As referenced in the table below, the Company records compensation expense related to stock-based compensation as general and administrative expense and production expense associated with the issuance of stock options, restricted stock and stock appreciation rights. During the years ended December 31, 2022, 2021 2020 December 31, 2022, 2021 2020 not no Year Ended December 31, 2022 2021 2020 (in thousands) Stock-based compensation - equity awards $ 2,045 $ 1,060 $ 848 Stock-based compensation - liability awards 155 1,399 (734 ) Total stock-based compensation $ 2,200 $ 2,459 $ 114 Stock options and performance shares Stock options have an exercise price that may not three three may In March 2022, ten one third first 30 one third second 30 one third third 30 not not The Company used the Monte Carlo simulation to calculate the grant date fair value of performance stock option awards. The fair value of these awards will be amortized to expense over the derived service period of the option. For options that do not During the year ended December 31, 2022, 2021 2020 2022 2021 Year Ended December 31, 2022 2021 2020 Weighted average exercise price - ($/share) $ 6.41 $ 3.14 $ 1.23 Expected life in years 6.0 6.0 6.0 Average expected volatility 72 % 75 % 74 Risk-free interest rate 1.98 % 0.95 % 0.42 Expected dividend yield 2.30 % — — Weighted average grant date fair value - ($/share) $ 2.84 $ 2.07 $ 0.79 Stock option activity associated with the Monte Carlo model for the year ended December 31, 2022 Number of Shares Underlying Options Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (in thousands) (in years) (in thousands) Outstanding at January 1, 2022 359 $ 1.96 Granted 241 6.41 Exercised (47 ) (1.23 ) Unvested shares forfeited (109 ) (4.03 ) Vested shares expired — — Outstanding at December 31, 2022 444 $ 3.95 7.15 $ 632 Exercisable at December 31, 2022 147 $ 1.83 3.92 $ 400 The intrinsic value of a performance stock option awards is the amount that the current market value of the underlying stock exceeds the exercise price of the award. The intrinsic performance stock option awards exercised in 2022 As of December 31, 2022, During the year ended December 31, 2022, Stock option activity associated with the Black-Scholes model for the year ended December 31, 2022 Number of Shares Underlying Options Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (in thousands) (in years) (in thousands) Outstanding at January 1, 2022 615 $ 1.58 Granted — — Exercised (228 ) (1.12 ) Unvested shares forfeited — — Vested shares expired — — Outstanding at December 31, 2022 387 $ 1.86 0.83 $ 1,045 Exercisable at December 31, 2022 387 $ 1.86 0.83 $ 1,045 The intrinsic value of a stock option is the amount that the current market value of the underlying stock exceeds the exercise price of the option. The intrinsic value of stock options exercised in 2022 2021 2020 As of December 31, 2022 none. During the year ended December 31, 2022 December 31, 2021 Restricted shares Restricted stock granted to employees will vest over a period determined by the Compensation Committee that is generally a three three first first not fifty 50 March 2022, June 2022, The following is the activity for the Company's restricted stock for the year ended December 31, 2022 Restricted Stock Weighted Average Grant Date Fair Value (in thousands) Non-vested shares outstanding at January 1, 2022 741 $ 2.36 Awards granted 384 6.56 Awards vested (334 ) 2.25 Awards forfeited (126 ) 3.68 Non-vested shares outstanding at December 31, 2022 665 $ 4.59 The total fair value of vested restricted stock awards during 2022 2021 2020 2022 2021 2020 As of December 31, 2022 During the year ended December 31, 2022 December 31, 2021 In connection with the Arrangement with TransGlobe and pursuant to the Arrangement Agreement, at the effective time of the Arrangement, certain awards previously issued to TransGlobe’s key employees and board members who continued their relationship as employees or board members of VAALCO following the Arrangement, will continue to be governed by the applicable TransGlobe plan, provided that each such applicable plan has been amended to provide that VAALCO common stock shall be issuable in lieu of cash or TransGlobe common stock with respect to TransGlobe’s deferred share units (“DSU”s), performance share units (“PSU”s) and restricted stock units (“RSU”s), in each case, based on the exchange ratio in the Arrangement. For the PSUs that will remain outstanding following the effective time of the Arrangement as described in the immediately preceding sentence, the applicable vesting percentage was determined by the TransGlobe board of directors to be 200% for PSUs granted in 2020 2021; 2022. On the effective date of the Arrangement, October 13, 2022, December 16, 2022, 2020 RSUs were issued to directors, officers and employees of TransGlobe in the ordinary course of business prior to the Arrangement. Each RSU vests annually over a three December 16, 2022, 2020 December 16, 2022 December 31, 2022 Restricted Stock Weighted Average Conversion Date Fair Value (in thousands) Non-vested shares outstanding at December 16, 2022 — $ — Awards converted 386 4.27 Awards vested (3 ) 4.27 Awards forfeited — — Non-vested shares outstanding at December 31, 2022 383 $ 4.27 The total fair value of vested RSU awards during 2022 $14 2022 As of December 31, 2022, During the year ended December 31, 2022, PSUs are similar to RSUs except that they originally contained a performance factor affecting the vesting percentage. For the PSUs that remained outstanding following the effective time of the Arrangement, the applicable vesting percentage was determined by the TransGlobe board of directors to be 200% 2020 2021; 64.4% 2022. third December 16, 2022, 2020 December 16, 2022 December 31, 2022 Restricted Stock Weighted Average Conversion Date Fair Value (in thousands) Non-vested shares outstanding at December 16, 2022 — $ — Awards converted 690 4.27 Awards vested — — Awards forfeited — — Non-vested shares outstanding at December 31, 2022 690 $ 4.27 No PSU awards vested from October 14, 2022 December 31, 2022. As of December 31, 2022, DSUs are similar to RSUs, except that they become fully vested on the date of grant and are only issued to directors of the Company. Distributions under the DSU plan do not December 16, 2022, 2020 December 16, 2022 December 31, 2022 Restricted Stock Weighted Average Conversion Date Fair Value (in thousands) Non-vested shares outstanding at December 16, 2022 — $ — Awards converted 460 4.27 Awards vested (460 ) 4.27 Awards forfeited — — Non-vested shares outstanding at December 31, 2022 — $ — Stock appreciation rights ( SARs ) SARs may 2016 2020 may not During the years ended December 31, 2022 2021 not December 31, 2022 Number of Shares Underlying SARs Weighted Average Exercise Price Per Share Term Aggregate Intrinsic Value (in thousands) (in years) (in thousands) Outstanding at January 1, 2022 362 $ 1.81 Granted — — Exercised (160 ) 1.74 Unvested SARs forfeited — — Vested SARs expired — — Outstanding at December 31, 2022 202 $ 1.87 0.85 $ 542 Exercisable at December 31, 2022 202 $ 1.87 0.85 $ 542 The intrinsic value of a SAR is the amount that the current market value of the underlying stock exceeds the exercise price of the award. The intrinsic value of SARs exercised in 2022, 2021 2020 SARs considered liabilities under US GAAP and the awards are measured at fair value on the grant date and remeasured at fair value until the award is settled. Other Benefit Plans The Company has adopted forms of change in control agreements for its named executive officers and certain other officers of the Company as well as a severance plan for its Houston-based non-executive employees in order to provide severance benefits in connection with a change in control. Upon a termination of a participant’s employment by the Company without cause or a resignation by the participant for good reason three six six The Company sponsors a 401 December 31, 2022 December 31, 2021 December 31, 2020,

Note 18 - Related Party Transac

Note 18 - Related Party Transactions	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	18. On November 7, 2022, ) November 7, 2022. On March 14, 2022, December 31, 2022, December 31, 2022,

Note 19 - Other Comprehensive I

Note 19 - Other Comprehensive Income	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	19. The Company’s other comprehensive income of $1.2 million is for the period of October 14 – December 31, 2022, The components of accumulated other comprehensive income are as follows: Currency Translation Adjustments (in thousands) Balance at December 31, 2021 $ — Accumulated other comprehensive income (loss) before reclassifications 1,179 Amounts reclassified from accumulated other comprehensive income (loss) — Balance at December 31, 2022 $ 1,179

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of consolidation
Use of Estimates, Policy [Policy Text Block]	Use of estimates Estimates of crude oil, natural gas and NGLs reserves used to estimate depletion expense and impairment charges require extensive judgments and are generally less precise than other estimates made in connection with financial disclosures. Due to inherent uncertainties and the limited nature of data, estimates are imprecise and subject to change over time as additional information becomes available.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and cash equivalents three may not not
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Restricted cash and abandonment funding December 31, 2022 2021 December 31, 2022 2021 12. As of December 31, 2022 2021 (in thousands) Cash and cash equivalents $ 37,205 $ 48,675 Restricted cash - current 222 79 Restricted cash - non-current 1,763 1,752 Abandonment funding 20,586 21,808 Total cash, cash equivalents and restricted cash $ 59,776 $ 72,314 The Company conducts regular abandonment studies to update the estimated costs to abandon the offshore wells, platforms and facilities on the Etame Marin block. This cash funding is reflected under “Other noncurrent assets” as “Abandonment funding” on the consolidated balance sheets. Future changes to the anticipated abandonment cost estimate could change the asset retirement obligation and the amount of future abandonment funding payments. See Note 11 On February 28, 2019, one six not not 2019 2022 2018 January 12, 2023, 2019.
Interest in Unincorporated Joint Ventures or Partnerships, Policy [Policy Text Block]	Accounts with joint venture owners
Accounts Receivable [Policy Text Block]	Accounts Receivable and Allowance for Doubtful Accounts 30 The Company routinely assesses the recoverability of all material receivables to determine their collectability. The Company accrues a reserve on a receivable when, based on management’s judgment, it is probable that a receivable will not may As of December 31, 2022 December 31, 2021, December 31, 2022 $1.00. December 31, 2021 $1.00. The following table provides an analysis of the change in the allowance: Year Ended December 31, 2022 2021 2020 (in thousands) Allowance for bad debt Balance at beginning of period $ (5,741 ) $ (2,273 ) $ (1,508 ) Bad debt charges, net of receipts (3,082 ) (875 ) (1,165 ) Adjustment associated with reversal of allowance on Mutamba receivable — — 593 Adjustment associated with Sasol Acquisition — (2,879 ) — Foreign currency gain (loss) 119 286 (193 ) Balance at end of period $ (8,704 ) $ (5,741 ) $ (2,273 )
Other Receivables [Policy Text Block]	Other receivables 2021, not two third December 31, 2022 September December 2022, September December 2022. On January 19, 2022, 15 5 February 1, 2020. December 31, 2022,
Inventory, Policy [Policy Text Block]	Crude oil inventory December 31, 2022 December 31, 2021, not
Prepayments and Other [Policy Text Block]	Prepayments and other December 31, 2022
Inventory Supplies, Policy [Policy Text Block]	Materials and supplies
Oil and Gas Properties Policy [Policy Text Block]	Crude oil, natural gas and NGLs properties, equipment and other
Exploratory Drilling Costs Capitalization and Impairment, Policy [Policy Text Block]	Capitalized Equipment Inventory Capitalization no may
Depreciation, Depletion, and Amortization [Policy Text Block]	Depreciation, depletion and amortization five five seven
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Impairment may not may 3 may 9
Business Combinations Policy [Policy Text Block]	Purchase Accounting October 13, 2022, July 13, 2022. 4 On February 25, 2021, November 17, 2020 4
Lessee, Leases [Policy Text Block]	Lease commitments 842,
Asset Retirement Obligation [Policy Text Block]	Asset retirement obligations ( ARO ) A liability for ARO is recognized in the period in which the legal obligations are incurred if a reasonable estimate of fair value can be made. The ARO liability reflects the estimated present value of the amount of dismantlement, removal, site reclamation, and similar activities associated with crude oil, natural gas and NGLs properties. The Company uses current retirement costs to estimate the expected cash outflows for retirement obligations. Inherent in the present value calculation are numerous assumptions and judgments including the ultimate settlement amounts, inflation factors, credit-adjusted discount rates, timing of settlement, and changes in the legal, regulatory, environmental, and political environments. Initial recording of the ARO liability is offset by the corresponding capitalization of asset retirement cost recorded to crude oil, natural gas and NGLs properties. To the extent these or other assumptions change after initial recognition of the liability, the fair value estimate is revised and the recognized liability adjusted, with a corresponding adjustment made to the related asset balance or income statement, as appropriate. Depreciation of capitalized asset retirement costs and accretion of asset retirement obligations are recorded over time. Depreciation is generally determined on a units-of-production basis for crude oil, natural gas and NGLs production facilities, while accretion escalates over the lives of the assets to reach the expected settlement value. Where there is a downward revision to the ARO that exceeds the net book value of the related asset, the corresponding adjustment is limited to the amount of the net book value of the asset and the remaining amount is recognized as a gain. See Note 11
Revenue from Contract with Customer [Policy Text Block]	Revenue recognition Revenues from contracts with customers are recognized when the Company satisfies a performance obligation by transferring a good or service to a customer. A good or service is transferred when the customer obtains control of the good or service. The transfer of control of oil, natural gas and NGLs usually coincides with title passing to the customer and the customer taking physical possession. VAALCO mainly satisfies its performance obligations at a point in time and the amounts of revenues recognized relating to performance obligations satisfied over time are not 7 In connection with the acquisition of TransGlobe on October 13, 2022,
Property, Plant and Equipment, Planned Major Maintenance Activities, Policy [Policy Text Block]	Major maintenance activities
Share-Based Payment Arrangement [Policy Text Block]	Stock-based compensation Black-Scholes and Monte Carlo models employ assumptions, based on management’s best estimates at the time of grant, which impact the calculation of fair value and ultimately, the amount of expense that is recognized over the life of the stock options or SAR award. These models use the following inputs: (i) the quoted market price of the Company’s common stock on the valuation date, (ii) the maximum stock price appreciation that an employee may For restricted stock awards, the grant date fair value is determined using the market value of the common stock on the date of grant. The stock-based compensation expense for equity awards is recognized over the requisite or derived service period, using the straight-line attribution method over the service period for each separately vesting portion of the award as if the award was, in-substance, multiple awards. For awards considered liabilities under US GAAP, awards are measured at fair value on the grant date and remeasured at fair value until the award is settled. Unless the awards contain a market condition, previously recognized expense related to forfeited awards is reversed in the period in which the forfeiture occurs. For awards containing a market condition, previously recognized stock-based compensation expense is not 17
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign currency transactions not 2022, 2021 2020.
Income Tax, Policy [Policy Text Block]	Income taxes may Judgment is required in determining whether deferred tax assets will be realized in full or in part. Management assesses the available positive and negative evidence to estimate if existing deferred tax assets will be utilized, and when it is estimated to be more-likely-than- not not not In certain jurisdictions, the Company may not not may 8
Derivatives, Policy [Policy Text Block]	Derivative instruments and hedging activities may The Company records balances resulting from commodity risk management activities in the consolidated balance sheets as either assets or liabilities measured at fair value. The Company has elected not 10
Fair Value Measurement, Policy [Policy Text Block]	Fair value three Level 1 Level 2 1 not Level 3 not
Nonrecurring Fair Value Measurements [Policy Text Block]	Nonrecurring Fair Value Measurements 3
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair value of financial instruments 10, 2 1 may may 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 As of December 31, 2021 Balance Sheet Line Level 1 Level 2 Level 3 Total (in thousands) Liabilities SARs liability Accrued liabilities and other $ — $ 609 $ — $ 609 Derivative liability Accrued liabilities and other — 4,806 — 4,806 $ — $ 5,415 $ — $ 5,415
Earnings Per Share, Policy [Policy Text Block]	Earnings per Share 6
Other Net Policy [Policy Text Block]	Other, net
Comprehensive Income, Policy [Policy Text Block]	Other comprehensive income • Income and expenses are translated at the date of the transaction • Assets and liabilities are translated at the prevailing rate on the balance sheet date. On the date of acquisition, October 13, 2022, December 31, 2022, .0.738

