XML 138 R57.htm IDEA: XBRL DOCUMENT v3.25.1
SEGMENT INFORMATION - Schedule of Segment Activity of Continuing Operations (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues:      
Crude oil, natural gas and natural gas liquids sales $ 478,988 $ 455,066 $ 354,326
Operating costs and expenses:      
Production expense 163,500 153,157 112,661
FPSO demobilization and other costs 0 7,484 8,867
Exploration expense 48 1,965 258
Depreciation, depletion and amortization 143,034 115,302 48,143
General and administrative expense 29,684 23,840 10,077
Credit (recovery) losses and other 6,304 (4,906) 3,082
Total operating costs and expenses 342,570 296,842 183,088
Other operating expense, net 78 433 38
Operating income (loss) 136,496 158,657 171,276
Other income (expense):      
Derivative instruments gain (loss), net (745) 232 (37,812)
Interest income (expense), net (3,732) (6,452) (2,034)
Bargain purchase gain 13,532 (1,412) 10,819
Other income (expense), net   (2,306) (8,120)
Other income (expense), net (5,754) (894) (18,939)
Total other income (expense), net 3,301 (8,526) (47,966)
Income before income taxes 139,797 150,131 123,310
Income tax expense 81,307 89,777 71,420
Net income 58,490 60,354 51,890
Consolidated capital expenditures 109,438 72,636 434,360
Gabon      
Revenues:      
Crude oil, natural gas and natural gas liquids sales 205,954 260,346 306,775
Egypt      
Revenues:      
Crude oil, natural gas and natural gas liquids sales 145,966 161,049 37,710
Canada      
Revenues:      
Crude oil, natural gas and natural gas liquids sales 31,986 33,671 9,841
Cote d'Ivoire      
Revenues:      
Crude oil, natural gas and natural gas liquids sales 95,082    
Operating | Gabon      
Revenues:      
Crude oil, natural gas and natural gas liquids sales 205,954 260,346 306,775
Operating costs and expenses:      
Production expense 62,234 87,131 96,854
FPSO demobilization and other costs   7,484 8,867
Exploration expense 0 51 258
Depreciation, depletion and amortization 50,679 62,622 34,651
General and administrative expense 1,679 1,769 3,101
Credit (recovery) losses and other 812 (10,596) 2,743
Total operating costs and expenses 115,404 148,461 146,474
Other operating expense, net (24) (55) 38
Operating income (loss) 90,526 111,830 160,339
Other income (expense):      
Derivative instruments gain (loss), net 0 0 0
Interest income (expense), net (4,694) (5,563) (1,446)
Bargain purchase gain 0    
Other income (expense), net   (820) (1,484)
Other income (expense), net (1,635)    
Total other income (expense), net (6,329) (6,383) (2,930)
Income before income taxes 84,197 105,447 157,409
Income tax expense 48,026 50,692 68,509
Net income 36,171 54,755 88,900
Consolidated capital expenditures 22,579 17,011 162,375
Operating | Egypt      
Revenues:      
Crude oil, natural gas and natural gas liquids sales 145,966 161,049 37,710
Operating costs and expenses:      
Production expense 50,770 54,779 11,936
FPSO demobilization and other costs   0 0
Exploration expense 48 1,914 0
Depreciation, depletion and amortization 33,458 35,095 10,444
General and administrative expense 70 974 0
Credit (recovery) losses and other 4,813 5,182 0
Total operating costs and expenses 89,159 97,944 22,380
Other operating expense, net 0 (241) 0
Operating income (loss) 56,807 62,864 15,330
Other income (expense):      
Derivative instruments gain (loss), net 0 0 0
Interest income (expense), net (1,489) (2,110) (596)
Bargain purchase gain 0    
Other income (expense), net   0 0
Other income (expense), net (204)    
Total other income (expense), net (1,693) (2,110) (596)
Income before income taxes 55,114 60,754 14,734
Income tax expense 30,648 32,859 6,254
Net income 24,466 27,895 8,480
Consolidated capital expenditures 11,364 37,866 168,012
