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Note 7 - Crude Oil, Natural Gas and NGLs Properties and Equipment (Tables)

6 Months Ended

Jun. 30, 2023

Notes Tables

Property, Plant and Equipment [Table Text Block]

		As of June 30, 2023				As of December 31, 2022
		(in thousands)
Crude oil, natural gas and NGLs properties and equipment - successful efforts method:
Wells, platforms and other production facilities		$	1,446,801			$	1,406,888
Work-in-progress			—				—
Undeveloped acreage			54,346				56,251
Equipment and other			43,835				38,796
			1,544,982				1,501,935
Accumulated depreciation, depletion, amortization and impairment			(1,063,242	)			(1,006,663	)
Net crude oil, natural gas and NGLs properties, equipment and other		$	481,740			$	495,272

Collaborative Arrangement and Arrangement Other than Collaborative [Table Text Block]

Block		Merged Concession				South Ghazalat
Year acquired (1)			2020				2013
Expiry date			2035				2039
Extensions
Exploration			N/A				N/A
Development			+ 5 years				20 + 5 years
Production Tranche (MBopd)			0-25				0-5
Maximum cost oil			40	%			25	%
Excess cost oil - Contractor			15	%			5	%
Depreciation per quarter
Operating			100	%			100	%
Capital			6	%			5	%
Production Sharing Oil:
Contractor			30	%*			17	%
Government			70	%*			83	%

Crude Oil Production [Table Text Block]

*Merged Concession profit oil is set on a scale according to average Brent price and production:
	Crude oil produced (MBopd)
Brent Price ($/bbl)	Less than or equal to 5 MBopd			More than 5 MBopd and less than or equal to 10 MBopd			More than 10 MBopd and less than or equal to 15 MBopd			More than 15 MBopd and less than or equal to 25 MBopd			More than 25 MBopd
	Government %	Contractor %		Government %	Contractor %		Government %	Contractor %		Government %	Contractor %		Government %	Contractor %
Less than or equal to $40/bbl	67	33		68	32		69	31		70	30		71	29
More than $40/bbl and less than or equal to $60/bbl	68	32		69	31		70	30		71	29		72	28
More than $60/bbl and less than or equal to $80/bbl	70	30		71	29		72	28		74	26		76	24
More than $80/bbl and less than or equal to $100/bbl	72.5	27.5		73	27		74	26		76	24		78	22
More than $100/bbl	75	25		76	24		77	23		78	22		80	20

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