XML 29 R54.htm IDEA: XBRL DOCUMENT v2.4.0.8
Investment in Equity Affiliate - Summary of Financial Information (Detail) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Adjustments to increase (decrease) net income under IFRS                      
Earnings from equity affiliate included in income income $ (10,242) $ 25,747 $ 7,602 $ 49,471 $ 7,745 $ 20,299 $ 22,829 $ 16,896 $ 72,578 $ 67,769 $ 73,451
Petrodelta, S.A. [Member]
                     
Revenues:                      
Oil sales                 1,326,093 1,263,264 1,122,191
Gas sales                 4,000 3,350 3,497
Royalty                 (440,963) (423,069) (374,135)
Revenue, total                 889,130 843,545 751,553
EXPENSES:                      
Operating expenses                 151,661 121,023 77,236
Workovers                 29,168 17,302 28,508
Depletion, depreciation and amortization                 87,203 86,004 58,376
General and administrative                 26,345 31,753 11,297
Windfall profits tax                 234,453 291,355 237,632
Windfall profits credit                 (55,168) 0 0
Total expenses                 473,662 547,437 413,049
Income from operations                 415,468 296,108 338,504
Gain on exchange rate                 169,582 0 0
Investment earnings and other                 15 13 610
Interest expense                 (21,728) (7,017) (10,699)
Income before income tax                 563,337 289,104 328,415
Current income tax expense                 325,217 127,080 190,577
Deferred income tax expense (benefit)                 (17,662) 76,030 (94,622)
Net income under IFRS                 255,782 85,994 232,460
Adjustments to increase (decrease) net income under IFRS                      
Deferred income tax (expense) benefit                 9,080 78,968 (49,545)
Depletion expense                 (20,352) 7,282 1,908
Reversal of windfall profits tax credit                 (55,168) 0 0
Sports law over accrual                 1,313 2,536 0
Net income under U.S. GAAP                 190,655 174,780 184,823
Equity interest in equity affiliate                 40.00% 40.00% 40.00%
Income before amortization of excess basis in equity affiliate                 76,262 69,912 73,929
Amortization of excess basis in equity affiliate                 (3,684) (2,143) (1,863)
Earnings from equity affiliate included in income income                 $ 72,578 $ 67,769 $ 72,066