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Cash, Cash Equivalents and Restricted Cash [Table Text Block]	As of December 31, 2022 2021 (in thousands) Cash and cash equivalents $ 37,205 $ 48,675 Restricted cash - current 222 79 Restricted cash - non-current 1,763 1,752 Abandonment funding 20,586 21,808 Total cash, cash equivalents and restricted cash $ 59,776 $ 72,314
Accounts Receivable, Allowance for Credit Loss [Table Text Block]	Year Ended December 31, 2022 2021 2020 (in thousands) Allowance for bad debt Balance at beginning of period $ (5,741 ) $ (2,273 ) $ (1,508 ) Bad debt charges, net of receipts (3,082 ) (875 ) (1,165 ) Adjustment associated with reversal of allowance on Mutamba receivable — — 593 Adjustment associated with Sasol Acquisition — (2,879 ) — Foreign currency gain (loss) 119 286 (193 ) Balance at end of period $ (8,704 ) $ (5,741 ) $ (2,273 )
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	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 As of December 31, 2021 Balance Sheet Line Level 1 Level 2 Level 3 Total (in thousands) Liabilities SARs liability Accrued liabilities and other $ — $ 609 $ — $ 609 Derivative liability Accrued liabilities and other — 4,806 — 4,806 $ — $ 5,415 $ — $ 5,415

Note 4 - Acquisitions and Dis_2

Note 4 - Acquisitions and Dispositions (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	October 13, 2022 (in thousands) Purchase Consideration Common stock issued to TransGlobe shareholders $ 274,145 October 13, 2022 (in thousands) Assets acquired: Cash $ 36,686 Wells, platforms and other production facilities 243,669 Equipment and other 2,099 Undeveloped acreage 30,216 Accounts receivable - trade 48,068 Accounts receivable - other 50,275 Accounts with joint venture owners 68 Right of use operating leases 1,609 Right of use financing leases 204 Prepayment and other 7,627 Liabilities assumed: Asset retirement obligations (6,134 ) Accounts payable (10,223 ) Accrued liabilities and other (50,128 ) Operating lease liabilities - current portion (961 ) Financing lease liabilities - current portion (125 ) Operating lease liabilities - net of current portion (688 ) Financing lease liabilities - net of current portion (21 ) Deferred tax liabilities (40,964 ) Other long-term liabilities (26,313 ) Bargain purchase gain (10,819 ) Total purchase price $ 274,145 February 25, 2021 (in thousands) Purchase Consideration Cash $ 33,959 Fair value of contingent consideration 4,647 Total purchase consideration $ 38,606 February 25, 2021 (in thousands) Assets acquired: Wells, platforms and other production facilities $ 37,176 Equipment and other 5,568 Value added tax and other receivables 1,234 Abandonment funding 11,781 Accounts receivable - trade 11,220 Other current assets 3,963 Liabilities assumed: Asset retirement obligations (14,564 ) Accrued liabilities and other (10,121 ) Bargain purchase gain (7,651 ) Total purchase price $ 38,606
Business Acquisition, Pro Forma Information [Table Text Block]	Year Ended December 31, 2022 2021 (in thousands) Pro forma (unaudited) Crude oil and natural gas sales $ 547,670 (a) $ 367,210 (a) Operating income $ 267,582 (b) $ 104,924 (c) Net income $ 130,425 (d) $ 54,534 (e,f) Basic net income per share: Income from continuing operations $ 1.21 $ 0.51 Loss from discontinued operations, net of tax - - Net income per share $ 1.21 $ 0.51 Basic weighted average shares outstanding 108,206 107,537 Diluted net income per share: Income from continuing operations $ 1.20 $ 0.50 Loss from discontinued operations, net of tax - - Net income per share $ 1.20 $ 0.50 Diluted weighted average shares outstanding 108,642 108,062

Note 5 - Segment Information (T

Note 5 - Segment Information (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Year ended December 31, 2022 (in thousands) Gabon Egypt Canada Equatorial Guinea Corporate and Other Total Revenues: Crude oil, natural gas and natural gas liquids sales $ 306,775 $ 37,710 $ 9,841 $ — $ — $ 354,326 Operating costs and expenses: Production expense 96,854 11,936 1,972 1,899 — 112,661 FPSO demobilization 8,867 — — — — 8,867 Exploration expense 258 — — — — 258 Depreciation, depletion and amortization 34,651 10,444 2,921 — 127 48,143 General and administrative expense 3,101 — — 538 6,438 10,077 Bad debt expense and other 2,743 — — 339 — 3,082 Total operating costs and expenses 146,474 22,380 4,893 2,776 6,565 183,088 Other operating income, net 38 — — — — 38 Operating income (loss) 160,339 15,330 4,948 (2,776 ) (6,565 ) 171,276 Other income (expense): Derivative instruments gain (loss), net — — 13 — (37,825 ) (37,812 ) Interest (expense) income, net (1,446 ) (596 ) — — 8 (2,034 ) Other expense, net (1,484 ) — — — (6,564 ) (8,048 ) Total other Income (expense), net (2,930 ) (596 ) 13 — (44,381 ) (47,894 ) Income (loss) from continuing operations before income taxes 157,409 14,734 4,961 (2,776 ) (50,946 ) 123,382 Income tax (benefit) expense 68,509 6,254 — 1 (3,344 ) 71,420 Income (loss) from continuing operations 88,900 8,480 4,961 (2,777 ) (47,602 ) 51,962 Loss from discontinued operations, net of tax — — — — (72 ) (72 ) Net income (loss) $ 88,900 $ 8,480 $ 4,961 $ (2,777 ) $ (47,674 ) $ 51,890 Consolidated capital expenditures (1) $ 162,375 $ 168,012 $ 103,263 $ — $ 710 $ 434,360 Year Ended December 31, 2021 (in thousands) Gabon Equatorial Guinea Corporate and Other Total Revenues: Crude oil and natural gas sales $ 199,075 $ — $ — $ 199,075 Operating costs and expenses: Production expense 80,717 532 6 81,255 Exploration expense 1,579 — — 1,579 Depreciation, depletion and amortization 20,972 — 88 21,060 General and administrative expense 1,301 321 13,144 14,766 Bad debt expense and other 875 - — 875 Total operating costs and expenses 105,444 853 13,238 119,535 Other operating expense, net (440 ) — — (440 ) Operating income 93,191 (853 ) (13,238 ) 79,100 Other income (expense): Derivative instruments loss, net — — (22,826 ) (22,826 ) Interest income, net — — 10 10 Other (expense) income, net 6,925 (3 ) (3,428 ) 3,494 Total other income (expense), net 6,925 (3 ) (26,244 ) (19,322 ) Income (loss) from continuing operations before income taxes 100,116 (856 ) (39,482 ) 59,778 Income tax (benefit) expense 12,392 1 (34,549 ) (22,156 ) Income (loss) from continuing operations 87,724 (857 ) (4,933 ) 81,934 Loss from discontinued operations, net of tax — — (98 ) (98 ) Net income (loss) $ 87,724 $ (857 ) $ (5,031 ) $ 81,836 Consolidated capital expenditures (1) $ 79,169 $ — $ 52 $ 79,221 Year Ended December 31, 2020 (in thousands) Gabon Equatorial Guinea Corporate and Other Total Revenues: Crude oil and natural gas sales $ 67,176 $ — $ — $ 67,176 Operating costs and expenses: Production expense 37,298 1 16 37,315 Exploration expense 3,588 — — 3,588 Depreciation, depletion and amortization 9,028 — 354 9,382 Impairment of proved crude oil and natural gas properties 30,625 — — 30,625 General and administrative expense 1,064 430 9,201 10,695 Bad debt expense and other 1,165 — — 1,165 Total operating costs and expenses 82,768 431 9,571 92,770 Other operating expense, net (1,669 ) — — (1,669 ) Operating loss (17,261 ) (431 ) (9,571 ) (27,263 ) Other income (expense): Derivative instruments gain, net — — 6,577 6,577 Interest income, net — — 155 155 Other (expense) income, net 194 3 (68 ) 129 Total other expense, net 194 3 6,664 6,861 Loss from continuing operations before income taxes (17,067 ) (428 ) (2,907 ) (20,402 ) Income tax expense 16,204 1 11,476 27,681 Loss from continuing operations (33,271 ) (429 ) (14,383 ) (48,083 ) Loss from discontinued operations, net of tax — — (98 ) (98 ) Net loss $ (33,271 ) $ (429 ) $ (14,481 ) $ (48,181 ) Consolidated capital expenditures $ 10,503 $ — $ (9 ) $ 10,494
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	(in thousands) Gabon Egypt Canada Equatorial Guinea Corporate and Other Total Long-lived assets from continuing operations: As of December 31, 2022 (1) $ 213,204 $ 168,012 $ 103,263 $ 10,000 $ 793 $ 495,272 As of December 31, 2021 (2) 84,156 $ — $ — $ 10,000 $ 168 $ 94,324 (in thousands) Gabon Egypt Canada Equatorial Guinea Corporate and Other Total Total assets from continuing operations: As of December 31, 2022 (1) $ 395,393 $ 293,640 $ 110,071 $ 10,861 $ 45,676 $ 855,641 As of December 31, 2021 (2) 201,748 $ — $ — $ 10,548 $ 50,794 $ 263,090

Note 6 - Earnings Per Share (Ta

Note 6 - Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Weighted Average Number of Shares [Table Text Block]	Year Ended December 31, 2022 2021 2020 (in thousands) Net income (loss) (numerator): Income (loss) from continuing operations $ 51,962 $ 81,934 $ (48,083 ) Income from continuing operations attributable to unvested shares (594 ) (1,336 ) — Numerator for basic 51,368 80,598 (48,083 ) Loss from continuing operations attributable to unvested shares 3 — — Numerator for dilutive $ 51,371 $ 80,598 $ (48,083 ) Loss from discontinued operations, net of tax $ (72 ) $ (98 ) $ (98 ) Loss from discontinued operations attributable to unvested shares 1 2 — Numerator for basic (71 ) (96 ) (98 ) (Income) loss from discontinued operations attributable to unvested shares — — — Numerator for dilutive $ (71 ) $ (96 ) $ (98 ) Net income (loss) $ 51,890 $ 81,836 $ (48,181 ) Net income attributable to unvested shares (593 ) (1,334 ) — Numerator for basic 51,297 80,502 (48,181 ) Net (income) loss attributable to unvested shares 3 — — Numerator for dilutive $ 51,300 $ 80,502 $ (48,181 ) Weighted average shares (denominator): Basic weighted average shares outstanding 69,568 58,230 57,594 Effect of dilutive securities 414 525 — Diluted weighted average shares outstanding 69,982 58,755 57,594 Stock options and unvested restricted stock grants excluded from dilutive calculation because they would be anti-dilutive 189 169 3,545

Note 7 - Revenue (Tables)

Note 7 - Revenue (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Disaggregation of Revenue [Table Text Block]	Year Ended December 31, 2022 2021 2020 Revenues from customer contracts: (in thousands) Sales under the COSPA or COSMA $ 320,522 $ 200,321 $ 67,041 Other items reported in revenue not associated with customer contracts: Gabonese government share of Profit Oil taken in-kind 26,257 20,103 8,738 Carried interest recoupment 5,843 7,517 1,631 Royalties (45,847 ) (28,866 ) (10,234 ) Crude oil and natural gas sales $ 306,775 $ 199,075 $ 67,176 October 14 - December 31, 2022 Sales Revenues from customer contracts: (in thousands) Gross sales $ 56,452 Royalties (18,742 ) Net revenues $ 37,710 October 14 - December 31, 2022 Sales Revenues from customer contracts: (in thousands) Oil revenue $ 7,362 Gas revenue 1,340 NGL revenue 2,235 Condensate revenue 7 Other revenue 34 Royalties (1,137 ) Net revenues $ 9,841

Note 8 - Income Taxes (Tables)

