Quarterly report pursuant to Section 13 or 15(d)

Note 4 - Segment Information - Segment Activity of Continuing Operations (Details)

v3.23.3
Note 4 - Segment Information - Segment Activity of Continuing Operations (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Sep. 30, 2023
Sep. 30, 2022
Crude oil, natural gas and natural gas liquids sales $ 116,269     $ 78,097     $ 305,912 $ 257,738
Production expense 39,956     23,312     106,760 67,147
FPSO Demobilization 0     8,867     5,647 8,867
Exploration expense 1,194     56     1,259 250
Depreciation, depletion and amortization 32,538     8,963     94,958 21,827
General and administrative expense 6,216     1,979     16,835 10,507
Credit losses and other 822     1,020     2,437 2,083
Total operating costs and expenses 80,726     44,197     227,896 110,681
Other operating income (expense), net 5     0     (298) (5)
Operating income 35,548     33,900     77,718 147,052
Derivative instruments gain (loss), net (2,320)     3,778     (2,268) (37,522)
Interest expense, net (1,426)     (234)     (5,375) (355)
Other income (expense), net 183     (7,707)     (1,494) (10,514)
Total other expense, net (3,563)     (4,163)     (9,137) (48,391)
Income (loss) from continuing operations before income taxes 31,985     29,737     68,581 98,661
Income tax (benefit) expense 25,844     22,843     52,203 64,467
Income (loss) from continuing operations 6,141     6,894     16,378 34,194
Loss from discontinued operations, net of tax 0     (26)     15 58
Net income 6,141 $ 6,752 $ 3,470 6,868 $ 15,104 $ 12,164 16,363 34,136
Consolidated capital expenditures 25,966 [1]     51,663     63,301 [1] 121,612
Loss from discontinued operations, net of tax 0     26     (15) (58)
Crude oil and natural gas sales 116,269     78,097     305,912 257,738
Production expense 39,956     23,312     106,760 67,147
FPSO Demobilization 0     8,867     5,647 8,867
Results of Operations, Exploration Expense 1,194     56     1,259 250
General and administrative expense 6,216     1,979     16,835 10,507
Total operating costs and expenses 80,726     44,197     227,896 110,681
Derivative instruments loss, net (2,320)     3,778     (2,268) (37,522)
Interest (expense) income, net (1,426)     (234)     (5,375) (355)
Other (expense) income, net 183     (7,707)     (1,494) (10,514)
Total other expense, net (3,563)     (4,163)     (9,137) (48,391)
Income from continuing operations before income taxes 31,985     29,737     68,581 98,661
Income from continuing operations 6,141     6,894     16,378 34,194
Loss from discontinued operations, net of tax 0     (26)     15 58
Net income 6,141 $ 6,752 $ 3,470 6,868 $ 15,104 $ 12,164 16,363 34,136
Consolidated capital expenditures 25,966 [1]     51,663     63,301 [1] 121,612
Other operating income (expense), net 5     0     (298) (5)
Loss from discontinued operations, net of tax 0     26     (15) (58)
Corporate, Non-Segment [Member]                
Crude oil, natural gas and natural gas liquids sales 0     0     0 0
Production expense 299     0     301 0
FPSO Demobilization 0     0     0 0
Exploration expense 0     0     0 0
Depreciation, depletion and amortization 40     23     148 61
General and administrative expense 5,720     944     14,806 8,105
Credit losses and other 0     0     0 0
Total operating costs and expenses 6,059     967     15,255 8,166
Other operating income (expense), net 0     0     0 0
Operating income (6,059)     (967)     (15,255) (8,166)
Derivative instruments gain (loss), net (2,320)     3,778     (2,268) (37,522)
Interest expense, net 215     117     464 160
Other income (expense), net 75     (6,403)     (1,500) (7,714)
Total other expense, net (2,030)     (2,508)     (3,304) (45,076)
Income (loss) from continuing operations before income taxes (8,089)     (3,475)     (18,559) (53,242)
Income tax (benefit) expense 11,783     (2,572)     6,060 (10,205)
Income (loss) from continuing operations (19,872)     (903)     (24,619) (43,037)
Loss from discontinued operations, net of tax 0     (26)     15 58
Net income (19,872)     (929)     (24,634) (43,095)
Consolidated capital expenditures 0 [1]     53     36 [1] 120
Loss from discontinued operations, net of tax 0     26     (15) (58)
Crude oil and natural gas sales 0     0     0 0
Production expense 299     0     301 0
FPSO Demobilization 0     0     0 0
Results of Operations, Exploration Expense 0     0     0 0
General and administrative expense 5,720     944     14,806 8,105
Total operating costs and expenses 6,059     967     15,255 8,166
Derivative instruments loss, net (2,320)     3,778     (2,268) (37,522)
Interest (expense) income, net 215     117     464 160
Other (expense) income, net 75     (6,403)     (1,500) (7,714)
