Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v2.4.0.6
Segment Information
 6 Months Ended
Jun. 30, 2012
Segment Information [Abstract]  
SEGMENT INFORMATION
7. 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 six months ended June 30, 2012 and 2011 are as follows: (in thousands)

 

 

                                                 
    Gabon     Angola     North
Sea 		    USA     Corporate
and Other 		    Total  

Three months ended June 30,

                                                

2012

                                                

Revenues

   $ 57,886     $ —       $ —       $ 932     $ —       $ 58,818  

Income (loss) from operations

     45,258       (585 )      (49 )      (3,843 )      (2,149 )      38,632  

2011

                                                

Revenues

   $ 58,531     $ —       $ —       $ 16     $ —       $ 58,547  

Income (loss) from operations

     46,057       (476 )      (72 )      (341 )      (2,656 )      42,512  
             
    Gabon     Angola     North
Sea		     USA     Corporate
and Other		     Total  

Six months ended June 30,

                                                

2012

                                                

Revenues

   $ 102,613     $ —       $ —       $ 1,491     $ —       $ 104,104  

Income (loss) from operations

     79,605       (1,199 )      (122 )      (4,606 )      (4,939 )      68,739  

2011

                                                

Revenues

   $ 105,267     $ —       $ —       $ 52     $ —       $ 105,319  

Income (loss) from operations

     81,058       (931 )      (198 )      (717 )      (5,359 )      73,853  
             
    Gabon     Angola     North
Sea		     USA     Corporate
and Other		     Total  

Total Assets

                                                

As of June 30, 2012

   $ 184,568     $ 21,503     $ —       $ 38,642     $ 45,413     $ 290,126  

As of December 31, 2011

     185,341       21,452       —         22,236       45,986       275,015