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Supplemental Information On Oil And Gas Producing Activities (Tables) | 12 Months Ended
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Dec. 31, 2015
Supplemental Information On Oil And Gas Producing Activities [Abstract] |
Costs Incurred in Oil and Gas Property - Acquisition, Exploration and Development Activities |
|  | Year Ended December 31,
Costs incurred during the year: |  | 2015 |  | 2014 |  | 2013
International: |  | (in thousands)
Exploration - capitalized |  | $ | - |  | $ | - |  | $ | 2,942
Exploration - expensed |  |  | 28,052 |  |  | 15,358 |  |  | 12,431
Acquisition |  |  | - |  |  | - |  |  | -
Development |  |  | 60,397 |  |  | 79,722 |  |  | 54,420
Total |  | $ | 88,449 |  | $ | 95,080 |  | $ | 69,793
United States: |  |  |  |  |  |  |  |  |
Exploration - capitalized |  | $ | - |  | $ | - |  | $ | -
Exploration - expensed |  |  | - |  |  | - |  |  | 11,497
Acquisition |  |  | - |  |  | - |  |  | -
Development |  |  | - |  |  | 8 |  |  | 113
Total |  | $ | - |  | $ | 8 |  | $ | 11,610
Capitalized Costs Relating to Oil and Gas Producing Activities |
Capitalized costs pertain our producing activities in Gabon and the U.S and to undeveloped leasehold in Gabon, Angola, Equatorial Guinea, and the U.S. |  |  |  |  |  |
|  | December 31,
|  | 2015 |  | 2014
Capitalized costs: |  | (in thousands)
Properties not being amortized |  | $ | 10,000 |  | $ | 47,290
Properties being amortized (1) |  |  | 423,541 |  |  | 347,186
Total capitalized costs |  | $ | 433,541 |  | $ | 394,476
Less accumulated depreciation, depletion, and amortization |  |  | (400,168) |  |  | (289,272)
Net capitalized costs |  | $ | 33,373 |  | $ | 105,204
(1) Includes $8.7 million and $5.2 million asset retirement cost in 2015 and 2014.
Results of Operations for Oil and Gas Producing Activities |
|  | International |  | United States |
|  | Year Ended December 31, |  |  | Year Ended December 31,
|  | 2015 |  | 2014 |  | 2013 |  | 2015 |  | 2014 |  | 2013 |
|  | (in thousands) |
Crude oil and natural gas sales |  | $ | 79,947 |  | $ | 126,322 |  | $ | 167,386 |  | $ | 498 |  | $ | 1,369 |  | $ | 1,891 |
Production and other expense (1) |  |  | (51,959) |  |  | (34,503) |  |  | (38,783) |  |  | (171) |  |  | (467) |  |  | (735) |
Depreciation, depletion and amortization |  |  | (32,137) |  |  | (19,079) |  |  | (15,302) |  |  | (633) |  |  | (901) |  |  | (1,528) |
Exploration expenses |  |  | (45,203) |  |  | (15,358) |  |  | (12,431) |  |  | (1,250) |  |  | - |  |  | (11,497) |
Impairment of proved properties |  |  | (78,080) |  |  | (98,341) |  |  | - |  |  | (3,242) |  |  | - |  |  | - |
Bad debt expense |  |  | (2,700) |  |  | (2,400) |  |  | (1,562) |  |  | - |  |  | - |  |  | - |
Income tax |  |  | (13,238) |  |  | (22,486) |  |  | (34,115) |  |  | (1,349) |  |  | - |  |  | - |
Results from oil and natural gas producing activities |  | $ | (143,370) |  | $ | (65,845) |  | $ | 65,193 |  | $ | (6,147) |  | $ | 1 |  | $ | (11,869) |
(1)Excludes corporate costs, general and administrative expenses and allocated corporate overhead.
Net Proved Reserves |
|  | Oil |  | Natural
Proved reserves: |  | (MBbls) |  | Gas (MMCF)*
Balance at January 1, 2013 |  | 7,488 |  | 1,544
Production |  | (1,549) |  | (325)
Revisions of previous estimates |  | 771 |  | 114
Extensions and discoveries |  | 522 |  | -
Balance at December 31, 2013 |  | 7,232 |  | 1,333
Production |  | (1,351) |  | (227)
Revisions of previous estimates |  | 2,312 |  | 300
Extensions and discoveries |  | 67 |  | -
Balance at December 31, 2014 |  | 8,260 |  | 1,406
Production |  | (1,659) |  | (181)
Revisions of previous estimates |  | (3,746) |  | (172)
Balance at December 31, 2015 |  | 2,855 |  | 1,053
*The natural gas reserves shown as of December 31, 2015 include natural gas liquids (“NGL”) expressed as gas volumes using a ratio of 4.9 MMcf to 1 MBbl of NGL.