Note 8 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Year Ended December 31, 2022 2021 2020 (in thousands) U.S. Federal: Current $ — $ — $ (337 ) Deferred (3,344 ) (34,548 ) 11,814 Foreign: Current 26,615 20,282 3,859 Deferred 48,149 (7,890 ) 12,345 Total $ 71,420 $ (22,156 ) $ 27,681
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	As of December 31, (in thousands) 2022 2021 Deferred tax assets: Basis difference in fixed assets $ 9,299 $ 20,133 Foreign tax credit carryforward 14,848 20,084 Net operating losses 48,981 25,182 Foreign deferred tax assets, net of impact on U.S. taxes — 8,693 Asset retirement obligations 8,531 8,546 Operating lease liabilities 10,753 1,750 Basis difference in accrued liabilities 3,800 402 Basis difference in receivables 2,783 454 Other 622 1,683 Total deferred tax assets 99,617 86,927 Valuation allowance (47,583 ) (46,949 ) Net deferred tax assets $ 52,034 $ 39,978 Deferred tax liabilities: Basis difference in fixed assets (97,825 ) — Net deferred tax liabilities $ (97,825 ) $ —
Summary of Operating Loss Carryforwards [Table Text Block]	Jurisdiction Amount Expiration Period U.S. $ 45,498 No expiration Gabon $ 37,983 No expiration Egypt $ 14,558 2023 2027 Canada $ 130,542 2024 2042
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]	Year Ended December 31, (in thousands) 2022 2021 2020 U.S. $ (56,750 ) $ (38,867 ) $ (2,908 ) Foreign 180,132 98,645 (17,494 ) $ 123,382 $ 59,778 $ (20,402 )
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Year Ended December 31, (in thousands) 2022 2021 2020 Tax provision computed at U.S. statutory rate $ 25,910 $ 12,553 $ (4,284 ) Foreign taxes not offset in U.S. by foreign tax credits 53,851 35,306 (9,801 ) Permanent differences 778 (703 ) 97 Foreign tax credit expirations 17,247 14,060 — Increase/(decrease) in valuation allowance (25,623 ) (83,372 ) 41,635 Other (743 ) — 34 Total income tax expense (benefit) $ 71,420 $ (22,156 ) $ 27,681
Summary of Income Tax Examinations [Table Text Block]	Jurisdiction Years U.S. 2014-2022 Gabon 2018-2022 Egypt 2017-2022 Canada 2018-2022

Note 9 - Crude Oil and Natura_2

Note 9 - Crude Oil and Natural Gas Properties and Equipment (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Property, Plant and Equipment [Table Text Block]	As of December 31, 2022 As of December 31, 2021 (in thousands) Crude oil and natural gas properties and equipment - successful efforts method: Wells, platforms and other production facilities $ 1,406,888 $ 488,756 Work-in-progress — 13,515 Undeveloped acreage 56,251 23,735 Equipment and other 38,796 23,478 1,501,935 549,484 Accumulated depreciation, depletion, amortization and impairment (1,006,663 ) (455,160 ) Net crude oil and natural gas properties, equipment and other $ 495,272 $ 94,324

Note 10 - Derivatives and Fai_2

Note 10 - Derivatives and Fair Value (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]	Settlement Period Type of Contract Index Average Monthly Volumes Weighted Average Put Price Weighted Average Call Price (Bbls) (per Bbl) (per Bbl) January 2023 to March 2023 Collars Dated Brent 101,000 $ 65.00 $ 120.00 Settlement Period Type of Contract Index Average Monthly Volumes Weighted Average Put Price Weighted Average Call Price (Bbls) (per Bbl) (per Bbl) April 2023 to June 2023 Collars Dated Brent 95,500 $ 65.00 $ 100.00 July 2023 to September 2023 Collars Dated Brent 95,500 $ 65.00 $ 96.00
Schedule of Derivative Instruments [Table Text Block]	Year Ended December 31, Derivative Item Statement of Operations Line 2022 2021 2020 (in thousands) Commodity derivatives Cash settlements paid on matured derivative contracts, net $ (42,935 ) $ (18,020 ) $ 7,216 Unrealized gain (loss) 5,123 (4,806 ) (639 ) Derivative instruments gain (loss), net $ (37,812 ) $ (22,826 ) $ 6,577

Note 11 - Asset Retirement Ob_2

Note 11 - Asset Retirement Obligations (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Change in Asset Retirement Obligation [Table Text Block]	(in thousands) As of December 31, 2022 As of December 31, 2021 Beginning balance $ 40,694 $ 17,334 Accretion 1,958 1,627 Additions 6,134 14,564 Revisions (43 ) 7,169 Settlements (6,577 ) — Foreign currency gain (loss) (165 ) Ending balance $ 42,001 $ 40,694

Note 12 - Commitments and Con_2

Note 12 - Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Dividends Payable [Table Text Block]	Dividend Payment Date Amount per common share Record Date March 18, 2022 $ 0.0325 February 18, 2022 June 24, 2022 $ 0.0325 May 25, 2022 September 23, 2022 $ 0.0325 August 25, 2022 December 22, 2022 $ 0.0325 November 22, 2022 Aggregate per share amount paid in 2022 $ 0.1300
Class of Treasury Stock [Table Text Block]	Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Programs Maximum Amount that May Yet Be Used to Purchase Shares Under the Program November 1, 2022 - November 30, 2022 288,758 $ 5.21 288,758 $ 28,500,463 December 1, 2022 - December 31, 2022 282,163 $ 5.34 282,163 $ 27,000,767 Total 570,921 570,921 Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Programs Maximum Amount that May Yet Be Used to Purchase Shares Under the Program January 1, 2023 - January 31, 2023 350,832 $ 4.29 350,832 $ 25,502,669 February 1, 2023 - February 28, 2023 326,992 $ 4.61 326,992 $ 24,003,172 March 1, 2023 - March 31, 2023 303,176 $ 4.97 303,176 $ 22,503,206 Total 981,000 981,000

Note 14 - Leases (Tables)

Note 14 - Leases (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Lease, Cost [Table Text Block]	Year Ended December 31, 2022 2021 2020 Lease cost: (in thousands) Finance lease cost (1) $ 3,682 $ — $ — Operating lease cost 11,040 17,692 17,528 Short-term lease cost (2) 5,213 2,258 1,408 Variable lease cost (3) 4,513 6,188 7,572 Total lease expense 24,448 26,138 26,508 Lease costs capitalized 4,127 232 3,456 Total lease costs $ 28,575 $ 26,370 $ 29,964 2022 2021 2020 Other information: Cash paid for amounts included in the measurement of lease liabilities: Financing cash flows attributable to finance leases $ 3,039 $ — $ — Weighted-average remaining lease term (in years) 9.65 — — Weighted-average discount rate 4.59 % — — Operating cash flows attributable to operating leases $ 19,300 $ 23,925 $ 26,178 Weighted-average remaining lease term (in years) 1.35 0.91 1.80 Weighted-average discount rate 9.91 % 5.91 % 6.09 %
Summary of Lease Costs in Consolidated Statements of Operations [Table Text Block]	Year Ended December 31, 2022 2021 2020 (in thousands) Finance lease cost $ 2,188 $ — $ — Production expense 12,222 13,457 7,904 General and administrative expense 160 193 197 Lease costs billed to the joint venture owners 11,390 12,573 20,692 Total lease expense 25,960 26,223 28,793 Lease costs capitalized 2,615 147 1,171 Total lease costs $ 28,575 $ 26,370 $ 29,964
Lessee, Operating and Finance Lease Liability, Maturity [Table Text Block]	Operating Leases Finance Leases Year (in thousands) 2023 $ 2,478 $ 11,619 2024 671 11,495 2025 33 13,495 2026 — 13,893 2027 — 12,350 Thereafter — 42,097 3,182 104,949 Less: imputed interest 182 18,890 Total lease liabilities $ 3,000 $ 86,059

Note 15 - Accrued Liabilities_2

Note 15 - Accrued Liabilities and Other (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	As of December 31, 2022 As of December 31, 2021 (in thousands) Accrued accounts payable invoices $ 28,360 $ 11,967 Gabon DMO, PID and PIH obligations 10,509 9,465 Derivative liability - crude oil swaps — 4,806 Capital expenditures 26,618 11,327 Stock appreciation rights – current portion 570 609 Accrued wages and other compensation 8,161 2,124 ARO Obligation 306 6,745 Egypt Modernization Payments 9,933 — Other 6,935 2,401 Total accrued liabilities and other $ 91,392 $ 49,444

Note 16 - Shareholders' Equity

Note 16 - Shareholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Stockholders Equity [Table Text Block]	Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Programs Maximum Amount that May Yet Be Used to Purchase Shares Under the Program November 1, 2022 - November 30, 2022 288,758 $ 5.21 288,758 $ 28,500,463 December 1, 2022 - December 31, 2022 282,163 $ 5.34 282,163 $ 27,000,767 Total 570,921 570,921

Note 17 - Stock-based Compens_2

Note 17 - Stock-based Compensation and Other Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Year Ended December 31, 2022 2021 2020 (in thousands) Stock-based compensation - equity awards $ 2,045 $ 1,060 $ 848 Stock-based compensation - liability awards 155 1,399 (734 ) Total stock-based compensation $ 2,200 $ 2,459 $ 114
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Year Ended December 31, 2022 2021 2020 Weighted average exercise price - ($/share) $ 6.41 $ 3.14 $ 1.23 Expected life in years 6.0 6.0 6.0 Average expected volatility 72 % 75 % 74 Risk-free interest rate 1.98 % 0.95 % 0.42 Expected dividend yield 2.30 % — — Weighted average grant date fair value - ($/share) $ 2.84 $ 2.07 $ 0.79
Share-Based Payment Arrangement, Option, Activity [Table Text Block]	Number of Shares Underlying Options Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (in thousands) (in years) (in thousands) Outstanding at January 1, 2022 359 $ 1.96 Granted 241 6.41 Exercised (47 ) (1.23 ) Unvested shares forfeited (109 ) (4.03 ) Vested shares expired — — Outstanding at December 31, 2022 444 $ 3.95 7.15 $ 632 Exercisable at December 31, 2022 147 $ 1.83 3.92 $ 400 Number of Shares Underlying Options Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (in thousands) (in years) (in thousands) Outstanding at January 1, 2022 615 $ 1.58 Granted — — Exercised (228 ) (1.12 ) Unvested shares forfeited — — Vested shares expired — — Outstanding at December 31, 2022 387 $ 1.86 0.83 $ 1,045 Exercisable at December 31, 2022 387 $ 1.86 0.83 $ 1,045
Nonvested Restricted Stock Shares Activity [Table Text Block]	Restricted Stock Weighted Average Grant Date Fair Value (in thousands) Non-vested shares outstanding at January 1, 2022 741 $ 2.36 Awards granted 384 6.56 Awards vested (334 ) 2.25 Awards forfeited (126 ) 3.68 Non-vested shares outstanding at December 31, 2022 665 $ 4.59 Restricted Stock Weighted Average Conversion Date Fair Value (in thousands) Non-vested shares outstanding at December 16, 2022 — $ — Awards converted 386 4.27 Awards vested (3 ) 4.27 Awards forfeited — — Non-vested shares outstanding at December 31, 2022 383 $ 4.27
Share-Based Payment Arrangement, Performance Shares, Activity [Table Text Block]	Restricted Stock Weighted Average Conversion Date Fair Value (in thousands) Non-vested shares outstanding at December 16, 2022 — $ — Awards converted 690 4.27 Awards vested — — Awards forfeited — — Non-vested shares outstanding at December 31, 2022 690 $ 4.27
Share-Based Payment Arrangement, Deferred Shares, Activity [Table Text Block]	Restricted Stock Weighted Average Conversion Date Fair Value (in thousands) Non-vested shares outstanding at December 16, 2022 — $ — Awards converted 460 4.27 Awards vested (460 ) 4.27 Awards forfeited — — Non-vested shares outstanding at December 31, 2022 — $ —
Share-Based Payment Arrangement, Stock Appreciation Right, Activity [Table Text Block]	Number of Shares Underlying SARs Weighted Average Exercise Price Per Share Term Aggregate Intrinsic Value (in thousands) (in years) (in thousands) Outstanding at January 1, 2022 362 $ 1.81 Granted — — Exercised (160 ) 1.74 Unvested SARs forfeited — — Vested SARs expired — — Outstanding at December 31, 2022 202 $ 1.87 0.85 $ 542 Exercisable at December 31, 2022 202 $ 1.87 0.85 $ 542

Note 19 - Other Comprehensive_2

Note 19 - Other Comprehensive Income (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Currency Translation Adjustments (in thousands) Balance at December 31, 2021 $ — Accumulated other comprehensive income (loss) before reclassifications 1,179 Amounts reclassified from accumulated other comprehensive income (loss) — Balance at December 31, 2022 $ 1,179

Note 1 - Organization (Details

Note 1 - Organization (Details Textual) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) $ / item	Dec. 31, 2021 USD ($) $ / item	Dec. 31, 2020 USD ($) $ / item
Impairment of Oil and Gas Properties | $	$ 0	$ 0	$ 30,625
Oil and Gas, Average Sale Price (in USD per Per Share) | $ / item	100.93	70.86	41.96
Oil and Gas, Average Sale Price, Increase (Decrease), Percentage	42%	69%

Note 2 - Summary of Significa_3

Note 2 - Summary of Significant Accounting Policies (Details Textual) $ in Millions			3 Months Ended	4 Months Ended	12 Months Ended
	Jan. 19, 2022 USD ($)	Feb. 25, 2021	Dec. 31, 2022 USD ($)	Dec. 31, 2022 USD ($) MMBbls	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Jan. 12, 2023 USD ($)	Oct. 13, 2022 USD ($)
Abandonment Funding Payment Due			$ 5.8	$ 5.8	$ 5.8
Accounts Receivable, before Allowance for Credit Loss, Noncurrent, Total			$ 13.9	$ 13.9	$ 13.9	$ 9.6
Foreign Currency Exchange Rate, Translation			612.6	612.6	612.6	578.2
Prepaid Insurance			$ 2.7	$ 2.7	$ 2.7
Prepaid Charter			0.9	0.9	0.9
Foreign Currency Transaction Gain (Loss), before Tax, Total					(4.2)	$ (0.7)	$ (0.2)
Etame Marine Block [Member]
Increase (Decrease) in Working Interest Ownership Percentage		27.80%
Prepayments and Other [Member]
Prepaid Expense and Other Assets			4	4	4
TransGlobe [Member]
Foreign Currency Exchange Rate, Translation									0.724
Other Receivables	$ 67.5		50.3	50.3	50.3				$ 67.5
Merged Concession Agreement, Development Term (Year)	15 years
Merged Concession Agreement, Extension Term (Year)	5 years
Proceeds from Collection of Other Receivables			17.2		17.2
Prepaid Expense and Other Assets			7.2	7.2	7.2
Sasol Gabon S.A. [Member]
Prepaid Royalties			4.8	4.8	4.8
Production Sharing Contract, September 17, 2018 Through September 16, 2028 [Member]
Other Receivables			18.2	$ 18.2	18.2
Oil and Gas, Delivered (Million Barrels of Oil) | MMBbls				195
Accounts Payable, Other, Current			17.9	$ 17.9	17.9
Vaalco Energy Inc. and Other Etame Marin Block Owners [Member]
Accounts Receivable, before Allowance for Credit Loss, Noncurrent, Total			$ 21.8	$ 21.8	$ 21.8	$ 14.5
Subsequent Event [Member]
Account Prior to Conversion								$ 37.3

