Annual report pursuant to Section 13 and 15(d)

Note 5 - Segment Information - Segment Activity of Continuing Operations (Details)

v3.23.1
Note 5 - Segment Information - Segment Activity of Continuing Operations (Details) - USD ($)
$ in Thousands
 1 Months Ended 12 Months Ended
Dec. 31, 2022
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Crude oil, natural gas and natural gas liquids sales $ 9,841 $ 354,326 $ 199,075 $ 67,176
Production expense   112,661 81,255 37,315
FPSO demobilization   8,867 0 0
Exploration expense   258 1,579 3,588
Depreciation, depletion and amortization   48,143 21,060 9,382
General and administrative expense   10,077 14,766 10,695
Bad debt expense and other   3,082 875 1,165
Total operating costs and expenses   183,088 119,535 92,770
Other operating income (expense), net   38 (440) (1,669)
Operating income (loss)   171,276 79,100 (27,263)
Derivative instruments gain (loss), net   (37,812) (22,826) 6,577
Interest income (expense), net   (2,034) 10 155
Other income (expense), net   (8,048) 3,494 129
Total other Income (expense), net   (47,894) (19,322) 6,861
Income (loss) from continuing operations before income taxes   123,382 59,778 (20,402)
Income tax (benefit) expense   71,420 (22,156) 27,681
Income (loss) from continuing operations   51,962 81,934 (48,083)
Loss from discontinued operations, net of tax   (72) (98) (98)
Net income (loss)   51,890 81,836 (48,181)
Consolidated capital expenditures (1)   434,360 [1] 79,221 10,494
Revenues, Total $ 9,841 354,326 199,075 67,176
Production expense   112,661 81,255 37,315
Exploration expense   258 1,579 3,588
General and administrative expense   10,077 14,766 10,695
Total operating costs and expenses   183,088 119,535 92,770
Other operating expense, net   38 (440) (1,669)
Derivative instruments loss, net   (37,812) (22,826) 6,577
Interest income, net   (2,034) 10 155
Other (expense) income, net   (8,048) 3,494 129
Total other income (expense), net   (47,894) (19,322) 6,861
Income (loss) from continuing operations before income taxes   123,382 59,778 (20,402)
Income (loss) from continuing operations   51,962 81,934 (48,083)
Loss from discontinued operations, net of tax   (72) (98) (98)
Net Income (Loss) Attributable to Parent, Total   51,890 81,836 (48,181)
Consolidated capital expenditures (1)   434,360 [1] 79,221 10,494
Impairment of Oil and Gas Properties   0 0 30,625
Corporate, Non-Segment [Member]        
Crude oil, natural gas and natural gas liquids sales   0 0 0
Production expense   0 6 16
FPSO demobilization   0    
Exploration expense   0 0 0
Depreciation, depletion and amortization   127 88 354
General and administrative expense   6,438 13,144 9,201
Bad debt expense and other   0 0 0
Total operating costs and expenses   6,565 13,238 9,571
Other operating income (expense), net   0 0 0
Operating income (loss)   (6,565) (13,238) (9,571)
Derivative instruments gain (loss), net   (37,825) (22,826) 6,577
Interest income (expense), net   8 10 155
Other income (expense), net   (6,564) (3,428) (68)
Total other Income (expense), net   (44,381) (26,244) 6,664
Income (loss) from continuing operations before income taxes   (50,946) (39,482) (2,907)
Income tax (benefit) expense   (3,344) (34,549) 11,476
Income (loss) from continuing operations   (47,602) (4,933) (14,383)
Loss from discontinued operations, net of tax   (72) (98) (98)
Net income (loss)   (47,674) (5,031) (14,481)
Consolidated capital expenditures (1)   710 [1] 52 (9)
Revenues, Total   0 0 0
Production expense   0 6 16
Exploration expense   0 0 0
General and administrative expense   6,438 13,144 9,201
Total operating costs and expenses   6,565 13,238 9,571
Other operating expense, net   0 0 0
Derivative instruments loss, net   (37,825) (22,826) 6,577
Interest income, net   8 10 155
Other (expense) income, net   (6,564) (3,428) (68)
Total other income (expense), net   (44,381) (26,244) 6,664
Income (loss) from continuing operations before income taxes   (50,946) (39,482) (2,907)
Income (loss) from continuing operations   (47,602) (4,933) (14,383)
Loss from discontinued operations, net of tax   (72) (98) (98)
Net Income (Loss) Attributable to Parent, Total   (47,674) (5,031) (14,481)
Consolidated capital expenditures (1)   710 [1] 52 (9)
Impairment of Oil and Gas Properties       0
Gabon Segment [Member] | Operating Segments [Member]        
Crude oil, natural gas and natural gas liquids sales   306,775 199,075 67,176
Production expense   96,854 80,717 37,298
FPSO demobilization   8,867    
Exploration expense   258 1,579 3,588
Depreciation, depletion and amortization   34,651 20,972 9,028
General and administrative expense   3,101 1,301 1,064
Bad debt expense and other   2,743 875 1,165
Total operating costs and expenses   146,474 105,444 82,768
Other operating income (expense), net   38 (440) (1,669)
Operating income (loss)   160,339 93,191 (17,261)
Derivative instruments gain (loss), net   13 0 0
Interest income (expense), net   (1,446) 0 0
Other income (expense), net   (1,484) 6,925 194
Total other Income (expense), net   (2,930) 6,925 194
Income (loss) from continuing operations before income taxes   157,409 100,116 (17,067)
Income tax (benefit) expense   68,509 12,392 16,204
Income (loss) from continuing operations   88,900 87,724 (33,271)
Loss from discontinued operations, net of tax   0 0 0
Net income (loss)   88,900 87,724 (33,271)
Consolidated capital expenditures (1)   162,375 [1] 79,169 10,503
Revenues, Total   306,775 199,075 67,176
Production expense   96,854 80,717 37,298
Exploration expense   258 1,579 3,588
