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Segment Information | 12 Months Ended
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Dec. 31, 2015
Segment Information [Abstract] |
Segment Information | 13. SEGMENT INFORMATION Our operations are based in Gabon, Angola, Equatorial Guinea and the U.S. Each of our four reportable operating segments is organized and managed based upon geographic location. Our Chief Executive Officer, who is the chief operating decision maker, and m anagement review and evaluate the operation of each geographic segment separately primarily based on Operating income (loss). The operations of all segments include exploration for and production of hydrocarbons where commercial reserves have been found and developed. Revenues are based on the location of hydrocarbon production. Corporate and other is primarily corporate and operations support not allocated to the reportable operating segments. Segment activity for the years 2015, 2014 and 2013 and long-lived assets and segment assets at December 31, 2015 and 2014 are as follows:
|  | Year Ended December 31, 2015
|  |  |  |  |  |  |  | Equatorial |  |  |  |  | Corporate |  |  |
(in thousands) |  | Gabon |  | Angola |  | Guinea |  | U.S. |  | and Other |  | Total
Revenues-oil and natural gas sales |  | $ | 79,947 |  | $ | - |  | $ | - |  | $ | 498 |  | $ | - |  | $ | 80,445
Depreciation, depletion and amortization |  |  | 32,125 |  |  | 12 |  |  | - |  |  | 633 |  |  | 240 |  |  | 33,010
Impairment of proved properties |  |  | 78,080 |  |  | - |  |  | - |  |  | 3,242 |  |  | - |  |  | 81,322
Bad debt expense and other |  |  | 2,968 |  |  |  |  |  | - |  |  | - |  |  | - |  |  | 2,968
Operating loss |  |  | (87,243) |  |  | (40,447) |  |  | (1,342) |  |  | (4,366) |  |  | (10,155) |  |  | (143,553)
Interest income (expense), net |  |  | (1,144) |  |  | - |  |  | - |  |  | - |  |  | (181) |  |  | (1,325)
Income tax expense |  |  | 13,238 |  |  | - |  |  | - |  |  | - |  |  | 1,349 |  |  | 14,587
Additions to property and equipment |  |  | 66,269 |  |  | - |  |  | - |  |  | - |  |  | 150 |  |  | 66,419
|  | Year Ended December 31, 2014
|  |  |  |  |  |  |  | Equatorial |  |  |  |  | Corporate |  |  |
(in thousands) |  | Gabon |  | Angola |  | Guinea |  | U.S. |  | and Other |  | Total
Revenues-oil and natural gas sales |  | $ | 126,322 |  | $ | - |  | $ | - |  | $ | 1,369 |  | $ | - |  | $ | 127,691
Depreciation, depletion and amortization |  |  | 19,079 |  |  | 12 |  |  | - |  |  | 901 |  |  | 94 |  |  | 20,086
Impairment of proved properties |  |  | 98,341 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 98,341
Bad debt expense and other |  |  | 2,400 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 2,400
Operating income (loss) |  |  | (42,105) |  |  | (3,798) |  |  | (1,525) |  |  | (119) |  |  | (6,859) |  |  | (54,406)
Interest income (expense), net |  |  | 42 |  |  | - |  |  | - |  |  | - |  |  | 33 |  |  | 75
Income tax expense |  |  | 22,486 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 22,486
Additions to property and equipment |  |  | 83,170 |  |  | 3,117 |  |  | - |  |  | 8 |  |  | 816 |  |  | 87,111
|  | Year Ended December 31, 2013
|  |  |  |  |  |  |  | Equatorial |  |  |  |  | Corporate |  |  |
(in thousands) |  | Gabon |  | Angola |  | Guinea |  | U.S. |  | and Other |  | Total
Revenues-oil and natural gas sales |  | $ | 167,386 |  | $ | - |  | $ | - |  | $ | 1,891 |  | $ | - |  | $ | 169,277
Depreciation, depletion and amortization |  |  | 15,310 |  |  | 28 |  |  | - |  |  | 1,528 |  |  | 63 |  |  | 16,929
Bad debt expense and other |  |  | - |  |  | 3,326 |  |  | - |  |  | - |  |  | - |  |  | 3,326
Operating income (loss) |  |  | 98,795 |  |  | (3,018) |  |  | (768) |  |  | (11,869) |  |  | (5,915) |  |  | 77,225
Interest income (expense), net |  |  | 40 |  |  | - |  |  | - |  |  | - |  |  | 33 |  |  | 73
Income tax expense |  |  | 34,115 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 34,115
Additions to property and equipment |  |  | 53,015 |  |  | 629 |  |  | - |  |  | - |  |  | 47 |  |  | 53,691
|  |  |  |  |  |  |  | Equatorial |  |  |  |  | Corporate |  |  |
(in thousands) |  | Gabon |  | Angola |  | Guinea |  | U.S. |  | and Other |  | Total
Long-lived assets as of December 31, 2015 |  | $ | 21,329 |  | $ | 16 |  | $ | 10,000 |  | $ | 1,234 |  | $ | 794 |  | $ | 33,373
Long-lived assets as of December 31, 2014 |  |  | 76,247 |  |  | 14,645 |  |  | 10,000 |  |  | 6,359 |  |  | 873 |  |  | 108,124
Total assets as of December 31, 2015 |  | $ | 98,858 |  | $ | 10,304 |  | $ | 10,200 |  | $ | 1,470 |  | $ | 3,126 |  | $ | 123,958
Total assets as of December 31, 2014 |  |  | 192,957 |  |  | 22,305 |  |  | 10,197 |  |  | 6,611 |  |  | 16,779 |  |  | 248,849
Information about our most significant customers Prior to the second quarter in 2014, we sold oil from Gabon under contracts with Mercuria Trading NV (“Mercuria”) beginning with the calendar year 2011. Beginning in the second quarter of 2014 and through April 2015, we switched to an agency model by contracting with a third party, The Vitol Group, to sell our crude oil on the spot market for a fixed per barrel fee. Beginning in May 2015, we have sold our crude oil production from Gabon under a term contract with pricing based upon an average of Dated Brent in the month of lifting, adjusted for location and market factors. The contracted purchasers were TOTSA Total Oil Trading SA (“Total”) for May through July of 2015 and Glencore Energy UK Ltd. (“Glencore”) for August through December of 2015. The contract with Glencore U.K. ends in July 2016. Sales of oil to Glencore U.K. and Total were 38% and 27% of total revenues for 2015, respectively, with less than 1% related to U.S. production.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 + Details
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