Note 2 - Summary of Significa_4

Note 2 - Summary of Significant Accounting Policies - Reconciliation of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Cash and cash equivalents	$ 37,205	$ 48,675
Restricted cash	222	79
Restricted cash - non-current	1,763	1,752
Abandonment funding	20,586	21,808
Total cash, cash equivalents and restricted cash	$ 59,776	$ 72,314

Note 2 - Summary of Significa_5

Note 2 - Summary of Significant Accounting Policies - Analysis of Change in Allowance for Bad Debt (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Balance at beginning of period	$ (5,741)	$ (2,273)	$ (1,508)
Bad debt charges, net of receipts	(3,082)	(875)	(1,165)
Adjustment associated with reversal of allowance on Mutamba receivable	0	0	593
Adjustment associated with Sasol Acquisition	0	(2,879)	0
Foreign currency gain (loss)	119	286	(193)
Balance at end of period	$ (8,704)	$ (5,741)	$ (2,273)

Note 2 - Summary of Significa_6

Note 2 - Summary of Significant Accounting Policies - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Assets, Fair Value Disclosure, Total	$ 102
Liabilities, Fair Value Disclosure, Total	556	$ 5,415
Prepayments and Other [Member]
Derivative asset	102
Accrued Liabilities [Member]
SARs liability	556	609
Derivative liability		4,806
Fair Value, Inputs, Level 1 [Member]
Assets, Fair Value Disclosure, Total	0
Liabilities, Fair Value Disclosure, Total	0	0
Fair Value, Inputs, Level 1 [Member] | Prepayments and Other [Member]
Derivative asset	0
Fair Value, Inputs, Level 1 [Member] | Accrued Liabilities [Member]
SARs liability	0	0
Derivative liability		0
Fair Value, Inputs, Level 2 [Member]
Assets, Fair Value Disclosure, Total	102
Liabilities, Fair Value Disclosure, Total	556	5,415
Fair Value, Inputs, Level 2 [Member] | Prepayments and Other [Member]
Derivative asset	102
Fair Value, Inputs, Level 2 [Member] | Accrued Liabilities [Member]
SARs liability	556	609
Derivative liability		4,806
Fair Value, Inputs, Level 3 [Member]
Assets, Fair Value Disclosure, Total	0
Liabilities, Fair Value Disclosure, Total	0	0
Fair Value, Inputs, Level 3 [Member] | Prepayments and Other [Member]
Derivative asset	0
Fair Value, Inputs, Level 3 [Member] | Accrued Liabilities [Member]
SARs liability	$ 0	0
Derivative liability		$ 0

Note 4 - Acquisitions and Dis_3

Note 4 - Acquisitions and Dispositions (Details Textual) $ / shares in Units, $ in Thousands, shares in Millions				1 Months Ended	12 Months Ended
	Oct. 13, 2022 USD ($) $ / shares shares	Apr. 29, 2021 USD ($)	Feb. 25, 2021 USD ($)	Dec. 31, 2022 USD ($) $ / shares	Dec. 31, 2022 USD ($) $ / shares	Dec. 31, 2021 USD ($) $ / shares	Dec. 31, 2020 USD ($)	Feb. 24, 2021	Nov. 30, 2006
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares	$ 0.10			$ 0.10	$ 0.10	$ 0.10
Business Combination, Bargain Purchase, Gain Recognized, Amount					$ 10,819	$ 7,651	$ 0
Revenues, Total				$ 9,841	354,326	199,075	67,176
Net Income (Loss) Attributable to Parent, Total					51,890	81,836	$ (48,181)
Block 5 PSA [Member]
Equity Method Investment, Ownership Percentage									40%
Equity Method Investment, Additional Working Interest Percentage									10%
TransGlobe [Member] | Excluded From ProForma [Member]
Asset Impairment Charges, Total					(23,700)	31,500
Severance Costs					10,200	10,200
Business Acquisition, Transaction Costs				6,500	6,500
TransGlobe [Member] | Pro Forma [Member]
Business Combination, Bargain Purchase, Gain Recognized, Amount						10,800
Business Acquisition, Transaction Costs						21,100
TransGlobe [Member] | Granted in 2021 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Target Percentage	200%
TransGlobe [Member] | Awards Granted, 2022 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Target Percentage	64.40%
TransGlobe [Member] | Granted in 2020 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Target Percentage	200%
VAALCO Energy [Member] | Excluded From ProForma [Member]
Business Combination, Bargain Purchase, Gain Recognized, Amount					10,800
Business Acquisition, Transaction Costs				14,600	14,600
VAALCO Energy [Member] | VAALCO Stockholders [Member]
Estimated Ownership to Be Received, Percent	54.50%
VAALCO Energy [Member] | TransGlobe Shareholders [Member]
Estimated Ownership to Be Received, Percent	45.50%
TransGlobe [Member]
Business Acquisition, Exchange Ratio	0.6727
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | shares	49.3
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual					47,600
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual					10,000
Business Combination, Bargain Purchase, Gain Recognized, Amount	$ 10,800
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	6,000
Share-based Compensation Arrangement by Share-based Payment Award, Revalued Equity Awards, Gain (Loss)	600
TransGlobe [Member] | Awards Granted, 2022 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Revalued Equity Awards, Gain (Loss)	$ 600
TransGlobe [Member] | Other Income (Expense), Net [Member]
Business Combination, Acquisition Related Costs					14,600
Etame Marine Block [Member]
Business Combination, Bargain Purchase, Gain Recognized, Amount			$ 7,700
Working Interest Ownership, Percentage			58.80%					31.10%
Business Combination, Bargain Purchase Gain, Recognized Amount, Net of Tax			$ 5,200
Business Combination, Bargain Purchase Gain, Recognized Amount, Tax Expense (Benefit)			(4,100)
Business Combination, Contingent Consideration, Liability, Total			$ 5,000
Business Combination, Contingent Consideration, Measurement Period of Oil Price (Day)			90 days
Business Combination, Contingent Consideration, Oil Price Threshold			60
Payment for Contingent Consideration Liability, Investing Activities		$ 5,000
Revenues, Total					144,800	84,600
Net Income (Loss) Attributable to Parent, Total					14,600	29,300
Etame Marine Block [Member] | Excluded From ProForma [Member]
Business Combination, Bargain Purchase, Gain Recognized, Amount					7,700
Business Acquisition, Transaction Costs				$ 1,000	$ 1,000
Etame Marine Block [Member] | Sasol Gabon S.A. [Member]
Business Acquisition, Percentage of Voting Interests Acquired			27.80%
Sasol Gabon S.A. [Member] | Other Income (Expense), Net [Member]
Business Combination, Acquisition Related Costs						$ 1,000

Note 4 - Acquisitions and Dis_4

Note 4 - Acquisitions and Dispositions - Allocation of Purchase Price to Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Oct. 13, 2022	Feb. 25, 2021
Etame Marine Block [Member]
Wells, platforms and other production facilities		$ 37,176
Equipment and other		5,568
Accounts receivable - trade		11,220
Asset retirement obligations		(14,564)
Accounts payable		(10,121)
Bargain purchase gain		(7,651)
Total purchase price		38,606
Cash		33,959
Fair value of contingent consideration		4,647
Total purchase consideration		38,606
Value added tax and other receivables		1,234
Abandonment funding		11,781
Other current assets		$ 3,963
TransGlobe Shareholders [Member]
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	$ 274,145
TransGlobe [Member]
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	6,000
Cash	36,686
Wells, platforms and other production facilities	243,669
Equipment and other	2,099
Undeveloped acreage	30,216
Accounts receivable - trade	48,068
Accounts receivable - other	50,275
Accounts with joint venture owners	68
Right of use operating leases	1,609
Right of use financing leases	204
Prepayment and other	7,627
Asset retirement obligations	(6,134)
Accounts payable	(10,223)
Accrued liabilities and other	(50,128)
Operating lease liabilities - current portion	(961)
Financing lease liabilities - current portion	(125)
Operating lease liabilities - net of current portion	(688)
Financing lease liabilities - net of current portion	(21)
Deferred tax liabilities	(40,964)
Other long-term liabilities	(26,313)
Bargain purchase gain	(10,819)
Total purchase price	$ 274,145

Note 4 - Acquisition and Dispos

Note 4 - Acquisition and Dispositions - Unaudited Proforma Results (Details) - Etame Marine Block [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022		Dec. 31, 2021
Crude oil and natural gas sales	$ 547,670		$ 367,210
Operating income	267,582		104,924
Net income	$ 130,425	[1]	$ 54,534	[2]
Income from continuing operations (in dollars per share)	$ 1.21		$ 0.51
Loss from discontinued operations, net of tax (in dollars per share)	0		0
Net income per share (in dollars per share)	$ 1.21		$ 0.51
Basic weighted average shares outstanding (in shares)	108,206		107,537
Income from continuing operations (in dollars per share)	$ 1.20		$ 0.50
Loss from discontinued operations, net of tax (in dollars per share)	0		0
Net income per share (in dollars per share)	$ 1.20		$ 0.50
Diluted weighted average shares outstanding (in shares)	108,642		108,062
[1]The unaudited pro forma net income for the year ended December 31, 2021 excludes nonrecurring pro forma adjustments directly attributable to the Sasol Acquisition, consisting of a bargain purchase gain of $7.7 million and transaction costs of $1.0 million.[2]The unaudited pro forma net loss for the year ended December 31, 2020 includes nonrecurring pro forma adjustments directly attributable to the Sasol Acquisition, consisting of a bargain purchase gain of $7.7 million and transaction costs of $1.0 million.

Note 5 - Segment Information (D

Note 5 - Segment Information (Details Textual) - USD ($) $ in Millions	3 Months Ended	5 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2022	May 16, 2022
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Exxon [Member] | Oil and Gas [Member]
Concentration Risk, Percentage			68%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Glencore [Member] | CANADA
Concentration Risk, Percentage	32%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Glencore [Member] | Oil and Gas [Member]
Concentration Risk, Percentage		100%	32%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Plains Midstream Canada [Member] | Oil and Gas [Member] | CANADA
Concentration Risk, Percentage	54%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | BP Energy Trading [Member] | Oil and Gas [Member] | CANADA
Concentration Risk, Percentage	14%
Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity				$ 50

