XML 37 R26.htm IDEA: XBRL DOCUMENT v3.25.3
REVENUE (Tables)
 9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The following table presents revenues from contracts with customers as well as revenues associated with the obligations under the Etame PSC.
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Revenues from customer contracts:(in thousands)
Sales under the COSPA or COSMA(1)
$24,287 $54,933 $121,722 $182,048 
Gabonese government share of Profit Oil taken in-kind— — 30,394 — 
Carried interest recoupment495 652 561 1,826 
Royalties(3,511)(7,977)(20,651)(25,088)
Net revenues$21,271 $47,608 $132,026 $158,786 
(1) Crude oil sales and purchase agreements (“COSPAs”) or crude oil sales and marketing agreements (“COSMA or COSMAs”).
The following table presents revenues in Egypt from contracts with customers:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Revenues from customer contracts:(in thousands)
Gross sales$58,271 $63,432 $171,115 $191,938 
Royalties(22,392)(28,714)(67,731)(84,550)
Selling costs(183)(174)(511)(402)
Net revenues$35,696 $34,544 $102,873 $106,986 
The following table presents revenues in Canada from contracts with customers:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Revenues from customer contracts:(in thousands)
Oil revenue$3,278 $8,039 $12,354 $21,739 
Gas revenue196 224 1,404 1,429 
NGL revenue1,386 1,984 4,405 5,835 
Other revenue32 24 119 70 
Royalties(666)(1,533)(2,688)(3,801)
Selling costs(186)(351)(659)(812)
Net revenues$4,040 $8,387 $14,935 $24,460 
The following table presents revenues in Cote d'Ivoire from contracts with customers:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Revenues from customer contracts:(in thousands)
Sales under the sales and purchase agreements$— $49,795 $16,527 $67,035 
Cote d'Ivoire government share of Profit Oil taken in-kind— — 1,869 — 
Net revenues$— $49,795 $18,396 $67,035 
For the three and nine months ended September 30, 2025 and 2024, our revenue concentration by major customers are shown on the table below.
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Gabon100%100%100%100%
Egypt100%100%100%100%
Côte d'Ivoire—%100%100%100%
Canada
49%, 18% and 18%
59%, 22% and 16%
53%, 20% and 15%
44%, 30% and 21%