Operating | Canada      
Revenues:      
Crude oil, natural gas and natural gas liquids sales 31,986 33,671 9,841
Operating costs and expenses:      
Production expense 11,301 9,463 1,972
FPSO demobilization and other costs   0 0
Exploration expense 0 0 0
Depreciation, depletion and amortization 19,309 17,398 2,921
General and administrative expense (206) 0 0
Credit (recovery) losses and other 0 0 0
Total operating costs and expenses 30,404 26,861 4,893
Other operating expense, net 102 729 0
Operating income (loss) 1,684 7,539 4,948
Other income (expense):      
Derivative instruments gain (loss), net 0 0 13
Interest income (expense), net (46) (4) 0
Bargain purchase gain 0    
Other income (expense), net   2 0
Other income (expense), net 225    
Total other income (expense), net 179 (2) 13
Income before income taxes 1,863 7,537 4,961
Income tax expense 0 0 0
Net income 1,863 7,537 4,961
Consolidated capital expenditures 25,828 16,809 103,263
Operating | Equatorial Guinea      
Revenues:      
Crude oil, natural gas and natural gas liquids sales 0 0 0
Operating costs and expenses:      
Production expense 1,173 1,481 1,899
FPSO demobilization and other costs   0 0
Exploration expense 0 0 0
Depreciation, depletion and amortization 0 0 0
General and administrative expense 305 416 538
Credit (recovery) losses and other 679 508 339
Total operating costs and expenses 2,157 2,405 2,776
Other operating expense, net 0 0 0
Operating income (loss) (2,157) (2,405) (2,776)
Other income (expense):      
Derivative instruments gain (loss), net 0 0 0
Interest income (expense), net 0 0 0
Bargain purchase gain 0    
Other income (expense), net   (6) 0
Other income (expense), net (7)    
Total other income (expense), net (7) (6) 0
Income before income taxes (2,164) (2,411) (2,776)
Income tax expense 0 0 1
Net income (2,164) (2,411) (2,777)
Consolidated capital expenditures 641 0 0
Operating | Cote d'Ivoire      
Revenues:      
Crude oil, natural gas and natural gas liquids sales 95,082    
Operating costs and expenses:      
Production expense 38,017    
Exploration expense 0    
Depreciation, depletion and amortization 38,771    
General and administrative expense 1,701    
Credit (recovery) losses and other 0    
Total operating costs and expenses 78,489    
Other operating expense, net 0    
Operating income (loss) 16,593    
Other income (expense):      
Derivative instruments gain (loss), net (533)    
Interest income (expense), net 313    
Bargain purchase gain 0    
Other income (expense), net (1)    
Total other income (expense), net (221)    
Income before income taxes 16,372    
Income tax expense 4,229    
Net income 12,143    
Consolidated capital expenditures 44,435    
Corporate and Other      
Revenues:      
Crude oil, natural gas and natural gas liquids sales 0 0 0
Operating costs and expenses:      
Production expense 5 303 0
FPSO demobilization and other costs   0 0
Exploration expense 0 0 0
Depreciation, depletion and amortization 817 187 127
General and administrative expense 26,135 20,681 6,438
Credit (recovery) losses and other 0 0 0
Total operating costs and expenses 26,957 21,171 6,565
Other operating expense, net 0 0 0
Operating income (loss) (26,957) (21,171) (6,565)
Other income (expense):      
Derivative instruments gain (loss), net (212) 232 (37,825)
Interest income (expense), net 2,184 1,225 8
Bargain purchase gain 13,532    
Other income (expense), net   (1,482) (6,636)
Other income (expense), net (4,132)    
Total other income (expense), net 11,372 (25) (44,453)
Income before income taxes (15,585) (21,196) (51,018)
Income tax expense (1,596) 6,226 (3,344)
Net income (13,989) (27,422) (47,674)
Consolidated capital expenditures $ 4,592 $ 950 $ 710