Annual report pursuant to Section 13 and 15(d)

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

v3.24.0.1
Note 5 - Segment Information - Segment Activity of Continuing Operations (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2022
Dec. 31, 2021
Crude oil, natural gas and natural gas liquids sales $ 455,066   $ 354,326 $ 199,075
Production expense 153,157   112,661 81,255
FPSO demobilization and other costs 7,484   8,867  
Exploration expense 1,965   258 1,579
Depreciation, depletion and amortization 115,302   48,143 21,060
General and administrative expense 23,840   10,077 14,766
Accounts Receivable, Credit Loss Expense (Reversal) (4,906)   3,082 875
Total operating costs and expenses 296,842   183,088 119,535
Other operating income (expense), net 433   38 (440)
Operating income (loss) 158,657   171,276 79,100
Derivative instruments gain (loss), net 232   (37,812) (22,826)
Interest (expense) income, net (6,452)   (2,034) 10
Other income (expense), net (2,291)   (8,048) 3,494
Total other income (expense), net (8,511)   (47,894) (19,322)
Income (loss) from continuing operations before income taxes 150,146   123,382 59,778
Income tax expense 89,777 $ 71,420 71,420 (22,156)
Income (loss) from continuing operations 60,369   51,962 81,934
Loss from discontinued operations, net of tax (15)   (72) (98)
Net income 60,354   51,890 81,836
Consolidated capital expenditures (1) 72,636 [1]   434,360 [1] 79,221
Crude oil and natural gas sales 455,066   354,326 199,075
Production expense 153,157   112,661 81,255
General and administrative expense 23,840   10,077 14,766
Total operating costs and expenses 296,842   183,088 119,535
Derivative instruments loss, net 232   (37,812) (22,826)
Interest income, net (6,452)   (2,034) 10
Other income (expense), net (2,291)   (8,048) 3,494
Income (loss) from continuing operations before income taxes 150,146   123,382 59,778
Income (loss) from continuing operations 60,369   51,962 81,934
Loss from discontinued operations, net of tax (15)   (72) (98)
Net Income (Loss) Attributable to Parent, Total 60,354   51,890 81,836
Consolidated capital expenditures 72,636 [1]   434,360 [1] 79,221
Corporate, Non-Segment [Member]        
Crude oil, natural gas and natural gas liquids sales 0   0 0
Production expense 303   0 6
FPSO demobilization and other costs 0   0  
Exploration expense 0   0 0
Depreciation, depletion and amortization 187   127 88
General and administrative expense 20,681   6,438 13,144
Accounts Receivable, Credit Loss Expense (Reversal) 0   0 0
Total operating costs and expenses 21,171   6,565 13,238
Other operating income (expense), net 0   0 0
Operating income (loss) (21,171)   (6,565) (13,238)
Derivative instruments gain (loss), net 232   (37,825) (22,826)
Interest (expense) income, net 1,225   8 10
Other income (expense), net (1,467)   (6,564) (3,428)
Total other income (expense), net (10)   (44,381) (26,244)
Income (loss) from continuing operations before income taxes (21,181)   (50,946) (39,482)
Income tax expense 6,226   (3,344) (34,549)
Income (loss) from continuing operations (27,407)   (47,602) (4,933)
Loss from discontinued operations, net of tax (15)   (72) (98)
Net income (27,422)   (47,674) (5,031)
Consolidated capital expenditures (1) 950 [1]   710 [1] 52
Crude oil and natural gas sales 0   0 0
Production expense 303   0 6
General and administrative expense 20,681   6,438 13,144
Total operating costs and expenses 21,171   6,565 13,238
Derivative instruments loss, net 232   (37,825) (22,826)
Interest income, net 1,225   8 10
Other income (expense), net (1,467)   (6,564) (3,428)
Income (loss) from continuing operations before income taxes (21,181)   (50,946) (39,482)
Income (loss) from continuing operations (27,407)   (47,602) (4,933)
Loss from discontinued operations, net of tax (15)   (72) (98)
Net Income (Loss) Attributable to Parent, Total (27,422)   (47,674) (5,031)
Consolidated capital expenditures 950 [1]   710 [1] 52
Gabon Segment [Member] | Operating Segments [Member]        
Crude oil, natural gas and natural gas liquids sales 260,346   306,775 199,075
Production expense 87,131   96,854 80,717
FPSO demobilization and other costs 7,484   8,867  
Exploration expense 51   258 1,579
Depreciation, depletion and amortization 62,622   34,651 20,972
General and administrative expense 1,769   3,101 1,301
Accounts Receivable, Credit Loss Expense (Reversal) (10,596)   2,743 875
Total operating costs and expenses 148,461   146,474 105,444
Other operating income (expense), net (55)   38 (440)
Operating income (loss) 111,830   160,339 93,191
Derivative instruments gain (loss), net       0
Interest (expense) income, net (5,563)   (1,446) 0
Other income (expense), net (820)   (1,484) 6,925
Total other income (expense), net (6,383)   (2,930) 6,925
Income (loss) from continuing operations before income taxes 105,447   157,409 100,116
Income tax expense 50,692   68,509 12,392
Income (loss) from continuing operations 54,755   88,900 87,724
Loss from discontinued operations, net of tax 0   0 0
Net income 54,755   88,900 87,724
Consolidated capital expenditures (1) 17,011 [1]   162,375 [1] 79,169
Crude oil and natural gas sales 260,346   306,775 199,075
Production expense 87,131   96,854 80,717
General and administrative expense 1,769   3,101 1,301
Total operating costs and expenses 148,461   146,474 105,444
