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Segment Information | 12 Months Ended
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Dec. 31, 2018
Segment Information [Abstract] |
Segment Information | 5. SEGMENT INFORMATION Our operations are based in Gabon and Equatorial Guinea. Each of our two reportable operating segments is organized and managed based upon geographic location. Our Chief Executive Officer, who is the chief operating decision maker, and management 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 costs which are not allocated to the reportable operating segments. Segment activity of continuing operations for the years ended December 31, 2018, 2017 and 2016 and long-lived assets and segment assets at December 31, 2018 and 2017 are as follows: ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  | Year Ended December 31, 2018
﻿(in thousands) |  | Gabon |  | Equatorial Guinea |  | Corporate and Other |  | Total
﻿Revenues-oil and natural gas sales |  | $ | 104,938 |  | $ | — |  | $ | 5 |  | $ | 104,943
﻿Depreciation, depletion and amortization |  |  | 5,176 |  |  | — |  |  | 420 |  |  | 5,596
﻿Bad debt expense and other |  |  | (77) |  |  | — |  |  | — |  |  | (77)
﻿Operating income (loss) |  |  | 61,930 |  |  | (470) |  |  | (10,173) |  |  | 51,287
﻿Other, net |  |  | 92 |  |  | (4) |  |  | 4,244 |  |  | 4,332
﻿Interest expense, net |  |  | (396) |  |  | — |  |  | 251 |  |  | (145)
﻿Income tax benefit |  |  | (26,670) |  |  | — |  |  | (16,584) |  |  | (43,254)
﻿Additions to oil and natural gas properties and equipment - accrual |  |  | 38,430 |  |  | 187 |  |  | 17 |  |  | 38,634
﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  | Year Ended December 31, 2017
﻿(in thousands) |  | Gabon |  | Equatorial Guinea |  | Corporate and Other |  | Total
﻿Revenues-oil and natural gas sales |  | $ | 76,978 |  | $ | — |  | $ | 47 |  | $ | 77,025
﻿Depreciation, depletion and amortization |  |  | 6,196 |  |  | — |  |  | 261 |  |  | 6,457
﻿Bad debt expense and other |  |  | 452 |  |  | — |  |  | — |  |  | 452
﻿Operating income (loss) |  |  | 28,488 |  |  | (122) |  |  | (8,415) |  |  | 19,951
﻿Other, net |  |  | 3,142 |  |  | 15 |  |  | (1,044) |  |  | 2,113
﻿Interest expense, net |  |  | (1,414) |  |  | — |  |  | — |  |  | (1,414)
﻿Income tax expense (benefit) |  |  | 11,638 |  |  | — |  |  | (1,260) |  |  | 10,378
﻿Additions to oil and natural gas properties and equipment - accrual |  |  | 1,576 |  |  | — |  |  | 126 |  |  | 1,702
﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  | Year Ended December 31, 2016
﻿(in thousands) |  | Gabon |  | Equatorial Guinea |  | Corporate and Other |  | Total
﻿Revenues-oil and natural gas sales |  | $ | 59,460 |  | $ | — |  | $ | 324 |  | $ | 59,784
﻿Depreciation, depletion and amortization |  |  | 6,531 |  |  | — |  |  | 395 |  |  | 6,926
﻿Impairment of proved properties |  |  | — |  |  | — |  |  | 88 |  |  | 88
﻿Bad debt expense and other |  |  | 1,222 |  |  | — |  |  | — |  |  | 1,222
﻿Operating income (loss) |  |  | 3,901 |  |  | (384) |  |  | (7,908) |  |  | (4,391)
﻿Other, net |  |  | (22) |  |  | (8) |  |  | (1,985) |  |  | (2,015)
﻿Interest expense, net |  |  | (2,614) |  |  | — |  |  | 1 |  |  | (2,613)
﻿Income tax expense |  |  | 9,248 |  |  | — |  |  | — |  |  | 9,248
﻿Additions to oil and natural gas properties and equipment - accrual |  |  | (4,242) |  |  | — |  |  | 181 |  |  | (4,061)
﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿(in thousands) |  | Gabon |  | Equatorial Guinea |  | Corporate and Other |  | Total
﻿Long-lived assets from continuing operations: |  |  |  |  |  |  |  |  |  |  |  |
﻿As of December 31, 2018 |  | $ | 42,195 |  | $ | 10,187 |  | $ | 342 |  | $ | 52,724
﻿As of December 31, 2017 |  |  | 12,638 |  |  | 10,000 |  |  | 583 |  |  | 23,221
﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿(in thousands) |  | Gabon |  | Equatorial Guinea |  | Corporate and Other |  | Total
﻿Total assets from continuing operations: |  |  |  |  |  |  |  |  |  |  |  |
﻿As of December 31, 2018 |  | $ | 103,401 |  | $ | 10,320 |  | $ | 49,301 |  | $ | 163,022
﻿As of December 31, 2017 |  |  | 63,121 |  |  | 10,095 |  |  | 3,581 |  |  | 76,797
Information about our most significant customers For the years ended December 31, 2018, 2017 and 2016, we 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 purchaser was Glencore Energy UK Ltd. (“Glencore”) for these periods and through January 2019. Sales of oil to Glencore were approximately 100% of revenues sold to customers for 2018, 2017 and 2016. We have signed a new contract with Mercuria Energy Trading SA which covers sales from February 2019 through January 2020.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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