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SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company’s operations are based in Gabon, Egypt, Côte d'Ivoire, Canada, Nigeria 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 (“CODM”) evaluates segment performance based on the operation of each geographic segment separately primarily based on Operating income (loss) and allocates financial and capital resources for each segment predominantly in the annual budget and forecasting process. The CODM also considers budget-to-actual variances on a quarterly basis for the performance measure when making decisions about allocating capital and personnel to the segments.

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 allocated to the reportable operating segments and are shown in the tables to reconcile the business segments to consolidated totals. No transactions occurred between operating segments. “Other operating income (expense)” below are those items that are included in Net income (loss) but are not regularly provided to the CODM, or are reported to the CODM but are not considered to be significant segment expenses.

Segment activity of continuing operations for the three and six months ended June 30, 2025 and 2024, as well as long-lived assets and segment assets at June 30, 2025 and December 31, 2024 are as follows:
Three Months Ended June 30, 2025
(in thousands)GabonEgyptCanadaEquatorial GuineaCôte d'IvoireCorporate and OtherTotal
Revenues: 
Crude oil, natural gas and natural gas liquids sales$58,568 $33,257 $4,715 $— $353 $— $96,893 
Operating costs and expenses:
Production expense23,332 13,130 2,488 386 1,056 1 40,393 
Exploration expense— — — — 2,520 — 2,520 
Depreciation, depletion and amortization14,673 9,220 3,160 — 968 252 28,273 
General and administrative expense202 62 39 86 237 7,870 8,496 
Credit (recovery) losses and other(297)— — 326 — — 29 
Total operating costs and expenses37,910 22,412 5,687 798 4,781 8,123 79,711 
Other operating income (expense), net— — — — — — — 
Operating income (loss)20,658 10,845 (972)(798)(4,428)(8,123)17,182 
Other income (expense):       
Derivative instruments gain (loss), net— — — — — 400 400 
Interest (expense) income, net(835)(180)— — (1,396)(161)(2,572)
Other income (expense), net(132)57 430 (1)116 (117)353 
Total other income (expense), net(967)(123)430 (1)(1,280)122 (1,819)
Income (loss) before income taxes19,691 10,722 (542)(799)(5,708)(8,001)15,363 
Income tax (benefit) expense5,356 3,343 — — (6,139)4,423 6,983 
Net income (loss)14,335 7,379 (542)(799)431 (12,424)8,380 
Consolidated capital expenditures$9,199 $7,593 $210 $306 $23,521 $37 $40,866 