Total other expense, net (2,030)     (2,508)     (3,304) (45,076)
Income from continuing operations before income taxes (8,089)     (3,475)     (18,559) (53,242)
Income from continuing operations (19,872)     (903)     (24,619) (43,037)
Loss from discontinued operations, net of tax 0     (26)     15 58
Net income (19,872)     (929)     (24,634) (43,095)
Consolidated capital expenditures 0 [1]     53     36 [1] 120
Other operating income (expense), net 0     0     0 0
Loss from discontinued operations, net of tax 0     26     (15) (58)
Gabon Segment [Member] | Operating Segments [Member]                
Crude oil, natural gas and natural gas liquids sales 57,275     78,097     171,936 257,738
Production expense 20,731     22,828     59,077 66,269
FPSO Demobilization 0     8,867     5,647 8,867
Exploration expense 0     56     51 250
Depreciation, depletion and amortization 14,583     8,940     43,885 21,766
General and administrative expense 348     915     1,284 2,073
Credit losses and other 684     681     2,137 1,744
Total operating costs and expenses 36,346     42,287     112,081 100,969
Other operating income (expense), net 5     0     (57) (5)
Operating income 20,934     35,810     59,798 156,764
Derivative instruments gain (loss), net 0     0     0 0
Interest expense, net (1,371)     (351)     (4,254) (515)
Other income (expense), net 111     (1,305)     9 (2,799)
Total other expense, net (1,260)     (1,656)     (4,245) (3,314)
Income (loss) from continuing operations before income taxes 19,674     34,154     55,553 153,450
Income tax (benefit) expense 13,173     25,415     36,002 74,671
Income (loss) from continuing operations 6,501     8,739     19,551 78,779
Loss from discontinued operations, net of tax 0     0     (0) (0)
Net income 6,501     8,739     19,551 78,779
Consolidated capital expenditures 10,109 [1]     51,610     15,173 [1] 121,492
Loss from discontinued operations, net of tax 0     0     0 0
Crude oil and natural gas sales 57,275     78,097     171,936 257,738
Production expense 20,731     22,828     59,077 66,269
FPSO Demobilization 0     8,867     5,647 8,867
Results of Operations, Exploration Expense 0     56     51 250
General and administrative expense 348     915     1,284 2,073
Total operating costs and expenses 36,346     42,287     112,081 100,969
Derivative instruments loss, net 0     0     0 0
Interest (expense) income, net (1,371)     (351)     (4,254) (515)
Other (expense) income, net 111     (1,305)     9 (2,799)
Total other expense, net (1,260)     (1,656)     (4,245) (3,314)
Income from continuing operations before income taxes 19,674     34,154     55,553 153,450
Income from continuing operations 6,501     8,739     19,551 78,779
Loss from discontinued operations, net of tax 0     0     (0) (0)
Net income 6,501     8,739     19,551 78,779
Consolidated capital expenditures 10,109 [1]     51,610     15,173 [1] 121,492
Other operating income (expense), net 5     0     (57) (5)
Loss from discontinued operations, net of tax 0     0     0 0
Egypt [Member] | Operating Segments [Member]                
Crude oil, natural gas and natural gas liquids sales 50,307           106,399  
Production expense 16,040           38,239  
FPSO Demobilization 0           0  
Exploration expense 1,194           1,208  
Depreciation, depletion and amortization 12,967           37,519  
General and administrative expense 54           435  
Credit losses and other 0           0  
Total operating costs and expenses 30,255           77,401  
Other operating income (expense), net 0           (241)  
Operating income 20,052           28,757  
Derivative instruments gain (loss), net 0           0  
Interest expense, net (270)           (1,581)  
Other income (expense), net 0           0  
Total other expense, net (270)           (1,581)  
Income (loss) from continuing operations before income taxes 19,782           27,176  
Income tax (benefit) expense 888           10,141  
Income (loss) from continuing operations 18,894           17,035  
Loss from discontinued operations, net of tax 0           (0)  
Net income 18,894           17,035  
Consolidated capital expenditures [1] 11,987           32,084  
Loss from discontinued operations, net of tax 0           0  
Crude oil and natural gas sales 50,307           106,399  
Production expense 16,040           38,239  
FPSO Demobilization 0           0  
Results of Operations, Exploration Expense 1,194           1,208  
General and administrative expense 54           435  
Total operating costs and expenses 30,255           77,401  
Derivative instruments loss, net 0           0  
Interest (expense) income, net (270)           (1,581)  
Other (expense) income, net 0           0  
Total other expense, net (270)           (1,581)  
