Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v2.4.0.6
Segment Information
 9 Months Ended
Sep. 30, 2012
Segment Information [Abstract]  
SEGMENT INFORMATION
8. 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, 2012 and 2011 are as follows: (in thousands)

 

 

                                                 
    Gabon     Angola     North
Sea		     USA     Corporate
and Other		     Total  

Three months ended September 30,

                                                

2012

                                               

Revenues

   $ 36,950     $ —       $ —       $ 680     $ —       $ 37,630  

Income (loss) from operations

     27,248       (781 )      (36 )      (8,994 )      (1,843 )      15,594  
             

2011

                                               

Revenues

   $ 36,424     $ —       $ —       $ 926     $ —       $ 37,350  

Income (loss) from operations

     26,876       (4,452 )      (82 )      (814 )      (1,709 )      19,819  
             
    Gabon     Angola     North
Sea		     USA     Corporate
and Other		     Total  

Nine months ended September 30,

                                                

2012

                                               

Revenues

   $ 139,563     $ —       $ —       $ 2,171     $ —       $ 141,734  

Income (loss) from operations

     106,852       (1,980 )      (158 )      (13,599 )      (6,782 )      84,333  
             

2011

                                               

Revenues

   $ 141,691     $ —       $ —       $ 978     $ —       $ 142,669  

Income (loss) from operations

     107,934       (5,383 )      (280 )      (1,531 )      (7,068 )      93,672  
             
Total Assets   Gabon     Angola     North
Sea		     USA     Corporate
and Other		     Total  

As of September 30, 2012

   $ 182,593     $ 21,981     $ —       $ 46,646     $ 43,928     $ 295,148  

As of December 31, 2011

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