| Segment Information |
8. SEGMENT INFORMATION
The Company’s operations are based in Gabon, Angola, Equatorial Guinea and the United States. Management reviews and evaluates the operation of each geographic segment separately. The operations of all segments include exploration for and production of hydrocarbons where commercial reserves have been found and developed. The accounting policies of the reportable segments are the same as in Note 1. Revenues are based on the location of hydrocarbon production. The Company evaluates each segment based on income (loss) from operations.
Segment activity for the three and six months ended June 30, 2014 and 2013 are as follows:
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Corporate
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Gabon
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Angola
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Equatorial Guinea
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USA
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and Other
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Total
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Three Months Ended June 30,
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2014
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Revenues
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$
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51,631
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$
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-
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$
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-
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$
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467
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$
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52,098
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Income (loss) from operations
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36,223
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(721
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)
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(139
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)
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130
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(1,666
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)
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$
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33,828
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2013
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Revenues
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$
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28,574
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$
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-
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$
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-
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$
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544
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$
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-
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$
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29,118
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Income (loss) from operations
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14,853
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(379
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)
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(165
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(1,336
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)
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(1,307
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)
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$
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11,666
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Corporate
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Gabon
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Angola
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Equatorial Guinea
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USA
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and Other
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Total
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Six Months Ended June 30,
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2014
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Revenues
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$
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79,375
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$
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-
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$
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-
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$
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797
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$
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-
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$
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80,172
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Income (loss) from operations
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38,913
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(1,847
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)
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(339
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67
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(3,614
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)
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33,181
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2013
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Revenues
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$
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72,229
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$
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-
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$
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-
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$
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1,026
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$
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-
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$
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73,255
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Income (loss) from operations
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45,717
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(1,582
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)
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(455
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(7,028
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(3,482
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)
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33,170
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Corporate
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Total Assets
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Gabon
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Angola
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Equatorial Guinea
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USA
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and Other
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Total
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As of June 30, 2014
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$
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287,352
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$
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13,777
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$
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10,103
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$
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9,813
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$
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13,271
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334,317
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As of December 31, 2013
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256,033
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12,204
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10,059
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9,660
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20,211
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308,167
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