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SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company’s operations are based in Gabon, Egypt, Cote d'Ivoire, Canada and Equatorial Guinea. Each of the reportable operating segments are organized and managed based upon geographic location. The Company’s Chief Executive Officer, who is the chief operating decision maker (“CODM”) evaluates segment performance based on the operation of each geographic segment separately primarily based on Operating income (loss) and allocates financial and capital resources for each segment predominantly in the annual budget and forecasting process. The CODM also considers budget-to-actual variances on a quarterly basis for the performance measure when making decisions about allocating capital and personnel to the segments.

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 that are not allocated to the reportable operating segments and are shown in the tables to reconcile the business segments to consolidated totals. No transactions occurred between operating segments. “Other operating income (expense)” below are those items that are included in Net income (loss) but are not regularly provided to the CODM, or are reported to the CODM but are not considered to be significant segment expenses.

Due to the quantity of active oil and natural gas purchasers in the markets where it produces hydrocarbons, the Company does not foresee any difficulty with selling its hydrocarbon production at fair market prices.
Segment activity of continuing operations for the years ended December 31, 2024, 2023 and 2022 and long-lived assets and segment assets at December 31, 2024 and 2023 are as follows:
Year ended December 31, 2024
(in thousands)GabonEgyptCanadaEquatorial GuineaCote d'IvoireCorporate and OtherTotal
Revenues:
Crude oil, natural gas and natural gas liquids sales$205,954 $145,966 $31,986 $— $95,082 $— $478,988 
Operating costs and expenses:     
Production expense62,234 50,770 11,301 1,173 38,017 5 163,500 
Exploration expense— 48 — — — — 48 
Depreciation, depletion and amortization50,679 33,458 19,309 — 38,771 817 143,034 
General and administrative expense1,679 70 (206)305 1,701 26,135 29,684 
Credit (recovery) losses and other812 4,813 — 679 — — 6,304 
Total operating costs and expenses115,404 89,159 30,404 2,157 78,489 26,957 342,570 
Other operating income (expense), net(24)— 102 — — — 78 
Operating income (loss)90,526 56,807 1,684 (2,157)16,593 (26,957)136,496 
Other income (expense):     
Derivative instruments gain (loss), net— — — — (533)(212)(745)
Interest (expense) income, net(4,694)(1,489)(46)— 313 2,184 (3,732)
Bargain purchase gain— — — — — 13,532 13,532 
Other income (expense), net(1,635)(204)225 (7)(1)(4,132)(5,754)
Total other income (expense), net(6,329)(1,693)179 (7)(221)11,372 3,301 
Income (loss) before income taxes84,197 55,114 1,863 (2,164)16,372 (15,585)139,797 
Income tax expense48,026 30,648 — — 4,229 (1,596)81,307 
Net income (loss)$36,171 $24,466 $1,863 $(2,164)$12,143 $(13,989)$58,490 
Consolidated capital expenditures$22,579 $11,364 $25,828 $641 $44,435 $4,592 $109,438 
Year Ended December 31, 2023
(in thousands)GabonEgyptCanadaEquatorial GuineaCorporate and OtherTotal
Revenues:
Crude oil, natural gas and natural gas liquids sales$260,346 $161,049 $33,671 $— $— $455,066 
Operating costs and expenses:     
Production expense87,131 54,779 9,463 1,481 303 153,157 
FPSO demobilization and other costs7,484 — — — — 7,484 
Exploration expense51 1,914 — — — 1,965 
Depreciation, depletion and amortization62,622 35,095 17,398 — 187 115,302 
General and administrative expense1,769 974 — 416 20,681 23,840 
Credit (recovery) losses and other(10,596)5,182 — 508 — (4,906)
Total operating costs and expenses148,461 97,944 26,861 2,405 21,171 296,842 
Other operating income (expense), net(55)(241)729 — — 433 
Operating income (loss)111,830 62,864 7,539 (2,405)(21,171)158,657 
Other income (expense):     
Derivative instruments gain (loss), net— — — — 232 232 
Interest (expense) income, net(5,563)(2,110)(4)— 1,225 (6,452)
Other expense, net(820)— 2 (6)(1,482)(2,306)
Total other income (expense), net(6,383)(2,110)(2)(6)(25)(8,526)
Income (loss) before income taxes105,447 60,754 7,537 (2,411)(21,196)150,131 
Income tax (benefit) expense50,692 32,859 - — 6,226 89,777 
Net income (loss)$54,755 $27,895 7,537 (2,411)$(27,422)$60,354 
Consolidated capital expenditures (1)
$17,011 $37,866 16,809 — $950 $72,636 
(1)Includes assets acquired in the TransGlobe acquisition.
Year Ended December 31, 2022
(in thousands)GabonEgyptCanadaEquatorial GuineaCorporate and OtherTotal
Revenues:
Crude oil, natural gas and natural gas liquids sales$306,775 $37,710 $9,841 $— $— $354,326 
Operating costs and expenses:
Production expense96,854 11,936 1,972 1,899 — 112,661 
FPSO demobilization and other costs8,867 — — — — 8,867 
Exploration expense258 — — — — 258 
Depreciation, depletion and amortization34,651 10,444 2,921 — 127 48,143 
General and administrative expense3,101 — — 538 6,438 10,077 
Credit (recovery) losses and other2,743 — — 339 — 3,082 
Total operating costs and expenses146,474 22,380 4,893 2,776 6,565 183,088 
Other operating income (expense), net38 — — — — 38 
Operating income (loss)160,339 15,330 4,948 (2,776)(6,565)171,276 
Other income (expense):
Derivative instruments loss, net— — 13 — (37,825)(37,812)
Interest income, net(1,446)(596)— — 8 (2,034)
Other income (expense), net(1,484)— — — (6,636)(8,120)
Total other income (expense), net(2,930)(596)13 — (44,453)(47,966)
Income (loss) before income taxes157,409 14,734 4,961 (2,776)(51,018)123,310 
Income tax (benefit) expense68,509 6,254 — 1 (3,344)71,420 
Net income (loss)$88,900 $8,480 $4,961 $(2,777)$(47,674)$51,890 
Consolidated capital expenditures$162,375 $168,012 $103,263 $— $710 $434,360 
(in thousands)GabonEgyptCanadaEquatorial GuineaCote d'IvoireCorporate and OtherTotal
Long-lived assets:
As of December 31, 2024$153,576 $149,129 $104,891 $10,641 $114,756 $5,110 $538,103 
As of December 31, 2023$171,787 $171,224 $105,189 $10,000 $— $1,586 $459,786 
(in thousands)GabonEgyptCanadaEquatorial GuineaCote d'IvoireCorporate and OtherTotal
Total assets:
As of December 31, 2024$300,568 $269,905 $113,310 $12,331 $187,264 $71,572 $954,950 
As of December 31, 2023$309,394 $263,015 $114,215 $11,327 $— $125,265 $823,216