Note 5 - Segment Information -

Note 5 - Segment Information - Segment Activity of Continuing Operations (Details) - USD ($) $ in Thousands		1 Months Ended	12 Months Ended
		Dec. 31, 2022	Dec. 31, 2022		Dec. 31, 2021	Dec. 31, 2020
Crude oil, natural gas and natural gas liquids sales		$ 9,841	$ 354,326		$ 199,075	$ 67,176
Production expense			112,661		81,255	37,315
FPSO demobilization			8,867		0	0
Exploration expense			258		1,579	3,588
Depreciation, depletion and amortization			48,143		21,060	9,382
General and administrative expense			10,077		14,766	10,695
Bad debt expense and other			3,082		875	1,165
Total operating costs and expenses			183,088		119,535	92,770
Other operating income (expense), net			38		(440)	(1,669)
Operating income (loss)			171,276		79,100	(27,263)
Derivative instruments gain (loss), net			(37,812)		(22,826)	6,577
Interest income (expense), net			(2,034)		10	155
Other income (expense), net			(8,048)		3,494	129
Total other Income (expense), net			(47,894)		(19,322)	6,861
Income (loss) from continuing operations before income taxes			123,382		59,778	(20,402)
Income tax (benefit) expense			71,420		(22,156)	27,681
Income (loss) from continuing operations			51,962		81,934	(48,083)
Loss from discontinued operations, net of tax			(72)		(98)	(98)
Net income (loss)			51,890		81,836	(48,181)
Consolidated capital expenditures (1)			434,360	[1]	79,221	10,494
Revenues, Total		$ 9,841	354,326		199,075	67,176
Production expense			112,661		81,255	37,315
Exploration expense			258		1,579	3,588
General and administrative expense			10,077		14,766	10,695
Total operating costs and expenses			183,088		119,535	92,770
Other operating expense, net			38		(440)	(1,669)
Derivative instruments loss, net			(37,812)		(22,826)	6,577
Interest income, net			(2,034)		10	155
Other (expense) income, net			(8,048)		3,494	129
Total other income (expense), net			(47,894)		(19,322)	6,861
Income (loss) from continuing operations before income taxes			123,382		59,778	(20,402)
Income (loss) from continuing operations			51,962		81,934	(48,083)
Loss from discontinued operations, net of tax			(72)		(98)	(98)
Net Income (Loss) Attributable to Parent, Total			51,890		81,836	(48,181)
Consolidated capital expenditures (1)			434,360	[1]	79,221	10,494
Impairment of Oil and Gas Properties			0		0	30,625
Corporate, Non-Segment [Member]
Crude oil, natural gas and natural gas liquids sales			0		0	0
Production expense			0		6	16
FPSO demobilization			0
Exploration expense			0		0	0
Depreciation, depletion and amortization			127		88	354
General and administrative expense			6,438		13,144	9,201
Bad debt expense and other			0		0	0
Total operating costs and expenses			6,565		13,238	9,571
Other operating income (expense), net			0		0	0
Operating income (loss)			(6,565)		(13,238)	(9,571)
Derivative instruments gain (loss), net			(37,825)		(22,826)	6,577
Interest income (expense), net			8		10	155
Other income (expense), net			(6,564)		(3,428)	(68)
Total other Income (expense), net			(44,381)		(26,244)	6,664
Income (loss) from continuing operations before income taxes			(50,946)		(39,482)	(2,907)
Income tax (benefit) expense			(3,344)		(34,549)	11,476
Income (loss) from continuing operations			(47,602)		(4,933)	(14,383)
Loss from discontinued operations, net of tax			(72)		(98)	(98)
Net income (loss)			(47,674)		(5,031)	(14,481)
Consolidated capital expenditures (1)			710	[1]	52	(9)
Revenues, Total			0		0	0
Production expense			0		6	16
Exploration expense			0		0	0
General and administrative expense			6,438		13,144	9,201
Total operating costs and expenses			6,565		13,238	9,571
Other operating expense, net			0		0	0
Derivative instruments loss, net			(37,825)		(22,826)	6,577
Interest income, net			8		10	155
Other (expense) income, net			(6,564)		(3,428)	(68)
Total other income (expense), net			(44,381)		(26,244)	6,664
Income (loss) from continuing operations before income taxes			(50,946)		(39,482)	(2,907)
Income (loss) from continuing operations			(47,602)		(4,933)	(14,383)
Loss from discontinued operations, net of tax			(72)		(98)	(98)
Net Income (Loss) Attributable to Parent, Total			(47,674)		(5,031)	(14,481)
Consolidated capital expenditures (1)			710	[1]	52	(9)
Impairment of Oil and Gas Properties						0
Gabon Segment [Member] | Operating Segments [Member]
Crude oil, natural gas and natural gas liquids sales			306,775		199,075	67,176
Production expense			96,854		80,717	37,298
FPSO demobilization			8,867
Exploration expense			258		1,579	3,588
Depreciation, depletion and amortization			34,651		20,972	9,028
General and administrative expense			3,101		1,301	1,064
Bad debt expense and other			2,743		875	1,165
Total operating costs and expenses			146,474		105,444	82,768
Other operating income (expense), net			38		(440)	(1,669)
Operating income (loss)			160,339		93,191	(17,261)
Derivative instruments gain (loss), net			13		0	0
Interest income (expense), net			(1,446)		0	0
Other income (expense), net			(1,484)		6,925	194
Total other Income (expense), net			(2,930)		6,925	194
Income (loss) from continuing operations before income taxes			157,409		100,116	(17,067)
Income tax (benefit) expense			68,509		12,392	16,204
Income (loss) from continuing operations			88,900		87,724	(33,271)
Loss from discontinued operations, net of tax			0		0	0
Net income (loss)			88,900		87,724	(33,271)
Consolidated capital expenditures (1)			162,375	[1]	79,169	10,503
Revenues, Total			306,775		199,075	67,176
Production expense			96,854		80,717	37,298
Exploration expense			258		1,579	3,588
General and administrative expense			3,101		1,301	1,064
Total operating costs and expenses			146,474		105,444	82,768
Other operating expense, net			38		(440)	(1,669)
Derivative instruments loss, net			13		0	0
Interest income, net			(1,446)		0	0
Other (expense) income, net			(1,484)		6,925	194
Total other income (expense), net			(2,930)		6,925	194
Income (loss) from continuing operations before income taxes			157,409		100,116	(17,067)
Income (loss) from continuing operations			88,900		87,724	(33,271)
Loss from discontinued operations, net of tax			0		0	0
Net Income (Loss) Attributable to Parent, Total			88,900		87,724	(33,271)
Consolidated capital expenditures (1)			162,375	[1]	79,169	10,503
Impairment of Oil and Gas Properties						30,625
Egypt [Member] | Operating Segments [Member]
Crude oil, natural gas and natural gas liquids sales			37,710
Production expense			11,936
FPSO demobilization			0
Exploration expense			0
Depreciation, depletion and amortization			10,444
General and administrative expense			0
Bad debt expense and other			0
Total operating costs and expenses			22,380
Other operating income (expense), net			0
Operating income (loss)			15,330
Interest income (expense), net			(596)
Other income (expense), net			0
Total other Income (expense), net			(596)
Income (loss) from continuing operations before income taxes			14,734
Income tax (benefit) expense			6,254
Income (loss) from continuing operations			8,480
Loss from discontinued operations, net of tax			0
Net income (loss)			8,480
Consolidated capital expenditures (1)	[1]		168,012
Revenues, Total			37,710
Production expense			11,936
Exploration expense			0
General and administrative expense			0
Total operating costs and expenses			22,380
Other operating expense, net			0
Interest income, net			(596)
Other (expense) income, net			0
Total other income (expense), net			(596)
Income (loss) from continuing operations before income taxes			14,734
Income (loss) from continuing operations			8,480
Loss from discontinued operations, net of tax			0
Net Income (Loss) Attributable to Parent, Total			8,480
Consolidated capital expenditures (1)	[1]		168,012
Canada [Member] | Operating Segments [Member]
Crude oil, natural gas and natural gas liquids sales			9,841
Production expense			1,972
FPSO demobilization			0
Exploration expense			0
Depreciation, depletion and amortization			2,921
General and administrative expense			0
Bad debt expense and other			0
Total operating costs and expenses			4,893
Other operating income (expense), net			0
Operating income (loss)			4,948
Interest income (expense), net			0
Other income (expense), net			0
Total other Income (expense), net			13
Income (loss) from continuing operations before income taxes			4,961
Income tax (benefit) expense			0
Income (loss) from continuing operations			4,961
Loss from discontinued operations, net of tax			0
Net income (loss)			4,961
Consolidated capital expenditures (1)	[1]		103,263
Revenues, Total			9,841
Production expense			1,972
Exploration expense			0
General and administrative expense			0
Total operating costs and expenses			4,893
Other operating expense, net			0
Interest income, net			0
Other (expense) income, net			0
Total other income (expense), net			13
Income (loss) from continuing operations before income taxes			4,961
Income (loss) from continuing operations			4,961
Loss from discontinued operations, net of tax			0
Net Income (Loss) Attributable to Parent, Total			4,961
Consolidated capital expenditures (1)	[1]		103,263
Equatorial Guinea Segment [Member] | Operating Segments [Member]
Crude oil, natural gas and natural gas liquids sales			0		0	0
Production expense			1,899		532	1
FPSO demobilization			0
Exploration expense			0		0	0
Depreciation, depletion and amortization			0		0	0
General and administrative expense			538		321	430
Bad debt expense and other			339		0	0
Total operating costs and expenses			2,776		853	431
Other operating income (expense), net			0		0	0
Operating income (loss)			(2,776)		(853)	(431)
Derivative instruments gain (loss), net					0	0
Interest income (expense), net			0		0	0
Other income (expense), net			0		(3)	3
Total other Income (expense), net			0		(3)	3
Income (loss) from continuing operations before income taxes			(2,776)		(856)	(428)
Income tax (benefit) expense			1		1	1
Income (loss) from continuing operations			(2,777)		(857)	(429)
Loss from discontinued operations, net of tax			0		0	0
Net income (loss)			(2,777)		(857)	(429)
Consolidated capital expenditures (1)			0	[1]	0	0
Revenues, Total			0		0	0
Production expense			1,899		532	1
Exploration expense			0		0	0
General and administrative expense			538		321	430
Total operating costs and expenses			2,776		853	431
Other operating expense, net			0		0	0
Derivative instruments loss, net					0	0
Interest income, net			0		0	0
Other (expense) income, net			0		(3)	3
Total other income (expense), net			0		(3)	3
Income (loss) from continuing operations before income taxes			(2,776)		(856)	(428)
Income (loss) from continuing operations			(2,777)		(857)	(429)
Loss from discontinued operations, net of tax			0		0	0
Net Income (Loss) Attributable to Parent, Total			(2,777)		(857)	(429)
Consolidated capital expenditures (1)			$ 0	[1]	$ 0	0
Impairment of Oil and Gas Properties						$ 0
[1]Excludes assets acquired in the TransGlobe acquisition.

Note 5 - Segment Information _2

Note 5 - Segment Information - Assets from Continuing Operations (Details) - USD ($) $ in Thousands	Dec. 31, 2022		Dec. 31, 2021	[2]
Long-lived assets from continuing operations	$ 495,272	[1]	$ 94,324
Total assets from continuing operations	855,641	[3]	263,090
Operating Segments [Member] | Gabon Segment [Member]
Long-lived assets from continuing operations	213,204	[1]	84,156
Total assets from continuing operations	395,393	[3]	201,748
Operating Segments [Member] | Egypt [Member]
Long-lived assets from continuing operations	168,012	[1]	0
Total assets from continuing operations	293,640	[3]	0
Operating Segments [Member] | Canada [Member]
Long-lived assets from continuing operations	103,263	[1]	0
Total assets from continuing operations	110,071	[3]	0
Operating Segments [Member] | Equatorial Guinea Segment [Member]
Long-lived assets from continuing operations	10,000	[1]	10,000
Total assets from continuing operations	10,861	[3]	10,548
Corporate, Non-Segment [Member]
Long-lived assets from continuing operations	793	[1]	168
Total assets from continuing operations	$ 45,676	[3]	$ 50,794
[1]Includes assets acquired in the TransGlobe acquisition[2]Includes assets acquired in the Sasol acquisition[3]Includes assets acquired in the TransGlobe acquisition

Note 6 - Earnings Per Share - R

Note 6 - Earnings Per Share - Reconciliation of Basic and Diluted EPS and Shares (Details) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income (loss) from continuing operations	$ 51,962	$ 81,934	$ (48,083)
Income from continuing operations attributable to unvested shares	(594)	(1,336)	0
Numerator for basic	(51,368)	(80,598)	48,083
Loss from continuing operations attributable to unvested shares	3	0	0
Numerator for dilutive	51,371	80,598	(48,083)
Loss from discontinued operations, net of tax	(72)	(98)	(98)
Loss from discontinued operations attributable to unvested shares	1	2	0
Numerator for basic	(71)	(96)	(98)
(Income) loss from discontinued operations attributable to unvested shares	0	0	0
Numerator for dilutive	(71)	(96)	(98)
Net income (loss)	51,890	81,836	(48,181)
Net income attributable to unvested shares	(593)	(1,334)	0
Numerator for basic	51,297	80,502	(48,181)
Net (income) loss attributable to unvested shares	3	0	0
Numerator for dilutive	$ 51,300	$ 80,502	$ (48,181)
Basic weighted average shares outstanding (in shares)	69,568	58,230	57,594
Effect of dilutive securities (in shares)	414	525	0
Diluted weighted average shares outstanding (in shares)	69,982	58,755	57,594
Stock options and unvested restricted stock grants excluded from dilutive calculation because they would be anti-dilutive (in shares)	189	169	3,545

Note 7 - Revenue (Details Textu

Note 7 - Revenue (Details Textual) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jun. 20, 2026
Income Taxes Paid in Kind with Oil		$ 26,257	$ 20,103	$ 8,738
Taxes Payable, Current, Total	$ 0	$ 0	3,128
Recovery Cost Assigned, Percent		100%
Minimum [Member]
Recovery Cost Assigned, Percent		5%
Cost of Oil, Percent		25%
Allocation of Profit, Percent		67%
Maximum [Member]
Recovery Cost Assigned, Percent		15%
Cost of Oil, Percent		40%
Allocation of Profit, Percent		84%
Egyptian General Petroleum Corporation (EGPC), Merged Concession Agreement [Member]
Ownership Percentage	50%	50%
Egyptian General Petroleum Corporation (EGPC), South Ghazalat Concession Agreement [Member]
Ownership Percentage	50%	50%
Production Sharing Contract, September 17, 2018 Through September 16, 2028 [Member] | Foreign Tax Authority [Member] | Tax Administration of Gabon [Member]
Income Taxes Paid in Kind with Oil	$ 26,300
Income Taxes Receivable	$ 2,800	$ 2,800
Taxes Payable, Current, Total			$ 3,100
Production Sharing Contract, September 17, 2018 Through September 16, 2028 [Member] | Vaalco Energy Inc. and Other Etame Marin Block Owners [Member]
Working Interest Ownership, Percentage	7.50%	7.50%
Production Sharing Contract, September 17, 2018 Through September 16, 2028 [Member] | Vaalco Energy Inc. and Other Etame Marin Block Owners [Member] | Forecast [Member]
Working Interest Ownership, Percentage					10%
Production Sharing Contract, September 17, 2018 Through September 16, 2028 [Member] | Government of Gabon [Member]
Monthly Royalty Rate, Based on Production at the Published Price	13%	13%

Note 7 - Revenue - Revenues fro

Note 7 - Revenue - Revenues from Contracts with Customers and Other Items Not Associated with Customer Contracts (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other items reported in revenue not associated with customer contracts	$ 34
Royalties	(1,137)
Crude oil and natural gas sales	9,841		$ 354,326	$ 199,075	$ 67,176
Royalties	(1,137)
Crude oil, natural gas and natural gas liquids sales	9,841		354,326	199,075	67,176
Other revenue	34
Crude Oil [Member]
Gross sales	7,362
Revenue	7,362
Gas [Member]
Gross sales	1,340
Revenue	1,340
Crude Oil Sales and Purchase Agreements [Member]
Sales under the COSPA or COSMA			320,522	200,321	67,041
Revenue			320,522	200,321	67,041
Natural Gas Liquids [Member]
Sales under the COSPA or COSMA	2,235
Revenue	2,235
Gabonese Government Share of Profit Oil [Member]
Other items reported in revenue not associated with customer contracts			26,257	20,103	8,738
Other revenue			26,257	20,103	8,738
Oil and Condensate [Member]
Gross sales	7
Revenue	$ 7
Carried Interest Recoupment [Member]
Other items reported in revenue not associated with customer contracts			5,843	7,517	1,631
Other revenue			5,843	7,517	1,631
Oil and Gas [Member]
Royalties			(45,847)	(28,866)	(10,234)
Crude oil and natural gas sales			306,775	199,075	67,176
Royalties			(45,847)	(28,866)	(10,234)
Crude oil, natural gas and natural gas liquids sales			$ 306,775	$ 199,075	$ 67,176
EGYPT
Royalties		$ (18,742)
Crude oil and natural gas sales		37,710
Gross sales		56,452
Royalties		(18,742)
Crude oil, natural gas and natural gas liquids sales		37,710
Revenue		$ 56,452

Note 8 - Income Taxes (Details

Note 8 - Income Taxes (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred Tax Assets, Gross, Total	$ 99,617	$ 86,927
Deferred Tax Assets, Valuation Allowance	47,583	46,949
Unrecognized Tax Benefits, Ending Balance	0	0
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total	$ 0	$ 0

Note 8 - Income Taxes - Provisi

Note 8 - Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current	$ 0	$ 0	$ (337)
Deferred	(3,344)	(34,548)	11,814
Current	26,615	20,282	3,859
Deferred	48,149	(7,890)	12,345
Total income tax expense (benefit)	$ 71,420	$ (22,156)	$ 27,681

Note 8 - Income Taxes - Deferre

Note 8 - Income Taxes - Deferred Tax Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Basis difference in fixed assets	$ 9,299	$ 20,133
Foreign tax credit carryforward	14,848	20,084
Net operating losses	48,981	25,182
Foreign deferred tax assets, net of impact on U.S. taxes	0	8,693
Asset retirement obligations	8,531	8,546
Operating lease liabilities	10,753	1,750
Basis difference in accrued liabilities	3,800	402
Basis difference in receivables	2,783	454
Other	622	1,683
Total deferred tax assets	99,617	86,927
Valuation allowance	(47,583)	(46,949)
Net deferred tax assets	52,034	39,978
Basis difference in fixed assets	(97,825)	0
Net deferred tax liabilities	$ (97,825)	$ 0

