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CRUDE OIL, NATURAL GAS AND NGLs PROPERTIES AND EQUIPMENT, NET | 12 Months Ended
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Dec. 31, 2024
Property, Plant and Equipment [Abstract] |
CRUDE OIL, NATURAL GAS AND NGLs PROPERTIES AND EQUIPMENT, NET | CRUDE OIL, NATURAL GAS AND NGLs PROPERTIES AND EQUIPMENT, NET The Company’s crude oil, natural gas and NGLs properties and equipment, net, at December 31, 2024 and 2023, respectively, is comprised of the following:
|  | 2024 |  | 2023
|  | (in thousands)
Crude oil, natural gas and NGLs properties and equipment, net |  |  |  |
Wells, platforms and other production facilities |  | $ | 1,593,243 |  |  | $ | 1,468,542 |
Work-in-progress |  | 44,517 |  |  | 4,183 |
Unproved properties |  | 60,761 |  |  | 52,109 |
Capitalized equipment, spare parts and other |  | 75,581 |  |  | 47,794 |
|  | 1,774,102 |  |  | 1,572,628 |
Accumulated depreciation, depletion, amortization and impairment |  | (1,235,999) |  |  | (1,112,842) |
Crude oil, natural gas and NGLs properties and equipment, net |  | $ | 538,103 |  |  | $ | 459,786 |
Unproved property costs See the table below for the list of unproved property costs at December 31, 2024 and 2023, respectively:
| 2024 |  | 2023
| (in thousands)
Unproved Property Costs |  |  |
Etame Marin Block | $ | 13,735 |  |  | $ | 13,735 |
Equatorial Guinea | 10,000 |  |  | 10,000 |
Egypt | 11,542 |  |  | 11,444 |
Cote d'Ivoire | 12,775 |  |  | — |
Canada | 12,709 |  |  | 16,930 |
Unproved Property Costs | $ | 60,761 |  |  | $ | 52,109 |
Exploration expense During 2024, we had minimal exploration expenses. During 2023, two appraisal wells, both in Egypt, were abandoned and also expensed to Exploration Expense. The impact resulted in $2.0 million of expense during the year ended December 31, 2023.

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- Definition The entire disclosure for properties used in normal conduct of oil and gas exploration and producing operations. This disclosure may include property accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 932 -SubTopic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/932-360/tableOfContent + Details
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- References No definition available. + Details
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