Income from continuing operations before income taxes 19,782           27,176  
Income from continuing operations 18,894           17,035  
Loss from discontinued operations, net of tax 0           (0)  
Net income 18,894           17,035  
Consolidated capital expenditures [1] 11,987           32,084  
Other operating income (expense), net 0           (241)  
Loss from discontinued operations, net of tax 0           0  
Canada [Member] | Operating Segments [Member]                
Crude oil, natural gas and natural gas liquids sales 8,687           27,577  
Production expense 2,627           8,136  
FPSO Demobilization 0           0  
Exploration expense 0           0  
Depreciation, depletion and amortization 4,948           13,406  
General and administrative expense 0           0  
Credit losses and other 0           0  
Total operating costs and expenses 7,575           21,542  
Other operating income (expense), net 0           0  
Operating income 1,112           6,035  
Derivative instruments gain (loss), net 0           0  
Interest expense, net 0           (4)  
Other income (expense), net 0           1  
Total other expense, net 0           (3)  
Income (loss) from continuing operations before income taxes 1,112           6,032  
Income tax (benefit) expense 0           0  
Income (loss) from continuing operations 1,112           6,032  
Loss from discontinued operations, net of tax 0           (0)  
Net income 1,112           6,032  
Consolidated capital expenditures [1] 3,870           16,008  
Loss from discontinued operations, net of tax 0           0  
Crude oil and natural gas sales 8,687           27,577  
Production expense 2,627           8,136  
FPSO Demobilization 0           0  
Results of Operations, Exploration Expense 0           0  
General and administrative expense 0           0  
Total operating costs and expenses 7,575           21,542  
Derivative instruments loss, net 0           0  
Interest (expense) income, net 0           (4)  
Other (expense) income, net 0           1  
Total other expense, net 0           (3)  
Income from continuing operations before income taxes 1,112           6,032  
Income from continuing operations 1,112           6,032  
Loss from discontinued operations, net of tax 0           (0)  
Net income 1,112           6,032  
Consolidated capital expenditures [1] 3,870           16,008  
Other operating income (expense), net 0           0  
Loss from discontinued operations, net of tax 0           0  
Equatorial Guinea Segment [Member] | Operating Segments [Member]                
Crude oil, natural gas and natural gas liquids sales 0     0     0 0
Production expense 259     484     1,007 878
FPSO Demobilization 0     0     0 0
Exploration expense 0     0     0 0
Depreciation, depletion and amortization 0     0     0 0
General and administrative expense 94     120     310 329
Credit losses and other 138     339     300 339
Total operating costs and expenses 491     943     1,617 1,546
Other operating income (expense), net 0     0     0 0
Operating income (491)     (943)     (1,617) (1,546)
Derivative instruments gain (loss), net 0     0     0 0
Interest expense, net 0     0     0 0
Other income (expense), net (3)     1     (4) (1)
Total other expense, net (3)     1     (4) (1)
Income (loss) from continuing operations before income taxes (494)     (942)     (1,621) (1,547)
Income tax (benefit) expense 0     0     0 1
Income (loss) from continuing operations (494)     (942)     (1,621) (1,548)
Loss from discontinued operations, net of tax 0     0     (0) (0)
Net income (494)     (942)     (1,621) (1,548)
Consolidated capital expenditures 0 [1]     0     0 [1] 0
Loss from discontinued operations, net of tax 0     0     0 0
Crude oil and natural gas sales 0     0     0 0
Production expense 259     484     1,007 878
FPSO Demobilization 0     0     0 0
Results of Operations, Exploration Expense 0     0     0 0
General and administrative expense 94     120     310 329
Total operating costs and expenses 491     943     1,617 1,546
Derivative instruments loss, net 0     0     0 0
Interest (expense) income, net 0     0     0 0
Other (expense) income, net (3)     1     (4) (1)
Total other expense, net (3)     1     (4) (1)
Income from continuing operations before income taxes (494)     (942)     (1,621) (1,547)
Income from continuing operations (494)     (942)     (1,621) (1,548)
Loss from discontinued operations, net of tax 0     0     (0) (0)
Net income (494)     (942)     (1,621) (1,548)
Consolidated capital expenditures 0 [1]     0     0 [1] 0
Other operating income (expense), net 0     0     0 0
Loss from discontinued operations, net of tax $ 0     $ 0     $ 0 $ 0
[1] Excludes assets acquired in the TransGlobe acquisition.