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SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Activity of Continuing Operations

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)						Gabon						Egypt						Canada						Equatorial Guinea						Cote d'Ivoire						Corporate and Other						Total
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 expense						62,234						50,770						11,301						1,173						38,017						5						163,500
Exploration expense						—						48						—						—						—						—						48
Depreciation, depletion and amortization						50,679						33,458						19,309						—						38,771						817						143,034
General and administrative expense						1,679						70						(206)						305						1,701						26,135						29,684
Credit (recovery) losses and other						812						4,813						—						679						—						—						6,304
Total operating costs and expenses						115,404						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 taxes						84,197						55,114						1,863						(2,164)						16,372						(15,585)						139,797
Income tax expense						48,026						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)						Gabon						Egypt						Canada						Equatorial Guinea						Corporate and Other						Total
Revenues:
Crude oil, natural gas and natural gas liquids sales						$	260,346					$	161,049					$	33,671					$	—					$	—					$	455,066
Operating costs and expenses:
Production expense						87,131						54,779						9,463						1,481						303						153,157
FPSO demobilization and other costs						7,484						—						—						—						—						7,484
Exploration expense						51						1,914						—						—						—						1,965
Depreciation, depletion and amortization						62,622						35,095						17,398						—						187						115,302
General and administrative expense						1,769						974						—						416						20,681						23,840
Credit (recovery) losses and other						(10,596)						5,182						—						508						—						(4,906)
Total operating costs and expenses						148,461						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 taxes						105,447						60,754						7,537						(2,411)						(21,196)						150,131
Income tax (benefit) expense						50,692						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)						Gabon						Egypt						Canada						Equatorial Guinea						Corporate and Other						Total
Revenues:
Crude oil, natural gas and natural gas liquids sales						$	306,775					$	37,710					$	9,841					$	—					$	—					$	354,326
Operating costs and expenses:
Production expense						96,854						11,936						1,972						1,899						—						112,661
FPSO demobilization and other costs						8,867						—						—						—						—						8,867
Exploration expense						258						—						—						—						—						258
Depreciation, depletion and amortization						34,651						10,444						2,921						—						127						48,143
General and administrative expense						3,101						—						—						538						6,438						10,077
Credit (recovery) losses and other						2,743						—						—						339						—						3,082
Total operating costs and expenses						146,474						22,380						4,893						2,776						6,565						183,088
Other operating income (expense), net						38						—						—						—						—						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 taxes						157,409						14,734						4,961						(2,776)						(51,018)						123,310
Income tax (benefit) expense						68,509						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

Schedule of Long-lived Assets and Segment Assets

(in thousands)						Gabon						Egypt						Canada						Equatorial Guinea						Cote d'Ivoire						Corporate and Other						Total
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)						Gabon						Egypt						Canada						Equatorial Guinea						Cote d'Ivoire						Corporate and Other						Total
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

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Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets.

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-Name Accounting Standards Codification
-Topic 280
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-Section 50
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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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