| Segment Activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2020 |
(in thousands) |
|
Gabon |
|
Equatorial Guinea |
|
Corporate and Other |
|
Total |
Revenues-crude oil and natural gas sales |
|
$ |
67,176 |
|
$ |
— |
|
$ |
— |
|
$ |
67,176 |
Depreciation, depletion and amortization |
|
|
9,028 |
|
|
— |
|
|
354 |
|
|
9,382 |
Impairment of proved crude oil and natural gas properties |
|
|
30,625 |
|
|
— |
|
|
— |
|
|
30,625 |
Bad debt (recovery) expense and other |
|
|
1,165 |
|
|
— |
|
|
— |
|
|
1,165 |
Other operating expense, net |
|
|
(1,669) |
|
|
— |
|
|
— |
|
|
(1,669) |
Operating loss |
|
|
(17,261) |
|
|
(431) |
|
|
(9,571) |
|
|
(27,263) |
Derivative instruments gain, net |
|
|
— |
|
|
— |
|
|
6,577 |
|
|
6,577 |
Interest income, net |
|
|
— |
|
|
— |
|
|
155 |
|
|
155 |
Other, net |
|
|
194 |
|
|
3 |
|
|
(68) |
|
|
129 |
Income tax expense |
|
|
16,204 |
|
|
1 |
|
|
11,476 |
|
|
27,681 |
Additions to crude oil and natural gas properties and equipment – accrual |
|
|
10,503 |
|
|
— |
|
|
(9) |
|
|
10,494 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2019 |
(in thousands) |
|
Gabon |
|
Equatorial Guinea |
|
Corporate and Other |
|
Total |
Revenues-crude oil and natural gas sales |
|
$ |
84,521 |
|
$ |
— |
|
$ |
— |
|
$ |
84,521 |
Depreciation, depletion and amortization |
|
|
6,825 |
|
|
— |
|
|
258 |
|
|
7,083 |
Gain on revision of asset retirement obligations |
|
|
(379) |
|
|
— |
|
|
— |
|
|
(379) |
Bad debt (recovery) expense and other |
|
|
(341) |
|
|
— |
|
|
— |
|
|
(341) |
Other operating expense, net |
|
|
(4,456) |
|
|
— |
|
|
35 |
|
|
(4,421) |
Operating income (loss) |
|
|
35,049 |
|
|
(438) |
|
|
(13,418) |
|
|
21,193 |
Derivative instruments loss, net |
|
|
— |
|
|
— |
|
|
(446) |
|
|
(446) |
Interest income, net |
|
|
5 |
|
|
— |
|
|
728 |
|
|
733 |
Other, net |
|
|
(230) |
|
|
(3) |
|
|
(205) |
|
|
(438) |
Income tax expense |
|
|
20,311 |
|
|
12 |
|
|
3,567 |
|
|
23,890 |
Additions to crude oil and natural gas properties and equipment – accrual |
|
|
22,116 |
|
|
— |
|
|
57 |
|
|
22,173 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2018 |
(in thousands) |
|
Gabon |
|
Equatorial Guinea |
|
Corporate and Other |
|
Total |
Revenues-crude oil and natural gas sales |
|
$ |
104,938 |
|
$ |
— |
|
$ |
5 |
|
$ |
104,943 |
Depreciation, depletion and amortization |
|
|
5,176 |
|
|
— |
|
|
420 |
|
|
5,596 |
Gain on revision of asset retirement obligations |
|
|
(3,325) |
|
|
— |
|
|
— |
|
|
(3,325) |
Bad debt (recovery) expense and other |
|
|
(77) |
|
|
— |
|
|
— |
|
|
(77) |
Other operating expense, net |
|
|
365 |
|
|
— |
|
|
— |
|
|
365 |
Operating income (loss) |
|
|
61,930 |
|
|
(470) |
|
|
(10,173) |
|
|
51,287 |
Derivative instruments gain, net |
|
|
— |
|
|
— |
|
|
4,264 |
|
|
4,264 |
Interest income (expense), net |
|
|
(396) |
|
|
— |
|
|
251 |
|
|
(145) |
Other, net |
|
|
92 |
|
|
(4) |
|
|
(20) |
|
|
68 |
Income tax benefit |
|
|
(26,670) |
|
|
— |
|
|
(16,584) |
|
|
(43,254) |
Additions to crude oil and natural gas properties and equipment – accrual |
|
|
38,430 |
|
|
187 |
|
|
17 |
|
|
38,634 |
|
| Long-lived Assets From Continuing Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(in thousands) |
|
Gabon |
|
Equatorial Guinea |
|
Corporate and Other |
|
Total |
Long-lived assets from continuing operations: |
|
|
|
|
|
|
|
|
|
|
|
|
As of December 31, 2020 |
|
$ |
26,832 |
|
$ |
10,000 |
|
$ |
204 |
|
$ |
37,036 |
As of December 31, 2019 |
|
$ |
57,930 |
|
$ |
10,000 |
|
$ |
328 |
|
$ |
68,258 |
|
|
|
|
|
|
|
|
|
|
|
|
|
(in thousands) |
|
Gabon |
|
Equatorial Guinea |
|
Corporate and Other |
|
Total |
Total assets from continuing operations: |
|
|
|
|
|
|
|
|
|
|
|
|
As of December 31, 2020 |
|
$ |
101,399 |
|
$ |
10,267 |
|
$ |
29,566 |
|
$ |
141,232 |
As of December 31, 2019 |
|
$ |
151,686 |
|
$ |
10,087 |
|
$ |
49,764 |
|
$ |
211,537 |
|