|  | Oil |  | Natural
Proved developed reserves: |  | (MBbls) |  | Gas (MMCF)
Balance at January 1, 2013 |  | 3,750 |  | 1,544
Balance at December 31, 2013 |  | 3,305 |  | 1,333
Balance at December 31, 2014 |  | 3,224 |  | 1,406
Balance at December 31, 2015 |  | 2,855 |  | 1,053
Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil Reserves |
|  | International |  | United States |  | Total
|  | December 31, |  | December 31, |  | December 31,
(In thousands) |  | 2015 |  | 2014 |  | 2013 |  | 2015 |  | 2014 |  | 2013 |  | 2015 |  | 2014 |  | 2013
Future cash inflows |  | $ | 140,190 |  | $ | 814,059 |  | $ | 725,485 |  | $ | 3,086 |  | $ | 9,598 |  | $ | 8,276 |  | $ | 143,276 |  | $ | 823,657 |  | $ | 733,761
Future production costs |  |  | (81,973) |  |  | (307,331) |  |  | (223,643) |  |  | (1,644) |  |  | (1,475) |  |  | (3,038) |  |  | (83,617) |  |  | (308,806) |  |  | (226,681)
Future development costs (1) |  |  | (10,900) |  |  | (136,137) |  |  | (164,142) |  |  | (259) |  |  | - |  |  | - |  |  | (11,159) |  |  | (136,137) |  |  | (164,142)
Future income tax expense |  |  | (21,598) |  |  | (177,924) |  |  | (154,519) |  |  | - |  |  | (359) |  |  | (825) |  |  | (21,598) |  |  | (178,283) |  |  | (155,344)
Future net cash flows |  |  | 25,719 |  |  | 192,667 |  |  | 183,181 |  |  | 1,183 |  |  | 7,764 |  |  | 4,413 |  |  | 26,902 |  |  | 200,431 |  |  | 187,594
Discount to present value at 10% annual rate |  |  | 491 |  |  | (47,528) |  |  | (48,859) |  |  | (252) |  |  | (3,516) |  |  | (1,299) |  |  | 239 |  |  | (51,044) |  |  | (50,158)
Standardized measure of discounted future net cash flows |  | $ | 26,210 |  | $ | 145,139 |  | $ | 134,322 |  | $ | 931 |  | $ | 4,248 |  | $ | 3,114 |  | $ | 27,141 |  | $ | 149,387 |  | $ | 137,436
(1)Includes costs expected to be incurred to abandon the properties.
Changes in Standardized Measure of Discounted Future Net Cash Flows |
|  | December 31,
|  | 2015 |  | 2014 |  | 2013
|  | (in thousands)
Balance at beginning of period |  | $ | 149,387 |  | $ | 137,436 |  | $ | 152,902
Sales of oil and natural gas, net of production costs |  |  | (40,349) |  |  | (95,973) |  |  | (132,662)
Net changes in prices and production costs |  |  | (146,536) |  |  | (28,098) |  |  | (52,056)
Revisions of previous quantity estimates |  |  | (104,158) |  |  | 74,497 |  |  | 43,815
Additions |  |  | - |  |  | 2,188 |  |  | 29,620
Changes in estimated future development costs |  |  | (15,604) |  |  | 31,686 |  |  | (5,345)
Development costs incurred during the period |  |  | 60,004 |  |  | - |  |  | 44,389
Accretion of discount |  |  | 27,312 |  |  | 24,163 |  |  | 15,290
Net change of income taxes |  |  | 104,303 |  |  | (15,609) |  |  | 26,120
Change in production rates (timing) and other |  |  | (7,218) |  |  | 19,097 |  |  | 15,363
Balance at end of period |  | $ | 27,141 |  | $ | 149,387 |  | $ | 137,436

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- Definition Tabular disclosure of aggregate capitalized costs relating to an enterprise's oil and gas producing activities and the aggregate related accumulated depreciation, depletion, amortization, and valuation allowances. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=51678428&loc=d3e61901-109447 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 55 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=34713648&loc=d3e63019-109448 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=51678428&loc=d3e61929-109447 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=51678428&loc=d3e61926-109447 + Details
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- Definition Tabular disclosure of the aggregate of costs (whether the costs are capitalized or charged to expense at the time they are incurred ) incurred for the year in oil and gas property acquisition, exploration and development activities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 55 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=34713648&loc=d3e63042-109448 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=51678428&loc=d3e62059-109447 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=51678428&loc=d3e62038-109447 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 18 -URI http://asc.fasb.org/extlink&oid=51678428&loc=d3e62014-109447 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 410 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6392692&loc=d3e7535-110849 + Details
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- Definition Tabular disclosure of the net quantities of an enterprise's interests in proved developed and undeveloped reserves of (a) crude oil (including condensate and natural gas liquids), (b) natural gas (including coal bed methane), (c) synthetic oil, (d) synthetic gas, and (e) other nonrenewable natural resources that are intended to be upgraded during the period as of the beginning of the period, changes in quantities during the period, and as of the end of the period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=51678428&loc=d3e61858-109447 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=51678428&loc=d3e61884-109447 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=51678428&loc=d3e61831-109447 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=51678428&loc=d3e61797-109447 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=51678428&loc=d3e61869-109447 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=51678428&loc=d3e61872-109447 + Details
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