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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2013
Provision for Income Taxes | Provision for income taxes consists of the following:
(in thousands) | Year Ended December 31, |
| 2013 |  |  | 2012 |  |  | 2011 |
U.S. Federal: |  |  |  |  |  |  |  |  |  |  |
Current | $ | - |  |  | $ | - |  |  | $ | - |
Deferred |  | - |  |  |  | - |  |  |  | - |
Foreign: |  |  |  |  |  |  |  |  |  |  |
Current |  | 34,115 |  |  |  | 81,813 |  |  |  | 93,468 |
Deferred |  | - |  |  |  | - |  |  |  | - |
Total | $ | 34,115 |  |  | $ | 81,813 |  |  | $ | 93,468 |
Summary of Differences between the Financial Statement and Tax Bases of Assets and Liabilities | The primary differences between the financial statement and tax bases of assets and liabilities at December 31, 2013 and 2012 are as follows: (In thousands)
| 2013 |  |  | 2012 |
Deferred Tax Assets: |  |  |  |  |  |  |
Basis difference in fixed assets | $ | 31,440 |  |  | $ | 30,619 |
Foreign tax credit carry forward |  | 55,908 |  |  |  | 23,836 |
Alternative minimum tax credit carryover |  | 1,349 |  |  |  | 1,349 |
Foreign net operating losses |  | 42,688 |  |  |  | 38,782 |
Asset retirement obligations |  | 4,012 |  |  |  | 3,629 |
Other |  | 3,300 |  |  |  | 2,731 |
| $ | 138,697 |  |  | $ | 100,946 |
Valuation allowance |  | (137,348 | ) |  |  | (99,597 | )
Total deferred tax asset | $ | 1,349 |  |  | $ | 1,349 |
Pretax Income | Pretax income (loss) is comprised of the following:
(in thousands) | Year Ended December 31, |
| 2013 |  |  | 2012 |  |  | 2011 |
United States | $ | (17,649 | ) |  | $ | (56,979 | ) |  | $ | (16,282 | )
Foreign |  | 94,836 |  |  |  | 144,131 |  |  |  | 150,312 |
| $ | 77,187 |  |  | $ | 87,152 |  |  | $ | 134,030 |
Statutory Rate Reconciliation | The statutory rate reconciliation is as follows:
(In Thousands) | Year Ended December 31, |
| 2013 |  |  | 2012 |  |  | 2011 |
Tax Provision Computed at Statutory Rate |  | 27,015 |  |  | $ | 30,503 |  |  | $ | 46,911 |
Foreign taxes not offset in U.S. by foreign tax credits |  | (2,072 | ) |  |  | 25,266 |  |  |  | 28,414 |
Permanent Differences |  | 973 |  |  |  | 2,370 |  |  |  | - |
Foreign Tax Credit Adjustments |  | (28,027 | ) |  |  |  |  |  |  |  |
Change in Tax Rate on Deferred |  | (0 | ) |  |  | 0 |  |  |  | -2,889 |
Increase/(Decrease) in Valuation Allowance |  | 37,752 |  |  |  | 23,675 |  |  |  | 22,038 |
Other |  | (1,526 | ) |  |  | (0 | ) |  |  | -1,006 |
Total Tax Expense | $ | 34,115 |  |  | $ | 81,813 |  |  | $ | 93,468 |
Income Tax Years Subject to Examination by Major Tax Jurisdictions | The following table summarizes the tax years that remain subject to examination by major tax jurisdictions:
United States | 2008-2013
Gabon | 2007-2013

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- Definition Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 + Details
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