Six Months Ended June 30, 2025
(in thousands)GabonEgyptCanadaEquatorial GuineaCôte d'IvoireCorporate and OtherTotal
Revenues: 
Crude oil, natural gas and natural gas liquids sales$110,754 $67,177 $10,895 $— $18,396 $— $207,222 
Operating costs and expenses: 
Production expense47,655 25,131 4,611 686 7,114 1 85,198 
Exploration expense— — — — 2,520 — 2,520 
Depreciation, depletion and amortization26,094 17,271 6,550 — 8,388 275 58,578 
General and administrative expense446 103 31 150 863 15,955 17,548 
Credit (recovery) losses and other(635)— — 637 — — 2 
Total operating costs and expenses73,560 42,505 11,192 1,473 18,885 16,231 163,846 
Operating income (loss)37,194 24,672 (297)(1,473)(489)(16,231)43,376 
Other income (expense):       
Derivative instruments gain (loss), net— — — — — 326 326 
Interest (expense) income, net(1,871)(423)— — (1,287)(285)(3,866)
Other income (expense), net(764)61 398 (5)(61)(288)(659)
Total other income (expense), net(2,635)(362)398 (5)(1,348)(247)(4,199)
Income (loss) before income taxes34,559 24,310 101 (1,478)(1,837)(16,478)39,177 
Income tax (benefit) expense14,244 8,530 — — (10,234)10,526 23,066 
Net income (loss)$20,315 $15,780 $101 $(1,478)$8,397 $(27,004)$16,111 
Consolidated capital expenditures$16,305 $13,840 $1,517 $559 $59,941 $19 $92,181 
Three Months Ended June 30, 2024
(in thousands)GabonEgyptCanadaEquatorial GuineaCote d'IvoireCorporate and OtherTotal
Revenues:
Crude oil, natural gas and natural gas liquids sales$53,674 $35,481 $10,383 $— $17,240 $— $116,778 
Operating costs and expenses: 
Production expense18,486 13,424 3,359 272 16,905 — 52,446 
Depreciation, depletion and amortization13,344 8,416 5,294 — 6,049 29 33,132 
General and administrative expense319 207 (127)93 124 6,975 7,591 
Credit losses and other— 3,178 — 163 — — 3,341 
Total operating costs and expenses32,149 25,225 8,526 528 23,078 7,004 96,510 
Other operating income, net132 — — — — — 132 
Operating income (loss)21,657 10,256 1,857 (528)(5,838)(7,004)20,400 
Other income (expense):
Derivative instruments gain, net— — — — — 257 257 
Interest (expense) income, net(1,158)(350)14 — (1,540)1,917 (1,117)
Bargain Purchase Gain— — — — — 19,898 19,898 
Other income (expense), net(137)— 5 3 (301)(1,554)(1,984)
Total other income (expense), net(1,295)(350)19 3 (1,841)20,519 17,054 
Income (loss) before income taxes20,362 9,906 1,876 (525)(7,679)13,515 37,454 
Income tax (benefit) expense9,731 8,749 — — (3,050)(6,127)9,303 
Net income (loss)$10,631 $1,157 $1,876 $(525)$(4,630)$19,642 $28,151 
Consolidated capital expenditures $5,102 $1,868 $7,155 $— $7,152 $1,153 $22,431 
Six Months Ended June 30, 2024
(in thousands)GabonEgyptCanadaEquatorial GuineaCôte d'IvoireCorporate and OtherTotal
Revenues: 
Crude oil, natural gas and natural gas liquids sales$111,178 $72,442 $16,073 $— $17,240 $— $216,933 
Operating costs and expenses:
Production expense35,199 26,175 5,738 517 16,905 1 84,535 
Exploration expense— 48 — — — — 48 
Depreciation, depletion and amortization26,795 16,752 9,191 — 6,049 169 58,956 
General and administrative expense953 376 (115)171 124 12,792 14,301 
Credit (recovery) losses and other20 4,812 — 321 — — 5,153 
Total operating costs and expenses62,967 48,163 14,814 1,009 23,078 12,962 162,993 
Other operating income (expense), net(34)— — — — — (34)
Operating income (loss)48,177 24,279 1,259 (1,009)(5,838)(12,962)53,906 
Other income (expense):
Derivative instruments loss, net— — — — — (590)(590)
Interest (expense) income, net(2,475)(760)38 — (1,540)2,685 (2,052)
Bargain Purchase Gain— — — — — 19,898 19,898 
Other income (expense), net(231)— 5 2 (301)(3,259)(3,784)
Total other income (expense), net(2,706)(760)43 2 (1,841)18,734 13,472 
Income (loss) before income taxes45,471 23,519 1,302 (1,007)(7,679)5,772 67,378 
Income tax (benefit) expense26,024 15,782 — — (3,050)(7,215)31,541 
Net income (loss)$19,447 $7,737 $1,302 $(1,007)$(4,630)$12,988 $35,837 
Consolidated capital expenditures$11,389 $6,196 $19,714 $— $7,152 $2,001 $46,453 
(in thousands)GabonEgyptCanadaEquatorial GuineaCôte d'IvoireCorporate and OtherTotal
Long-lived assets:
As of June 30, 2025$148,979 $145,698 $105,467 $11,200 $171,062 $4,857 $587,263 
As of December 31, 2024$153,576 $149,129 $104,891 $10,641 $114,756 $5,110 $538,103 
(in thousands)GabonEgyptCanadaEquatorial GuineaCôte d'IvoireCorporate and OtherTotal
Total assets:
As of June 30, 2025$294,795 $268,867 $110,430 $13,288 $223,593 $53,949 $964,922 
As of December 31, 2024$300,568 $269,905 $113,310 $12,331 $187,264 $71,572 $954,950