Note 8 - Income Taxes - Operati

Note 8 - Income Taxes - Operating Loss Carryforwards (Details) $ in Thousands	Dec. 31, 2022 USD ($)
UNITED STATES
Net operating losses	$ 45,498
GABON
Net operating losses	37,983
EGYPT
Net operating losses	14,558
CANADA
Net operating losses	$ 130,542

Note 8 - Income Taxes - Income

Note 8 - Income Taxes - Income (Loss) From Continuing Operations Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
U.S.	$ (56,750)	$ (38,867)	$ (2,908)
Foreign	180,132	98,645	(17,494)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	$ 123,382	$ 59,778	$ (20,402)

Note 8 - Income Taxes - Reconci

Note 8 - Income Taxes - Reconciliation of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Tax provision computed at U.S. statutory rate	$ 25,910	$ 12,553	$ (4,284)
Foreign taxes not offset in U.S. by foreign tax credits	53,851	35,306	(9,801)
Permanent differences	778	(703)	97
Foreign tax credit expirations	17,247	14,060	0
Increase/(decrease) in valuation allowance	(25,623)	(83,372)	41,635
Other	(743)	0	34
Total income tax expense (benefit)	$ 71,420	$ (22,156)	$ 27,681

Note 8 - Income Taxes - Tax Yea

Note 8 - Income Taxes - Tax Years Subject to Examination (Details)	12 Months Ended
	Dec. 31, 2022
Domestic Tax Authority [Member] | UNITED STATES | Minimum [Member]
Jurisdiction	2014
Domestic Tax Authority [Member] | UNITED STATES | Maximum [Member]
Jurisdiction	2022
Foreign Tax Authority [Member] | GABON | Minimum [Member]
Jurisdiction	2018
Foreign Tax Authority [Member] | GABON | Maximum [Member]
Jurisdiction	2022
Foreign Tax Authority [Member] | EGYPT | Minimum [Member]
Jurisdiction	2017
Foreign Tax Authority [Member] | EGYPT | Maximum [Member]
Jurisdiction	2022
Foreign Tax Authority [Member] | CANADA | Minimum [Member]
Jurisdiction	2018
Foreign Tax Authority [Member] | CANADA | Maximum [Member]
Jurisdiction	2022

Note 9 - Crude Oil and Natura_3

Note 9 - Crude Oil and Natural Gas Properties and Equipment (Details Textual) $ in Thousands

1 Months Ended

3 Months Ended

12 Months Ended

24 Months Ended

Jun. 20, 2026

Feb. 25, 2021 USD ($)

Sep. 26, 2018 USD ($)

Sep. 25, 2018

Feb. 28, 2023 USD ($)

Sep. 30, 2020 USD ($)

Mar. 31, 2020 USD ($)

Dec. 31, 2022 USD ($)

Dec. 31, 2021 USD ($)

Dec. 31, 2020 USD ($)

Dec. 31, 2020

Sep. 16, 2028

Apr. 30, 2021

Apr. 12, 2021

Feb. 24, 2021

Sep. 17, 2018 USD ($)

Dec. 31, 2012

Increase (Decrease) in Value Added Tax Receivable

$ 5,193

$ 1,593

$ 1,268

Impairment of Oil and Gas Properties

0

0

$ 30,625

Property, Plant and Equipment, Net, Total

495,272

94,324

Deferred Tax Assets, Property, Plant and Equipment

9,299

$ 20,133

Block P Offshore Equatorial Guinea [Member]

Business Acquisition, Percentage of Voting Interests Acquired

31%

Additional Ownership Interest Acquired

12%

Asset Acquisition, Percent Interest Acquired

43%

Asset Acquisition, Contingent Consideration Arrangements, Range of Outcomes, Value, High

$ 3,100

Etame Marine Block [Member]

Working Interest Ownership, Percentage

58.80%

31.10%

Unproved Oil and Gas Property, Successful Effort Method

$ 2,200

TransGlobe [Member]

Undeveloped Leasehold Value

$ 30,200

Etame Marine Block [Member]

Increase (Decrease) in Working Interest Ownership Percentage

27.80%

Impairment of Oil and Gas Properties

$ 30,600

Property, Plant and Equipment, Net, Total

15,600

Production Sharing Contract, September 17, 2018 Through September 16, 2028 [Member]

Estimated Costs of Technical Studies

$ 500

Deferred Tax Assets, Property, Plant and Equipment

$ 18,600

Production Sharing Contract, September 17, 2018 Through September 16, 2028 [Member] | Forecast [Member] | Etame Marine Block [Member]

Increase (Decrease) in Working Interest Ownership Percentage

1.60%

Production Sharing Contract, September 17, 2018 Through September 16, 2028 [Member] | Vaalco Energy Inc. and Other Etame Marin Block Owners [Member]

Period of Agreement for Exploitation Areas (Year)

10 years

Entitled Percent for Consortium After Initial Royalty Percentage

80%

Working Interest Ownership, Percentage

7.50%

Production Sharing Contract, September 17, 2018 Through September 16, 2028 [Member] | Vaalco Energy Inc. and Other Etame Marin Block Owners [Member] | Forecast [Member]

Entitled Percent for Consortium After Initial Royalty Percentage

70%

Working Interest Ownership, Percentage

10%

Production Sharing Contract, September 17, 2018 Through September 16, 2028 [Member] | Vaalco Energy Inc. and Other Etame Marin Block Owners [Member]

Number of Wells Drilled

2

Number of Appraisal Wellbores Drilled

2

Number of Technical Studies Required

2

Estimated Costs of Technical Studies

$ 1,500

Production Sharing Contract, September 17, 2018 Through September 16, 2028 [Member] | Signing Bonus [Member]

Payment of Signing Bonus, Allocated to Proved and Unproved Property

$ 11,800

Increase (Decrease) in Value Added Tax Receivable

8,400

Other Accrued Liabilities, Current

1,700

Capitalized Costs, Unproved Properties

6,700

Production Sharing Contract, September 17, 2018 Through September 16, 2028 [Member] | Signing Bonus [Member] | Vaalco Energy Inc. and Other Etame Marin Block Owners [Member]

Payment of Signing Bonus, Allocated to Proved and Unproved Property

35,000

Increase (Decrease) in Value Added Tax Receivable

25,000

Other Accrued Liabilities, Current

$ 5,000

Production Sharing Contract, September 17, 2018 Through September 16, 2028 [Member] | Tax Effect [Member]

Capitalized Costs, Unproved Properties

7,100

Production Sharing Contract After September 16, 2028 [Member] | Signing Bonus [Member]

Contractual Obligation, Total

21,800

Production Sharing Contract After September 16, 2028 [Member] | Signing Bonus [Member] | Vaalco Energy Inc. and Other Etame Marin Block Owners [Member]

Contractual Obligation, Total

$ 65,000

Etame Marine Block [Member]

Joint Venture Project, Ownership, Percent

63.575%

Unproved Oil and Gas Property, Successful Effort Method

2,300

Undeveloped Leasehold Value

$ 11,500

$ 13,700

Etame Marine Block [Member] | Production Sharing Contract, September 17, 2018 Through September 16, 2028 [Member]

Number of Exploitation Areas

3

Period of Agreement for Exploitation Areas (Year)

10 years

Number of Contract Extension Periods

2

Production License Agreement Term Extended by Government (Year)

5 years

Etame Marine Block [Member] | Production Sharing Contract, September 17, 2018 Through September 16, 2028 [Member] | Forecast [Member]

Increase (Decrease) in Working Interest Ownership Percentage

2.50%

Block P Offshore Equatorial Guinea [Member]

Joint Venture Project, Ownership, Percent

45.90%

Unproved Oil and Gas Property, Successful Effort Method

$ 10,000

Period of Development Area (Year)

25 years

Block P Offshore Equatorial Guinea [Member] | Subsequent Event [Member]

Joint Venture Project, Ownership, Percent

60%

Asset Acquisition, Contingent Consideration Arrangements, Range of Outcomes, Value, High

$ 6,800

Joint Venture Project, Additional Working Interest Percentage

14.10%

Block P Offshore Equatorial Guinea [Member] | Crown Energy [Member]

Working Interest Ownership, Percentage

5%

Note 9 - Crude Oil and Natura_4

Note 9 - Crude Oil and Natural Gas Properties and Equipment - Schedule of Crude Oil and Natural Gas Properties and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Gross crude oil and natural gas properties, equipment and other	$ 1,501,935	$ 549,484
Accumulated depreciation, depletion, amortization and impairment	(1,006,663)	(455,160)
Net crude oil and natural gas properties, equipment and other	495,272	94,324
Wells and Related Equipment and Facilities [Member]
Gross crude oil and natural gas properties, equipment and other	1,406,888	488,756
Construction in Progress [Member]
Gross crude oil and natural gas properties, equipment and other	0	13,515
Undeveloped Acreage [Member]
Gross crude oil and natural gas properties, equipment and other	56,251	23,735
Other Capitalized Property Plant and Equipment [Member]
Gross crude oil and natural gas properties, equipment and other	$ 38,796	$ 23,478

Note 10 - Derivatives and Fai_3

Note 10 - Derivatives and Fair Value (Details Textual)	Sep. 24, 2021 $ / bbl bbl	Aug. 06, 2021 $ / bbl bbl	May 06, 2021 $ / bbl bbl	Jan. 22, 2021 $ / bbl bbl
Commodity Contract February2021 Through January 2022 [Member]
Derivative, Swap Type, Average Fixed Price (in USD per Barrel of Oil) | $ / bbl				53.10
Derivative, Nonmonetary Notional Amount, Volume (Barrel of Oil) | bbl				709,262
Commodity Contract, May 2021 Through October 2021 [Member]
Derivative, Swap Type, Average Fixed Price (in USD per Barrel of Oil) | $ / bbl			66.51
Derivative, Nonmonetary Notional Amount, Volume (Barrel of Oil) | bbl			672,533
Commodity Contract, November 2021 Through February 2022 [Member]
Derivative, Swap Type, Average Fixed Price (in USD per Barrel of Oil) | $ / bbl		67.70
Derivative, Nonmonetary Notional Amount, Volume (Barrel of Oil) | bbl		314,420
Commodity Contract Three [Member]
Derivative, Swap Type, Average Fixed Price (in USD per Barrel of Oil) | $ / bbl	72
Derivative, Nonmonetary Notional Amount, Volume (Barrel of Oil) | bbl	460,000

Note 10 - Derivatives and Fai_4

Note 10 - Derivatives and Fair Value - Unexpired Barrels (Details)		3 Months Ended
	Oct. 26, 2022 $ / item $ / bbl bbl	Sep. 30, 2023 $ / bbl bbl	Jun. 23, 2023 $ / bbl bbl
Commodity Contract, January 2023 to March 2023 [Member]
Barrels (Barrel of Oil) | bbl	101,000
Commodity Contract, January 2023 to March 2023 [Member] | Short [Member]
Weighted average price put price (in USD per Barrel of Oil)	65
Weighted average price put price (in USD per Barrel of Oil)	65
Commodity Contract, January 2023 to March 2023 [Member] | Short [Member] | Forecast [Member]
Barrels (Barrel of Oil) | bbl			95,500
Weighted average price put price (in USD per Barrel of Oil)			65
Weighted average price call price (in USD per Per Share)			100
Weighted average price put price (in USD per Barrel of Oil)			65
Weighted average price call price (in USD per Barrel of Oil)			100
Commodity Contract, January 2023 to March 2023 [Member] | Long [Member]
Weighted average price call price (in USD per Per Share) | $ / item	120
Weighted average price call price (in USD per Barrel of Oil) | $ / item	120
Commodity Contract July 2023 to September 2023 [Member] | Short [Member] | Forecast [Member]
Barrels (Barrel of Oil) | bbl		95,500
Weighted average price put price (in USD per Barrel of Oil)		65
Weighted average price call price (in USD per Per Share)		96
Weighted average price put price (in USD per Barrel of Oil)		65
Weighted average price call price (in USD per Barrel of Oil)		96

Note 10 - Derivatives and Fai_5

Note 10 - Derivatives and Fair Value - Gain Loss on Derivative Instruments (Details) - Crude Oil Swaps [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative instruments loss, net	$ (37,812)	$ (22,826)	$ 6,577
Cash Settlements Paid on Matured Derivative Contracts, Net [Member]
Derivative instruments loss, net	(42,935)	(18,020)	7,216
Unrealized Gain (Loss) [Member]
Derivative instruments loss, net	$ 5,123	$ (4,806)	$ (639)

Note 11 - Asset Retirement Ob_3

Note 11 - Asset Retirement Obligations (Details Textual) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Oct. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Asset Retirement Obligation, Liabilities Incurred	$ 6,100	$ 6,134	$ 14,564
Asset Retirement Obligation, Liabilities Settled	6,600	6,577	0
Asset Retirement Obligation, Revision of Estimate		(43)	7,169
Costs Associated With Retirement Obligation, Included In Accrued Liabilities		300	$ 6,700
EGYPT
Decommissioning Liability, Noncurrent	$ 0	$ 0

Note 11 - Asset Retirement Ob_4

Note 11 - Asset Retirement Obligations - Changes in Asset Retirement Obligations (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Oct. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Beginning balance		$ 40,694	$ 17,334
Accretion		1,958	1,627
Additions	$ 6,100	6,134	14,564
Revisions		(43)	7,169
Settlements	$ (6,600)	(6,577)	0
Foreign currency gain (loss)		(165)
Ending balance		$ 42,001	$ 40,694

