| 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, | | 2025 | | 2024 | | 2025 | | 2024 | | 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 recoupment | 495 | | | 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, | | 2025 | | 2024 | | 2025 | | 2024 | | 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, | | 2025 | | 2024 | | 2025 | | 2024 | | Revenues from customer contracts: | (in thousands) | | Oil revenue | $ | 3,278 | | | $ | 8,039 | | | $ | 12,354 | | | $ | 21,739 | | | Gas revenue | 196 | | | 224 | | | 1,404 | | | 1,429 | | | NGL revenue | 1,386 | | | 1,984 | | | 4,405 | | | 5,835 | | | Other revenue | 32 | | | 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, | | 2025 | | 2024 | | 2025 | | 2024 | | 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, | | 2025 | | 2024 | | 2025 | | 2024 | | Gabon | 100% | | 100% | | 100% | | 100% | | Egypt | 100% | | 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% |
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