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REVENUE (Tables)

12 Months Ended

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

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- References

No definition available.

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