Note 12 - Commitments and Con_3

Note 12 - Commitments and Contingencies (Details Textual)							1 Months Ended		3 Months Ended		12 Months Ended					36 Months Ended
	Feb. 14, 2023	Nov. 01, 2022 USD ($)	Aug. 20, 2022 USD ($)	Feb. 01, 2022 USD ($)	Jan. 20, 2022 USD ($)	Sep. 30, 2020	Jun. 30, 2021	Aug. 31, 2020 USD ($) km²	Mar. 31, 2023 $ / shares	Dec. 31, 2022 USD ($) bbl	Dec. 31, 2022 USD ($) bbl	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2016	Dec. 31, 2021 USD ($)	Feb. 01, 2026 USD ($)	Feb. 01, 2025 USD ($)	Feb. 01, 2024 USD ($)	Oct. 13, 2022 USD ($)	Jan. 19, 2022 USD ($)	Nov. 30, 2021 USD ($)	Nov. 03, 2021 $ / shares	Aug. 31, 2021 USD ($)	Mar. 31, 2021 $ / shares
Abandonment Funding										$ 20,586,000	$ 20,586,000	$ 21,808,000				$ 21,808,000
Foreign Currency Transaction Gain (Loss), before Tax, Total											(4,200,000)	(700,000)	$ (200,000)
Other Demobilization Fees, Net											8,867,000	0	0
Dividends Payable, Amount Per Share (in dollars per share) | $ / shares																							$ 0.1300		$ 0.0325
Increase (Decrease) in Other Receivables											9,290,000	9,736,000	(1,405,000)
Borr Drilling Limited [Member]
Number of Drilled Wells Required by Agreement							3
Egyptian General Petroleum Corporation (EGPC) [Member]
Contractual Obligation, Total										150,000,000	150,000,000
Increase (Decrease) in Other Receivables											$ (10,000,000)
Development Timeframe (Year)											5 years
Egyptian General Petroleum Corporation (EGPC) [Member] | Minimum [Member]
Contractual Obligation, Total										50,000,000	$ 50,000,000
Share Buyback Program [Member]
Stock Repurchase Program, Authorized Amount		$ 30,000,000
Stock Repurchase Program, Period in Force (Month)		20 months
Subsequent Event [Member]
Dividends Payable, Amount Per Share (in dollars per share) | $ / shares									$ 0.0625
Dividends Payable, Date Declared	Feb. 14, 2023
Dividends Payable, Date to be Paid									Mar. 31, 2023
Etame Marine Block [Member]
Contractual Obligation, to be Paid, Year One										3,200,000	3,200,000													$ 1,200,000
Estimated Field Level Capital Conversion										122,000,000	122,000,000
Area of Dimensional Seismic Data (Square Kilometre) | km²								1,000
Etame Marine Block [Member] | Minimum [Member]
Expected Cost of Data Acquisition								$ 2,200,000
Etame Marine Block [Member] | Maximum [Member]
Expected Cost of Data Acquisition								$ 3,400,000
Parent Company [Member]
Contractual Obligation, Total										35,500,000	35,500,000
Parent Company [Member] | Accrued Liabilities and Other [Member]
Contractual Obligation, to be Paid, Year One										9,900,000	9,900,000
Parent Company [Member] | Other Long-term Liabilities [Member]
Contractual Obligation, Total										25,600,000	25,600,000
TransGlobe [Member]
Other Receivables										50,300,000	50,300,000									$ 67,500,000	$ 67,500,000
Proceeds from Collection of Other Receivables										$ 17,200,000	$ 17,200,000
Foreign Tax Authority [Member] | Tax Administration of Gabon [Member]
Income Tax Examination, Year under Examination															2013 2014	2015 2016
FPSO Charter [Member]
Number of Charter Extension Periods						2
Charter Day Rates			$ 150,000
Other Demobilization Fees, Gross			15,300,000
Other Demobilization Fees, Net			$ 8,900,000
Percentage of Share in Charter Payment										58.80%	58.80%
Share in Charter Payment, Approximate Annual Amount										$ 19,400,000	$ 19,400,000
Guarantor Obligations, Current Carrying Value												400,000				$ 400,000
Charter Fee Per Barrel for Production Level One										1.16	1.16
Charter Fee Amount Threshold, Volume (Barrel of Oil) | bbl										20,000	20,000
Charter Fee Per Barrel for Production Level Two										3.13	3.13
Charter Expenses											$ 22,400,000	22,100,000	$ 13,100,000
Period of Charter (Year)						1 year
Etame Marine Block [Member]
Estimated Abandonment Costs																						$ 47,800,000
Abandonment Funding										$ 20,600,000	20,600,000
Foreign Currency Transaction Gain (Loss), before Tax, Total											(1,200,000)	$ (1,600,000)
Payment of Joint Venture Audit Settlement														$ 800,000
Contractual Obligation, Paid										5,000,000	5,000,000													$ 2,000,000
Contractual Obligations, Amount Recoverable										6,000,000	6,000,000
Estimated Field Level Capital Conversion										77,000,000	77,000,000
Etame Marine Block [Member]
Estimated Abandonment Costs																						$ 81,300,000
Abandonment Funding										$ 35,000,000	$ 35,000,000
Egyptian General Petroleum Corporation (EGPC) [Member] | Merged Concession Agreement [Member]
Payments for Merger Related Costs, First Modernization Payment					$ 15,000,000
Payments for Merger Related Costs, Signature Bonus					$ 1,000,000
Payments for Merger Related Costs, Second Modernization Payment				$ 10,000,000
Number of Annual Payments (Year)				3 years
Egyptian General Petroleum Corporation (EGPC) [Member] | Merged Concession Agreement [Member] | Forecast [Member]
Contractual Obligation, Total																	$ 10,000,000	$ 10,000,000	$ 10,000,000

Note 12 - Commitments and Con_4

Note 12 - Commitments and Contingencies - Schedule of Dividends Per Common Share (Details) - $ / shares	Nov. 03, 2021	Mar. 31, 2021
Amount per common shares (in dollars per share)	$ 0.1300	$ 0.0325
Dividend Paid, March 18, 2022 [Member]
Amount per common shares (in dollars per share)	0.0325
Dividend Paid, June 24, 2022 [Member]
Amount per common shares (in dollars per share)	0.0325
Dividend Paid, September 23, 2022 [Member]
Amount per common shares (in dollars per share)	0.0325
Dividend Paid, December 22, 2022 [Member]
Amount per common shares (in dollars per share)	$ 0.0325

Note 12 - Commitments and Con_5

Note 12 - Commitments and Contingencies - Schedule of Equity Securities Repurchased (Details) - USD ($)		1 Months Ended
	Jan. 01, 2023	Mar. 31, 2023	Feb. 28, 2023	Jan. 31, 2023	Dec. 31, 2022	Nov. 30, 2022
Number of Shares Purchased (in shares)					570,921
Shares Purchased, Publicly Announced Programs (in shares)					570,921
Shares Purchased as Part of Publicly Announced Programs [Member]
Number of Shares Purchased (in shares)					570,921
Shares Purchased, Publicly Announced Programs (in shares)					570,921
Shares Purchased as Part of Publicly Announced Programs [Member] | Subsequent Event [Member]
Number of Shares Purchased (in shares)		981,000
Shares Purchased, Publicly Announced Programs (in shares)		981,000
Share Repurchase Program [Member]
Number of Shares Purchased (in shares)					570,921
Shares Purchased, Publicly Announced Programs (in shares)					570,921
Common Stock [Member]
Number of Shares Purchased (in shares)					282,163	288,758
Average Price Paid per Share (in dollars per share)					$ 5.34	$ 5.21
Shares Purchased, Publicly Announced Programs (in shares)					282,163	288,758
Authorized Amount					$ 27,000,767	$ 28,500,463
Average Price Paid per Share (in dollars per share)					$ 5.34	$ 5.21
Stock Repurchase Program, Authorized Amount					$ 27,000,767	$ 28,500,463
Common Stock [Member] | Shares Purchased as Part of Publicly Announced Programs [Member]
Number of Shares Purchased (in shares)					282,163	288,758
Average Price Paid per Share (in dollars per share)					$ 5.34	$ 5.21
Shares Purchased, Publicly Announced Programs (in shares)					282,163	288,758
Authorized Amount					$ 27,000,767	$ 28,500,463
Average Price Paid per Share (in dollars per share)					$ 5.34	$ 5.21
Stock Repurchase Program, Authorized Amount					$ 27,000,767	$ 28,500,463
Common Stock [Member] | Shares Purchased as Part of Publicly Announced Programs [Member] | Subsequent Event [Member]
Number of Shares Purchased (in shares)	350,832	303,176	326,992	350,832
Average Price Paid per Share (in dollars per share)		$ 4.97	$ 4.61	$ 4.29
Shares Purchased, Publicly Announced Programs (in shares)	350,832	303,176	326,992	350,832
Authorized Amount	$ 25,502,669	$ 22,503,206	$ 24,003,172
Average Price Paid per Share (in dollars per share)		$ 4.97	$ 4.61	$ 4.29
Stock Repurchase Program, Authorized Amount	$ 25,502,669	$ 22,503,206	$ 24,003,172

Note 13 - Debt (Details Textual

Note 13 - Debt (Details Textual) $ in Thousands, $ in Millions			1 Months Ended
	May 16, 2025	May 16, 2022 USD ($)	Oct. 31, 2022 CAD ($)	Dec. 31, 2022 USD ($)	Dec. 19, 2022 USD ($)	Dec. 13, 2022 USD ($)
Long-Term Debt, Total				$ 0		$ 0
Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 50,000
The Facility [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity		50,000
Line of Credit Facility, Maximum Optional Increase in Maximum Borrowing Capacity		50,000
Line of Credit Facility, Additional Commitment in Maximum Borrowing Capacity, Yearly Decrease		$ 6,250
Line of Credit Facility, Commitment Fee Percentage, Commitments or Borrowing Base Exceeds Outstanding Utilizations		35%
Line of Credit Facility, Commitment Fee Percentage, Total Commitments Exceeds Borrowing Base		20%
Debt Instrument, Covenant, Maximum Total Net Debt to EBITDA		3
Debt Instrument, Covenant, Minimum Cash and Cash Equivalents		$ 10,000
Line of Credit Facility, Current Borrowing Capacity				50,000
Long-Term Line of Credit, Total				0
Debt Issuance Costs, Net, Total		1,900
Debt Issuance Costs, Gross		2,100
Amortization of Debt Issuance Costs		$ 200
The Facility [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		6%
The Facility [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Forecast [Member]
Debt Instrument, Basis Spread on Variable Rate	6.25%
ATB Financial [Member] | TransGlobe [Member]
Long-Term Line of Credit, Total					$ 0
ATB Financial [Member] | TransGlobe [Member]
Repayments of Long-Term Lines of Credit			$ 4.1
Glencore [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity				$ 50,000

Note 14 - Leases (Details Textu

Note 14 - Leases (Details Textual) $ in Millions	Dec. 31, 2022 USD ($)
Oil and Gas Joint Interest Billing Receivables	$ 44.6
Lessee, Operating And Finance Lease Liability, Payments Due	$ 108.1
Minimum [Member]
Lessee, Operating Lease, Term of Contract (Month)	6 months
Lessee, Finance Lease, Remaining Lease Term (Month)	10 months
Maximum [Member]
Lessee, Operating Lease, Term of Contract (Month)	27 months
Lessee, Finance Lease, Remaining Lease Term (Month)	117 months

Note 14 - Leases - Components o

Note 14 - Leases - Components of Lease Costs and Supplemental Information (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Finance lease cost (1)	[1]	$ 3,682	$ 0	$ 0
Operating lease cost		11,040	17,692	17,528
Short-term lease cost (2)	[2]	5,213	2,258	1,408
Variable lease cost (3)	[3]	4,513	6,188	7,572
Total lease expense		24,448	26,138	26,508
Lease costs capitalized		4,127	232	3,456
Total lease costs		28,575	26,370	29,964
Financing cash flows attributable to finance leases		$ 3,039	$ 0	$ 0
Weighted-average remaining lease term (in years) (Year)		9 years 7 months 24 days
Weighted-average discount rate		4.59%	0%	0%
Operating cash flows attributable to operating leases		$ 19,300	$ 23,925	$ 26,178
Weighted-average remaining lease term (in years) (Year)		1 year 4 months 6 days	10 months 28 days	1 year 9 months 18 days
Weighted-average discount rate		9.91%	5.91%	6.09%
[1]Represents depreciation and interest associated with financing leases.[2]Represents short term leases under contracts that are 1 year or less where a ROU asset and lease liability are not required to be recorded.[3]Variable costs represent differences between minimum lease costs and actual lease costs incurred under lease contracts.

Note 14 - Leases - Lease Cost o

Note 14 - Leases - Lease Cost on the Consolidated Statement of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Total lease expense	$ 25,960	$ 26,223	$ 28,793
Lease costs capitalized	2,615	147	1,171
Total lease costs	28,575	26,370	29,964
Finance Lease Cost [Member]
Total lease expense	2,188	0	0
Production Expense [Member]
Total lease expense	12,222	13,457	7,904
General and Administrative Expense [Member]
Total lease expense	160	193	197
Lease Costs Billed to Joint Venture Owners [Member]
Total lease expense	$ 11,390	$ 12,573	$ 20,692

Note 14 - Leases - Future Matur

Note 14 - Leases - Future Maturities of Lease Liabilities (Details) $ in Thousands	Dec. 31, 2022 USD ($)
2023, operating leases	$ 2,478
2023, finance leases	11,619
2024, operating leases	671
2024, finance leases	11,495
2025, operating leases	33
2025, finance leases	13,495
2026, operating leases	0
2026, finance leases	13,893
2027, operating leases	0
2027, finance leases	12,350
Thereafter, operating leases	0
Thereafter, finance leases	42,097
Total due, operating leases	3,182
Total due, finance leases	104,949
Less: imputed interest, operating leases	182
Less: imputed interest, finance leases	18,890
Total lease liabilities, operating leases	3,000
Total lease liabilities, finance leases	$ 86,059

Note 15 - Accrued Liabilities_3

Note 15 - Accrued Liabilities and Other - Schedule of Accrued Liabilities and Other Balances (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Accrued accounts payable invoices	$ 28,360	$ 11,967
Gabon DMO, PID and PIH obligations	10,509	9,465
Capital expenditures	26,618	11,327
Stock appreciation rights – current portion	570	609
Accrued wages and other compensation	8,161	2,124
ARO Obligation	306	6,745
Egypt Modernization Payments	9,933	0
Other	6,935	2,401
Total accrued liabilities and other	91,392	49,444
Accrued Liabilities and Other [Member]
Derivative liability - crude oil swaps	$ 0	$ 4,806

Note 16 - Shareholders' Equit_2

Note 16 - Shareholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Millions	Nov. 01, 2022	Oct. 13, 2022	Dec. 31, 2022	Oct. 12, 2022	Dec. 31, 2021
Common Stock, Shares Authorized (in shares)		160,000,000	160,000,000	100,000,000	100,000,000
Preferred Stock, Shares Authorized (in shares)			500,000		500,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share)			$ 25		$ 25
Preferred Stock, Shares Issued (in shares)			0		0
Preferred Stock, Shares Outstanding, Ending Balance (in shares)			0		0
Stock Repurchase Program 2019 [Member]
Stock Repurchase Program, Authorized Amount	$ 30
Stock Repurchase Program, Period in Force (Month)	20 months
TransGlobe [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares)		49,300,000

