XML 75 R49.htm IDEA: XBRL DOCUMENT v3.22.1
Segment information (Tables)
12 Months Ended
Dec. 31, 2021
Disclosure Of Segment information [Abstract]  
Schedule of Segment Information by Segment Areas (Geographical Segments)

Segment areas (geographical segments)

Amounts in US$ ‘000

Colombia

Chile

Brazil

Argentina

Ecuador (b)

Corporate

Total

2021

Revenue

618,268

21,471

20,109

28,695

688,543

Sale of crude oil

616,133

6,297

661

24,468

647,559

Sale of gas

2,135

15,174

19,448

4,227

40,984

Realized loss on commodity risk management contracts

(109,654)

(109,654)

Production and operating costs

(178,384)

(11,050)

(4,596)

(18,760)

(212,790)

Royalties

(106,341)

(770)

(1,642)

(4,270)

(113,023)

Share-based payment

(334)

(31)

26

(339)

Other operating costs

(71,709)

(10,249)

(2,954)

(14,516)

(99,428)

Adjusted EBITDA

294,847

7,639

12,569

2,124

(2,071)

(14,308)

300,800

Depreciation

(61,279)

(14,275)

(4,082)

(9,130)

(200)

(3)

(88,969)

(Recognition) Reversal of impairment losses

(17,641)

13,307

(4,334)

Write-off of unsuccessful exploration efforts

(7,827)

(4,435)

(12,262)

Total assets

689,401

71,515

38,846

38,111

7,782

50,086

895,741

Employees (average) (a)

308

55

4

92

8

9

476

Employees at year end (a)

321

52

4

74

3

9

463

(a)Unaudited

(b)

Includes certain expenses and 4 average employees (who are no longer in the Group at year-end) that correspond to the Peruvian subsidiaries, which act as holding companies of the Ecuadorian branch since Peru is no longer an operating segment due to the retirement from the Morona Block.

Amounts in US$ ‘000

Colombia

Chile

Brazil

Argentina

Peru (b)

Ecuador

Corporate

Total

2020

Revenue

334,606

21,704

12,783

24,599

393,692

Sale of crude oil

332,461

5,103

891

21,185

359,640

Sale of gas

2,145

16,601

11,892

3,414

34,052

Realized gain on commodity risk management contracts

21,059

21,059

Production and operating costs

(92,319)

(10,244)

(3,876)

(18,633)

(125,072)

Royalties

(30,453)

(753)

(1,049)

(3,620)

(35,875)

Share-based payment

(362)

(94)

(72)

(528)

Other operating costs

(61,504)

(9,397)

(2,827)

(14,941)

(88,669)

Adjusted EBITDA

218,524

8,148

4,784

1,195

(1,952)

(773)

(12,395)

217,531

Depreciation

(63,687)

(33,571)

(3,732)

(16,564)

(401)

(52)

(66)

(118,073)

Recognition of impairment losses

(81,967)

(1,717)

(16,205)

(33,975)

(133,864)

Write-off of unsuccessful exploration efforts

(1,949)

(50,167)

(536)

(52,652)

Total assets

680,828

101,742

38,172

36,803

4,656

1,127

96,938

960,266

Employees (average) (a)

238

68

11

114

10

2

4

447

Employees at year end (a)

268

57

5

97

5

2

3

437

Amounts in US$ ‘000

Colombia

Chile

Brazil

Argentina

Peru (b)

Ecuador

Corporate

Total

2019

Revenue

538,917

32,336

23,049

34,605

628,907

Sale of crude oil

536,986

10,551

1,469

30,024

579,030

Sale of gas

1,931

21,785

21,580

4,581

49,877

Realized gain on commodity risk management contracts

3,888

3,888

Production and operating costs

(116,944)

(19,789)

(5,953)

(26,278)

(168,964)

Royalties

(56,399)

(1,181)

(1,855)

(5,141)

(64,576)

Share-based payment

(231)

(31)

(29)

(38)

(329)

Other operating costs

(60,314)

(18,577)

(4,069)

(21,099)

(104,059)

Adjusted EBITDA

367,058

8,310

11,750

868

(6,540)

(535)

(17,576)

363,335

Depreciation

(46,917)

(34,826)

(7,445)

(15,618)

(576)

(1)

(149)

(105,532)

Recognition of impairment losses

(7,559)

-

-

(7,559)

Write-off of unsuccessful exploration efforts

(5,120)

(13,170)

-

-

(18,290)

Total assets

357,125

249,207

68,480

79,062

53,993

1,119

43,146

852,132

Employees (average) (a)

195

89

13

133

26

2

3

461

Employees at year end (a)

202

77

13

128

14

2

3

439

(a)Unaudited
(b)As of the date of these Consolidated Financial Statements, Peru is no longer an operating segment due to the retirement from the Morona Block.

Schedule of Reconciliation of Total Adjusted EBITDA to Total Profit (Loss) Before Income Tax

A reconciliation of total Adjusted EBITDA to total profit (loss) before income tax is provided as follows:

Amounts in US$ ‘000

    

2021

    

2020

    

2019

Adjusted EBITDA

 

300,800

 

217,531

 

363,335

Unrealized gain (loss) on commodity risk management contracts

 

463

 

(12,978)

 

(26,411)

Depreciation (a)

 

(88,969)

 

(118,073)

 

(105,532)

Share-based payment

 

(6,621)

 

(8,444)

 

(2,717)

Impairment and write-off of unsuccessful exploration efforts, net

 

(16,596)

 

(186,516)

 

(25,849)

Lease accounting - IFRS 16

7,518

9,380

4,855

Others (b)

 

(10,786)

 

(11,563)

 

2,994

Operating profit (loss)

 

185,809

 

(110,663)

 

210,675

Financial expenses

 

(64,112)

 

(64,582)

 

(41,070)

Financial income

 

1,652

 

3,166

 

2,360

Foreign exchange gain (loss)

 

5,049

 

(13,008)

 

(2,446)

Profit (Loss) before tax

 

128,398

 

(185,087)

 

169,519

(a)Net of capitalized costs for oil stock included in Inventories.
(b)Includes allocation to capitalized projects. In 2021, also includes termination costs and write-down of tax credits in Argentina and, in 2020, also includes termination costs, and write-down of VAT credits and recognition of a provision for environmental liabilities in Peru.