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REVENUE (Tables) | 12 Months Ended
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Dec. 31, 2024
Revenues [Abstract] |
Schedule of Disaggregation of Revenue | The following table presents revenues in Gabon from contracts with customers as well as revenues associated with the obligations under the Etame PSC:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Revenues from customer contracts: | (in thousands)
Sales under the COSPA or COSMA | $ | 205,965 |  |  | $ | 261,801 |  |  | $ | 320,522 |
Other items reported in revenue not associated with customer contracts: |  |  |  |  |
Gabonese government share of Profit Oil taken in-kind | 30,256 |  |  | 32,776 |  |  | 26,257 |
Carried interest recoupment | 2,276 |  |  | 5,301 |  |  | 5,843 |
Royalties | (32,543) |  |  | (39,532) |  |  | (45,847) |
Net revenues | $ | 205,954 |  |  | $ | 260,346 |  |  | $ | 306,775 |
The following table presents revenues in Egypt from contracts with customers:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Revenues from customer contracts: | (in thousands)
Gross sales | $ | 250,946 |  |  | $ | 272,613 |  |  | $ | 56,452 |
Royalties | (104,449) |  |  | (110,569) |  |  | (18,742) |
Selling costs | (531) |  |  | (995) |  |  | — |
Net revenues | $ | 145,966 |  |  | $ | 161,049 |  |  | $ | 37,710 |
The following table presents revenues in Canada from contracts with customers:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Revenues from customer contracts: | (in thousands)
Oil revenue | $ | 28,418 |  |  | $ | 28,287 |  |  | $ | 7,362 |
Gas revenue | 1,849 |  |  | 3,467 |  |  | 1,340 |
NGL revenue | 7,646 |  |  | 8,440 |  |  | 2,235 |
Other revenue | 213 |  |  | — |  |  | 41 |
Royalties | (5,009) |  |  | (5,821) |  |  | (1,137) |
Selling costs | (1,131) |  |  | (702) |  |  | — |
Net revenues | $ | 31,986 |  |  | $ | 33,671 |  |  | $ | 9,841 |
The following table presents revenues in Cote d'Ivoire from contracts with customers:
|  |  | Year Ended December 31,
|  |  |  |  | 2024 |  |
Revenues from customer contracts: |  |  |  | (in thousands)
Sales under the sales and purchase agreements |  |  |  |  | $ | 87,870 |  |  |
Other item reported in revenue not associated with customer contracts: |  |  |  |  |  |  |
Cote d’Ivoire government share of Profit Oil taken in-kind |  |  |  |  | 7,212 |  |  |
Net revenues |  |  |  |  | $ | 95,082 |  |  |
For the years ended December 31, 2024, 2023 and 2022, our revenue concentration by customer for each operating segment are shown on the table below.
| Year Ended December 31,
| 2024 (1) |  | 2023 |  | 2022 (2)
Gabon | 100% |  | 100% |  | 100%
Egypt | 100% |  | 62% and 38% |  | 100%
Cote d'Ivoire | 87% and 13% |  | —% |  | —%
Canada | 41%, 32% and 21% |  | 52%, 37% and 7% |  | 54%, 32% and 14%
(1)For Cote d'Ivoire, reflects sales from April 30, 2024 through December 31, 2024 related to the Svenska Acquisition. (2)For Egypt and Canada, reflects sales from October 14, 2022 through December 31, 2022 related to the TransGlobe Acquisition.

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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-5 + Details
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