| Segment Information |
8. SEGMENT INFORMATION
The Company’s operations are based in Gabon, Angola, Equatorial Guinea and the United States. Management reviews and evaluates the operation of each geographic segment separately. The operations of all segments include exploration for and production of hydrocarbons where commercial reserves have been found and developed. The accounting policies of the reportable segments are the same as in Note 1. Revenues are based on the location of hydrocarbon production. The Company evaluates each segment based on income (loss) from operations.
Segment activity for the three and nine months ended September 30, 2014 and 2013 are as follows:
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Corporate
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Gabon
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Angola
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Equatorial Guinea
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USA
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and Other
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Total
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Three Months Ended September 30,
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2014
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Revenues
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$
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24,132
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$
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-
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$
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-
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$
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354
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$
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24,486
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Income (loss) from operations
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10,326
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(1,319
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)
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(254
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(100
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)
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(1,966
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)
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6,687
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2013
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Revenues
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$
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37,253
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$
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-
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$
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-
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$
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487
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$
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-
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$
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37,740
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Income (loss) from operations
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14,156
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(538
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)
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(149
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(4,754
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)
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(611
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)
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8,104
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Corporate
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Gabon
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Angola
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Equatorial Guinea
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USA
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and Other
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Total
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Nine Months Ended September 30,
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2014
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Revenues
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$
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103,507
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$
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-
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$
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-
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$
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1,152
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$
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-
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$
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104,659
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Income (loss) from operations
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49,239
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(3,165
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)
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(591
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(33
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)
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(5,580
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)
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39,870
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2013
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Revenues
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$
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109,482
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$
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-
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$
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-
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$
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1,513
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$
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-
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$
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110,995
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Income (loss) from operations
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59,871
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(2,120
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)
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(604
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(11,782
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)
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(4,091
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)
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41,274
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Corporate
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Total Assets
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Gabon
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Angola
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Equatorial Guinea
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USA
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and Other
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Total
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As of September 30, 2014
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$
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302,356
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$
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15,066
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$
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10,223
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$
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9,497
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$
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25,714
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$
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362,856
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As of December 31, 2013
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256,033
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12,204
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10,059
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9,660
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20,211
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308,167
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