Note 16 - Shareholders' Equit_3

Note 16 - Shareholders' Equity - Schedule of Equity Securities Repurchased (Details) - USD ($)	1 Months Ended
	Dec. 31, 2022	Nov. 30, 2022
Number of Shares Purchased (in shares)	570,921
Shares Purchased, Publicly Announced Programs (in shares)	570,921
Shares Purchased as Part of Publicly Announced Programs [Member]
Number of Shares Purchased (in shares)	570,921
Shares Purchased, Publicly Announced Programs (in shares)	570,921
Common Stock [Member]
Number of Shares Purchased (in shares)	282,163	288,758
Average Price Paid per Share (in dollars per share)	$ 5.34	$ 5.21
Shares Purchased, Publicly Announced Programs (in shares)	282,163	288,758
Authorized Amount	$ 27,000,767	$ 28,500,463
Common Stock [Member] | Shares Purchased as Part of Publicly Announced Programs [Member]
Number of Shares Purchased (in shares)	282,163	288,758
Average Price Paid per Share (in dollars per share)	$ 5.34	$ 5.21
Shares Purchased, Publicly Announced Programs (in shares)	282,163	288,758
Authorized Amount	$ 27,000,767	$ 28,500,463

Note 17 - Stock-based Compens_3

Note 17 - Stock-based Compensation and Other Benefit Plans (Details Textual) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended			3 Months Ended	12 Months Ended
	Oct. 13, 2022	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jun. 25, 2020
Proceeds from Stock Options Exercised						$ 300	$ 1,400	$ 100
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)			241,358
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)			$ 6.41
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period, Intrinsic Value						$ 1,200	1,600	43,000
Severance Cost as Percentage of Target Bonus					75%	75%
Defined Contribution Plan, Cost						$ 400	300	400
Maximum [Member]
Severance Cost as Percentage of Salary						100%
Minimum [Member]
Severance Cost as Percentage of Salary						50%
TransGlobe [Member]
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	$ 6,000
Share-based Compensation Arrangement by Share-based Payment Award, Revalued Equity Awards, Gain (Loss)	600
Awards Granted, 2022 [Member] | TransGlobe [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Revalued Equity Awards, Gain (Loss)	$ 600
Stock Appreciation Rights (SARs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Share-Based Liabilities Paid						$ 800	3,300	300
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period, Intrinsic Value						$ 800	$ 800	800
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)						0	0
Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)						3 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year)			10 years
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total					$ 0	$ 0
Share-Based Payment Arrangement, Shares Withheld for Tax Withholding Obligation (in shares)						49,063	464,671
Share-Based Payment Arrangement, Option [Member] | Share-Based Payment Arrangement, Tranche One [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)			1 year
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage			33.33%
Share-based Compensation Arrangement By Share-based Payment Award, Award Vesting Rights, Minimum Share Price Over 30 Day Period (in dollars per share)			$ 7.37
Share-Based Payment Arrangement, Option [Member] | Share-Based Payment Arrangement, Tranche Two [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)			2 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage			33.33%
Share-based Compensation Arrangement By Share-based Payment Award, Award Vesting Rights, Minimum Share Price Over 30 Day Period (in dollars per share)			$ 8.48
Share-Based Payment Arrangement, Option [Member] | Share-Based Payment Arrangement, Tranche Three [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)			3 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage			33.33%
Share-based Compensation Arrangement By Share-based Payment Award, Award Vesting Rights, Minimum Share Price Over 30 Day Period (in dollars per share)			$ 9.75
Performance Shares [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period, Intrinsic Value						$ 200
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total					400	$ 400
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)						2 years
Share-Based Payment Arrangement, Shares Withheld for Tax Withholding Obligation (in shares)						0
Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)							3 years
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total					$ 1,300	$ 1,300
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)						1 year 4 months 24 days
Share-Based Payment Arrangement, Shares Withheld for Tax Withholding Obligation (in shares)						69,135	68,134
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)						384,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)						$ 6.56
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value						$ 2,400	$ 1,800	$ 200
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value (in dollars per share)						$ 2.25	$ 1.28	$ 1.35
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares)						334,000
Restricted Stock [Member] | Share-Based Payment Arrangement, Employee [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		30,687	353,424
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)		$ 8.31	$ 6.41
Performance Share Units (PSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)					3 years
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total					$ 700	$ 700
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)						1 year 1 month 6 days
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Target Percentage						64.40%
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares)					0
Performance Share Units (PSUs) [Member] | Awards Granted, 2021 and 2020 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Target Percentage						200%	200%
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)						3 years
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total					$ 500	$ 500
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)						1 year 8 months 12 days
Share-Based Payment Arrangement, Shares Withheld for Tax Withholding Obligation (in shares)						1,381
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value						$ 14
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value (in dollars per share)						$ 4.27
The 2020 Long-Term Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares)									5,500,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized (in shares)				3,750,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares)					3,870,496	3,870,496

Note 17 - Stock-based Compens_4

Note 17 - Stock-based Compensation and Other Benefit Plans - Stock-based Compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Total stock-based compensation	$ 2,200	$ 2,459	$ 114
Equity Awards [Member]
Total stock-based compensation	2,045	1,060	848
Liability Awards [Member]
Total stock-based compensation	$ 155	$ 1,399	$ (734)

Note 17 - Stock-based Compens_5

Note 17 - Stock-based Compensation and Other Benefit Plans - Weighted Average Assumptions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Weighted average exercise price - ($/share) (in dollars per share)	$ 6.41	$ 3.14	$ 1.23
Expected life in years (Year)	6 years	6 years	6 years
Average expected volatility	72%	75%	74%
Risk-free interest rate	1.98%	0.95%	0.42%
Expected dividend yield	2.30%	0%	0%
Weighted average grant date fair value - ($/share) (in dollars per share)	$ 2.84	$ 2.07	$ 0.79

Note 17 - Stock-based Compens_6

Note 17 - Stock-based Compensation and Other Benefit Plans - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2022
Granted, number of shares (in shares)	241,358
Granted, weighted average exercise price (in dollars per share)	$ 6.41
Monte Carle Model [Member]
Outstanding, number of shares (in shares)		359
Outstanding, weighted average exercise price (in dollars per share)		$ 1.96
Granted, number of shares (in shares)		241
Granted, weighted average exercise price (in dollars per share)		$ 6.41
Exercised, number of shares (in shares)		(47)
Exercised, weighted average exercise price (in dollars per share)		$ (1.23)
Unvested shares forfeited, number of shares (in shares)		(109)
Unvested shares forfeited, weighted average exercise price (in dollars per share)		$ (4.03)
Vested shares expired, number of shares (in shares)		0
Vested shares expired, weighted average exercise price (in dollars per share)		$ 0
Outstanding, number of shares (in shares)		444
Outstanding, weighted average exercise price (in dollars per share)		$ 3.95
Outstanding, weighted average remaining contractual term (Year)		7 years 1 month 24 days
Outstanding, aggregate intrinsic value		$ 632
Exercisable, number of shares (in shares)		147
Exercisable, weighted average exercise price (in dollars per share)		$ 1.83
Exercisable, weighted average remaining contractual term (Year)		3 years 11 months 1 day
Exercisable, aggregate intrinsic value		$ 400
Unvested shares forfeited, weighted average exercise price (in dollars per share)		$ 4.03
Black-scholes Model [Member]
Outstanding, number of shares (in shares)		615
Outstanding, weighted average exercise price (in dollars per share)		$ 1.58
Granted, number of shares (in shares)		0
Granted, weighted average exercise price (in dollars per share)		$ 0
Exercised, number of shares (in shares)		(228)
Exercised, weighted average exercise price (in dollars per share)		$ (1.12)
Unvested shares forfeited, number of shares (in shares)		0
Unvested shares forfeited, weighted average exercise price (in dollars per share)		$ 0
Vested shares expired, number of shares (in shares)		0
Vested shares expired, weighted average exercise price (in dollars per share)		$ 0
Outstanding, number of shares (in shares)		387
Outstanding, weighted average exercise price (in dollars per share)		$ 1.86
Outstanding, weighted average remaining contractual term (Year)		9 months 29 days
Outstanding, aggregate intrinsic value		$ 1,045
Exercisable, number of shares (in shares)		387
Exercisable, weighted average exercise price (in dollars per share)		$ 1.86
Exercisable, weighted average remaining contractual term (Year)		9 months 29 days
Exercisable, aggregate intrinsic value		$ 1,045
Unvested shares forfeited, weighted average exercise price (in dollars per share)		$ 0

Note 17 - Stock-based Compens_7

Note 17 - Stock-based Compensation and Other Benefit Plans - Summary of Activity for Restricted Shares (Details) - Restricted Stock [Member] - $ / shares shares in Thousands	1 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Non-vested shares outstanding (in shares)		741
Non-vested shares outstanding, weighted average grant date fair value (in dollars per share)		$ 2.36
Awards granted (in shares)		384
Awards granted, weighted average grant date fair value (in dollars per share)		$ 6.56
Awards vested (in shares)		(334)
Awards vested, weighted average grant date fair value (in dollars per share)		$ 2.25	$ 1.28	$ 1.35
Awards forfeited (in shares)		(126)
Awards forfeited, weighted average grant date fair value (in dollars per share)		$ 3.68
Non-vested shares outstanding (in shares)	665	665	741
Non-vested shares outstanding, weighted average grant date fair value (in dollars per share)	$ 4.59	$ 4.59	$ 2.36
The 2020 Plan [Member]
Non-vested shares outstanding (in shares)	0
Non-vested shares outstanding, weighted average grant date fair value (in dollars per share)	$ 0
Awards vested (in shares)	(3)
Awards vested, weighted average grant date fair value (in dollars per share)	$ 4.27
Awards forfeited (in shares)	0
Awards forfeited, weighted average grant date fair value (in dollars per share)	$ 0
Non-vested shares outstanding (in shares)	383	383
Non-vested shares outstanding, weighted average grant date fair value (in dollars per share)	$ 4.27	$ 4.27
Awards converted (in shares)	386
Awards converted (in dollars per share)	$ 4.27

Note 17 - Stock-based Compens_8

Note 17 - Stock-based Compensation and Other Benefit Plans - Summary of Activity for Performance Shares (Details) - Performance Shares [Member] - The 2020 Plan [Member] shares in Thousands	1 Months Ended
	Dec. 31, 2022 $ / shares shares
Non-vested shares outstanding (in shares) | shares	0
Non-vested shares outstanding, weighted average grant date fair value (in dollars per share) | $ / shares	$ 0
Awards converted (in shares) | shares	690
Awards converted (in dollars per share) | $ / shares	$ 4.27
Awards vested (in shares) | shares	0
Awards vested, weighted average grant date fair value (in dollars per share) | $ / shares	$ 0
Awards forfeited (in shares) | shares	0
Awards forfeited, weighted average grant date fair value (in dollars per share) | $ / shares	$ 0
Non-vested shares outstanding (in shares) | shares	690
Non-vested shares outstanding, weighted average grant date fair value (in dollars per share) | $ / shares	$ 4.27

Note 17 - Stock-based Compens_9

Note 17 - Stock-based Compensation and Other Benefit Plans - Summary of Activity for Deferred Shares Units (Details) - Deferred Share Units [Member] - The 2020 Plan [Member] shares in Thousands	1 Months Ended
	Dec. 31, 2022 $ / shares shares
Non-vested shares outstanding (in shares) | shares	0
Non-vested shares outstanding, weighted average grant date fair value (in dollars per share) | $ / shares	$ 0
Awards converted (in shares) | shares	460
Awards converted (in dollars per share) | $ / shares	$ 4.27
Awards vested (in shares) | shares	(460)
Awards vested, weighted average grant date fair value (in dollars per share) | $ / shares	$ 4.27
Awards forfeited (in shares) | shares	0
Awards forfeited, weighted average grant date fair value (in dollars per share) | $ / shares	$ 0
Non-vested shares outstanding (in shares) | shares	0
Non-vested shares outstanding, weighted average grant date fair value (in dollars per share) | $ / shares	$ 0

Note 17 - Stock-based Compen_10

Note 17 - Stock-based Compensation and Other Benefit Plans - SAR Activity (Details) - Stock Appreciation Rights (SARs) [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Outstanding, number of underlying shares (in shares)	362
Outstanding, weighted average exercise price per share (in dollars per share)	$ 1.81
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	0	0
Granted, weighted average exercise price per share (in dollars per share)	$ 0
Exercised, number of underlying shares (in shares)	(160)
Exercised, weighted average exercise price per share (in dollars per share)	$ 1.74
Unvested SARs forfeited, number of underlying shares (in shares)	0
Unvested SARs forfeited, weighted average exercise price per share (in dollars per share)	$ 0
Vested SARs expired, number of underlying shares (in shares)	0
Vested SARs expired, weighted average exercise price per share (in dollars per share)	$ 0
Outstanding, number of underlying shares (in shares)	202	362
Outstanding, weighted average exercise price per share (in dollars per share)	$ 1.87	$ 1.81
Outstanding, weighted average remaining contractual term (Year)	10 months 6 days
Outstanding, aggregate intrinsic value	$ 542
Exercisable, number of underlying shares (in shares)	202
Exercisable, weighted average exercise price per share (in dollars per share)	$ 1.87
Exercisable, weighted average remaining contractual term (Year)	10 months 6 days
Exercisable, aggregate intrinsic value	$ 542

Note 18 - Related Party Trans_2

Note 18 - Related Party Transactions (Details Textual) - Services Agreement [Member] - Chief Operating Officer [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Related Party Transaction, Amounts of Transaction	$ 177
Due to Related Parties, Total	$ 33

Note 19 - Other Comprehensive_3

Note 19 - Other Comprehensive Income (Details Textual) $ in Millions	3 Months Ended
	Dec. 31, 2022 USD ($)
Other Comprehensive Income (Loss), Net of Tax, Total	$ (1.2)

Note 19 - Other Comprehensive_4

Note 19 - Other Comprehensive Income - Accumulated Other Comprehensive Income (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Balance	$ 144,297
Balance	466,105
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance	0
Accumulated other comprehensive income (loss) before reclassifications	1,179
Amounts reclassified from accumulated other comprehensive income (loss)	0
Balance	$ 1,179