v3.25.3
SEGMENT INFORMATION (Tables)
9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Schedule of Segment Activity of Continuing Operations
Segment activity of continuing operations for the three and nine months ended September 30, 2025 and 2024, as well as long-lived assets and segment assets at September 30, 2025 and December 31, 2024 are as follows:
Three Months Ended September 30, 2025
(in thousands)GabonEgyptCanadaEquatorial GuineaCôte d'IvoireCorporate and OtherTotal
Revenues: 
Crude oil, natural gas and natural gas liquids sales$21,271 $35,696 $4,040 $— $— $— $61,007 
Operating costs and expenses:
Production expense12,092 13,767 1,922 587 1,504 — 29,872 
Exploration expense167 — — — 186 — 353 
Depreciation, depletion and amortization7,145 9,308 2,832 — 861 409 20,555 
General and administrative expense779 296 46 63 572 7,089 8,845 
Credit losses and other196 — — 288 — — 484 
Total operating costs and expenses20,379 23,371 4,800 938 3,123 7,498 60,109 
Operating income (loss)892 12,325 (760)(938)(3,123)(7,498)898 
Other income (expense):       
Derivative instruments loss, net— — — — — (1,093)(1,093)
Interest expense, net(809)(184)— — (1,085)(255)(2,333)
Other income (expense), net(154)80 (60)3 242 (78)33 
Total other income (expense), net(963)(104)(60)3 (843)(1,426)(3,393)
Income (loss) before income taxes(71)12,221 (820)(935)(3,966)(8,924)(2,495)
Income tax (benefit) expense(3,902)5,671 — — (5,077)(288)(3,596)
Net income (loss)3,831 6,550 (820)(935)1,111 (8,636)1,101 
Consolidated capital expenditures$14,074 $7,113 $490 $(61)$33,484 $309 $55,409 

Nine Months Ended September 30, 2025
(in thousands)GabonEgyptCanadaEquatorial GuineaCôte d'IvoireCorporate and OtherTotal
Revenues: 
Crude oil, natural gas and natural gas liquids sales$132,026 $102,873 $14,935 $— $18,396 $— $268,230 
Operating costs and expenses: 
Production expense59,746 38,898 6,533 1,274 8,618 1 115,070 
Exploration expense167 — — — 2,706 — 2,873 
Depreciation, depletion and amortization33,239 26,579 9,382 — 9,249 684 79,133 
General and administrative expense1,224 399 77 212 1,435 23,046 26,393 
Credit (recovery) losses and other(440)— — 925 — — 485 
Total operating costs and expenses93,936 65,876 15,992 2,411 22,008 23,731 223,954 
Operating income (loss)38,090 36,997 (1,057)(2,411)(3,612)(23,731)44,276 
Other income (expense):       
Derivative instruments loss, net— — — — — (767)(767)
Interest expense, net(2,680)(608)— — (2,373)(538)(6,199)
Other income (expense), net(917)141 338 (2)181 (369)(628)
Total other income (expense), net(3,597)(467)338 (2)(2,192)(1,674)(7,594)
Income (loss) before income taxes34,493 36,530 (719)(2,413)(5,804)(25,405)36,682 
Income tax (benefit) expense10,341 14,201 — — (15,312)10,240 19,470 
Net income (loss)$24,152 $22,329 $(719)$(2,413)$9,508 $(35,645)$17,212 
Consolidated capital expenditures$30,379 $20,954 $2,006 $499 $93,425 $326 $147,589 
Three Months Ended September 30, 2024
(in thousands)GabonEgyptCanadaEquatorial GuineaCote d'IvoireCorporate and OtherTotal
Revenues:
Crude oil, natural gas and natural gas liquids sales$47,608 $34,544 $8,387 $— $49,795 $— $140,334 
Operating costs and expenses:
Production expense13,932 12,477 3,015 195 12,701 4 42,324 
Exploration expense— — — — — — — 
Depreciation, depletion and amortization12,796 8,729 6,106 — 19,184 216 47,031 
General and administrative expense241 (79)(4)62 1,061 5,648 6,929 
Credit losses and other— — — 69 — — 69 
Total operating costs and expenses26,969 21,127 9,117 326 32,946 5,868 96,353 
Other operating income, net— — 102 — — — 102 
Operating income (loss)20,639 13,417 (628)(326)16,849 (5,868)44,083 
Other income (expense):
Derivative instruments gain (loss), net— — — — (169)379 210 
Interest (expense) income, net(964)(360)— — 2,029 (1,293)(588)
Bargain Purchase Gain— — — — — — — 
Other income (expense), net(72)(101)669 (4)(37)(597)(141)
Total other income (expense), net(1,036)(461)670 (4)1,823 (1,511)(519)
Income (loss) before income taxes19,603 12,956 42 (330)18,672 (7,379)43,564 
Income tax expense12,932 3,613 — — 8,454 7,575 32,574 
Net income (loss)$6,671 $9,343 $42 $(330)$10,218 $(14,953)$10,990 
Consolidated capital expenditures $8,859 $1,698 $3,014 $38 $11,158 $1,839 26,606 
Nine Months Ended September 30, 2024
(in thousands)GabonEgyptCanadaEquatorial GuineaCôte d'IvoireCorporate and OtherTotal
Revenues: 
Crude oil, natural gas and natural gas liquids sales$158,786 $106,986 $24,460 $— $67,035 $— $357,267 
Operating costs and expenses:
Production expense49,131 38,652 8,753 712 29,606 5 126,859 
Exploration expense— 48 — — — — 48 
Depreciation, depletion and amortization39,591 25,481 15,297 — 25,233 385 105,987 
General and administrative expense1,194 297 (119)233 1,185 18,440 21,230 
Credit losses and other20 4,812 — 390 — — 5,222 
Total operating costs and expenses89,936 69,290 23,931 1,335 56,024 18,830 259,346 
Other operating income (expense), net(34)— 102 — — — 68 
Operating income (loss)68,816 37,696 631 (1,335)11,011 (18,830)97,989 
Other income (expense):
Derivative instruments loss, net— — — — (169)(211)(380)
Interest (expense) income, net(3,439)(1,120)38 — 489 1,392 (2,640)
Bargain purchase gain— — — — — 19,898 19,898 
Other income (expense), net(303)(101)674 (2)(338)(3,856)(3,925)
Total other income (expense), net(3,742)(1,221)713 (2)(18)17,223 12,953 
Income (loss) before income taxes65,074 36,475 1,344 (1,337)10,993 (1,608)110,942 
Income tax expense38,956 19,395 — — 5,404 360 64,115 
Net income (loss)$26,118 $17,080 $1,344 $(1,337)$5,589 $(1,967)$46,827 
Consolidated capital expenditures$20,248 $7,894 $22,728 $38 $18,310 $3,840 $73,058 
Schedule of Long-lived Assets and Segment Assets
(in thousands)GabonEgyptCanadaEquatorial GuineaCôte d'IvoireCorporate and OtherTotal
Long-lived assets:
As of September 30, 2025$158,534 $143,504 $101,256 $11,140 $204,546 $4,756 $623,736 
As of December 31, 2024$153,576 $149,129 $104,891 $10,641 $114,756 $5,110 $538,103 
(in thousands)GabonEgyptCanadaEquatorial GuineaCôte d'IvoireCorporate and OtherTotal
Total assets:
As of September 30, 2025$290,380 $258,128 $105,756 $13,547 $237,578 $45,044 $950,433 
As of December 31, 2024$300,568 $269,905 $113,310 $12,331 $187,264 $71,572 $954,950