| Segment Information |
The Company's operations are based in Gabon, Angola, the British North Sea and in 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. 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 months and nine months ended September 30, 2011 and 2010 are as follows: (in thousands)
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Gabon |
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Angola |
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North
Sea |
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USA |
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Corporate
and Other |
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Total |
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Three months ended September 30,
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2011
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Revenues
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$ |
36,424 |
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$ |
— |
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$ |
— |
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$ |
926 |
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$ |
— |
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$ |
37,350 |
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Income from operations
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26,876 |
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(4,452 |
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(82 |
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(814 |
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(1,709 |
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19,819 |
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2010
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Revenues
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$ |
32,591 |
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$ |
— |
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$ |
— |
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$ |
13 |
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$ |
— |
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$ |
32,604 |
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Income from operations
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22,300 |
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(516 |
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(76 |
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(220 |
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115 |
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21,603 |
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Gabon |
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Angola |
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North
Sea |
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USA |
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Corporate
and Other |
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Total |
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Nine months ended September 30,
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2011
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Revenues
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$ |
141,691 |
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$ |
— |
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$ |
— |
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$ |
978 |
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$ |
— |
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$ |
142,669 |
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Income from operations
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107,934 |
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(5,383 |
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(280 |
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(1,531 |
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(7,068 |
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93,672 |
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2010
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Revenues
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$ |
96,207 |
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$ |
— |
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$ |
— |
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$ |
78 |
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$ |
— |
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$ |
96,285 |
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Income from operations
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64,965 |
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(1,782 |
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(284 |
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(209 |
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(3,115 |
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59,575 |
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Gabon |
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Angola |
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North
Sea |
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USA |
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Corporate
and Other |
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Total |
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Total Assets
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As of September 30, 2011
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$ |
181,173 |
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$ |
21,517 |
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$ |
— |
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$ |
26,157 |
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$ |
34,783 |
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$ |
263,630 |
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As of December 31, 2010
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181,642 |
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14,081 |
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— |
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3,189 |
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39,488 |
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238,400 |
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