Derivative instruments loss, net       0
Interest income, net (5,563)   (1,446) 0
Other income (expense), net (820)   (1,484) 6,925
Income (loss) from continuing operations before income taxes 105,447   157,409 100,116
Income (loss) from continuing operations 54,755   88,900 87,724
Loss from discontinued operations, net of tax 0   0 0
Net Income (Loss) Attributable to Parent, Total 54,755   88,900 87,724
Consolidated capital expenditures 17,011 [1]   162,375 [1] 79,169
Egypt [Member] | Operating Segments [Member]        
Crude oil, natural gas and natural gas liquids sales 161,049   37,710  
Production expense 54,779   11,936  
FPSO demobilization and other costs 0   0  
Exploration expense 1,914   0  
Depreciation, depletion and amortization 35,095   10,444  
General and administrative expense 974   0  
Accounts Receivable, Credit Loss Expense (Reversal) 5,182   0  
Total operating costs and expenses 97,944   22,380  
Other operating income (expense), net (241)   0  
Operating income (loss) 62,864   15,330  
Interest (expense) income, net (2,110)   (596)  
Other income (expense), net 0   0  
Total other income (expense), net (2,110)   (596)  
Income (loss) from continuing operations before income taxes 60,754   14,734  
Income tax expense 32,859   6,254  
Income (loss) from continuing operations 27,895   8,480  
Loss from discontinued operations, net of tax 0   0  
Net income 27,895   8,480  
Consolidated capital expenditures (1) [1] 37,866   168,012  
Crude oil and natural gas sales 161,049   37,710  
Production expense 54,779   11,936  
General and administrative expense 974   0  
Total operating costs and expenses 97,944   22,380  
Interest income, net (2,110)   (596)  
Other income (expense), net 0   0  
Income (loss) from continuing operations before income taxes 60,754   14,734  
Income (loss) from continuing operations 27,895   8,480  
Loss from discontinued operations, net of tax 0   0  
Net Income (Loss) Attributable to Parent, Total 27,895   8,480  
Consolidated capital expenditures [1] 37,866   168,012  
Canada [Member] | Operating Segments [Member]        
Crude oil, natural gas and natural gas liquids sales 33,671   9,841  
Production expense 9,463   1,972  
FPSO demobilization and other costs 0   0  
Exploration expense 0   0  
Depreciation, depletion and amortization 17,398   2,921  
General and administrative expense 0   0  
Accounts Receivable, Credit Loss Expense (Reversal) 0   0  
Total operating costs and expenses 26,861   4,893  
Other operating income (expense), net 729   0  
Operating income (loss) 7,539   4,948  
Derivative instruments gain (loss), net 0   13  
Interest (expense) income, net (4)   0  
Other income (expense), net 2   0  
Total other income (expense), net (2)   13  
Income (loss) from continuing operations before income taxes 7,537   4,961  
Income tax expense 0   0  
Income (loss) from continuing operations 7,537   4,961  
Loss from discontinued operations, net of tax 0   0  
Net income 7,537   4,961  
Consolidated capital expenditures (1) [1] 16,809   103,263  
Crude oil and natural gas sales 33,671   9,841  
Production expense 9,463   1,972  
General and administrative expense 0   0  
Total operating costs and expenses 26,861   4,893  
Derivative instruments loss, net 0   13  
Interest income, net (4)   0  
Other income (expense), net 2   0  
Income (loss) from continuing operations before income taxes 7,537   4,961  
Income (loss) from continuing operations 7,537   4,961  
Loss from discontinued operations, net of tax 0   0  
Net Income (Loss) Attributable to Parent, Total 7,537   4,961  
Consolidated capital expenditures [1] 16,809   103,263  
Equatorial Guinea Segment [Member] | Operating Segments [Member]        
Crude oil, natural gas and natural gas liquids sales 0   0 0
Production expense 1,481   1,899 532
FPSO demobilization and other costs 0   0  
Exploration expense 0   0 0
Depreciation, depletion and amortization 0   0 0
General and administrative expense 416   538 321
Accounts Receivable, Credit Loss Expense (Reversal) 508   339 0
Total operating costs and expenses 2,405   2,776 853
Other operating income (expense), net 0   0 0
Operating income (loss) (2,405)   (2,776) (853)
Derivative instruments gain (loss), net       0
Interest (expense) income, net 0   0 0
Other income (expense), net (6)   0 (3)
Total other income (expense), net (6)   0 (3)
Income (loss) from continuing operations before income taxes (2,411)   (2,776) (856)
Income tax expense 0   1 1
Income (loss) from continuing operations (2,411)   (2,777) (857)
Loss from discontinued operations, net of tax 0   0 0
Net income (2,411)   (2,777) (857)
Consolidated capital expenditures (1) 0 [1]   0 [1] 0
Crude oil and natural gas sales 0   0 0
Production expense 1,481   1,899 532
General and administrative expense 416   538 321
Total operating costs and expenses 2,405   2,776 853
Derivative instruments loss, net       0
Interest income, net 0   0 0
Other income (expense), net (6)   0 (3)
Income (loss) from continuing operations before income taxes (2,411)   (2,776) (856)
Income (loss) from continuing operations (2,411)   (2,777) (857)
Loss from discontinued operations, net of tax 0   0 0
Net Income (Loss) Attributable to Parent, Total (2,411)   (2,777) (857)
Consolidated capital expenditures $ 0 [1]   $ 0 [1] $ 0
[1] Includes assets acquired in the TransGlobe acquisition