General and administrative expense   3,101 1,301 1,064
Total operating costs and expenses   146,474 105,444 82,768
Other operating expense, net   38 (440) (1,669)
Derivative instruments loss, net   13 0 0
Interest income, net   (1,446) 0 0
Other (expense) income, net   (1,484) 6,925 194
Total other income (expense), net   (2,930) 6,925 194
Income (loss) from continuing operations before income taxes   157,409 100,116 (17,067)
Income (loss) from continuing operations   88,900 87,724 (33,271)
Loss from discontinued operations, net of tax   0 0 0
Net Income (Loss) Attributable to Parent, Total   88,900 87,724 (33,271)
Consolidated capital expenditures (1)   162,375 [1] 79,169 10,503
Impairment of Oil and Gas Properties       30,625
Egypt [Member] | Operating Segments [Member]        
Crude oil, natural gas and natural gas liquids sales   37,710    
Production expense   11,936    
FPSO demobilization   0    
Exploration expense   0    
Depreciation, depletion and amortization   10,444    
General and administrative expense   0    
Bad debt expense and other   0    
Total operating costs and expenses   22,380    
Other operating income (expense), net   0    
Operating income (loss)   15,330    
Interest income (expense), net   (596)    
Other income (expense), net   0    
Total other Income (expense), net   (596)    
Income (loss) from continuing operations before income taxes   14,734    
Income tax (benefit) expense   6,254    
Income (loss) from continuing operations   8,480    
Loss from discontinued operations, net of tax   0    
Net income (loss)   8,480    
Consolidated capital expenditures (1) [1]   168,012    
Revenues, Total   37,710    
Production expense   11,936    
Exploration expense   0    
General and administrative expense   0    
Total operating costs and expenses   22,380    
Other operating expense, net   0    
Interest income, net   (596)    
Other (expense) income, net   0    
Total other income (expense), net   (596)    
Income (loss) from continuing operations before income taxes   14,734    
Income (loss) from continuing operations   8,480    
Loss from discontinued operations, net of tax   0    
Net Income (Loss) Attributable to Parent, Total   8,480    
Consolidated capital expenditures (1) [1]   168,012    
Canada [Member] | Operating Segments [Member]        
Crude oil, natural gas and natural gas liquids sales   9,841    
Production expense   1,972    
FPSO demobilization   0    
Exploration expense   0    
Depreciation, depletion and amortization   2,921    
General and administrative expense   0    
Bad debt expense and other   0    
Total operating costs and expenses   4,893    
Other operating income (expense), net   0    
Operating income (loss)   4,948    
Interest income (expense), net   0    
Other income (expense), net   0    
Total other Income (expense), net   13    
Income (loss) from continuing operations before income taxes   4,961    
Income tax (benefit) expense   0    
Income (loss) from continuing operations   4,961    
Loss from discontinued operations, net of tax   0    
Net income (loss)   4,961    
Consolidated capital expenditures (1) [1]   103,263    
Revenues, Total   9,841    
Production expense   1,972    
Exploration expense   0    
General and administrative expense   0    
Total operating costs and expenses   4,893    
Other operating expense, net   0    
Interest income, net   0    
Other (expense) income, net   0    
Total other income (expense), net   13    
Income (loss) from continuing operations before income taxes   4,961    
Income (loss) from continuing operations   4,961    
Loss from discontinued operations, net of tax   0    
Net Income (Loss) Attributable to Parent, Total   4,961    
Consolidated capital expenditures (1) [1]   103,263    
Equatorial Guinea Segment [Member] | Operating Segments [Member]        
Crude oil, natural gas and natural gas liquids sales   0 0 0
Production expense   1,899 532 1
FPSO demobilization   0    
Exploration expense   0 0 0
Depreciation, depletion and amortization   0 0 0
General and administrative expense   538 321 430
Bad debt expense and other   339 0 0
Total operating costs and expenses   2,776 853 431
Other operating income (expense), net   0 0 0
Operating income (loss)   (2,776) (853) (431)
Derivative instruments gain (loss), net     0 0
Interest income (expense), net   0 0 0
Other income (expense), net   0 (3) 3
Total other Income (expense), net   0 (3) 3
Income (loss) from continuing operations before income taxes   (2,776) (856) (428)
Income tax (benefit) expense   1 1 1
Income (loss) from continuing operations   (2,777) (857) (429)
Loss from discontinued operations, net of tax   0 0 0
Net income (loss)   (2,777) (857) (429)
Consolidated capital expenditures (1)   0 [1] 0 0
Revenues, Total   0 0 0
Production expense   1,899 532 1
Exploration expense   0 0 0
General and administrative expense   538 321 430
Total operating costs and expenses   2,776 853 431
Other operating expense, net   0 0 0
Derivative instruments loss, net     0 0
Interest income, net   0 0 0
Other (expense) income, net   0 (3) 3
Total other income (expense), net   0 (3) 3
Income (loss) from continuing operations before income taxes   (2,776) (856) (428)
Income (loss) from continuing operations   (2,777) (857) (429)
Loss from discontinued operations, net of tax   0 0 0
Net Income (Loss) Attributable to Parent, Total   (2,777) (857) (429)
Consolidated capital expenditures (1)   $ 0 [1] $ 0 0
Impairment of Oil and Gas Properties       $ 0
[1] Excludes assets acquired in the TransGlobe acquisition.