Quarterly report pursuant to Section 13 or 15(d)

Segment Information

 v2.3.0.11
Segment Information
6 Months Ended
Jun. 30, 2011
Segment Information  
Segment Information
6. SEGMENT INFORMATION

The Company's operations are based in Gabon, Angola, the British North Sea and in 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. 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 months and six months ended June 30, 2011 and 2010 are as follows: (in thousands)

 

     Gabon      Angola     North
Sea
    USA     Corporate
and Other
    Total  

Three months ended June 30,

             

2011

             

Revenues

   $ 58,531       $ —        $ —        $ 16      $ —        $ 58,547   

Income (loss) from operations

     46,057         (476     (72     (341     (2,656     42,512   

2010

             

Revenues

   $ 33,647       $ —        $ —        $ 28      $ —        $ 33,675   

Income (loss) from operations

     22,446         (414     (91     9        (1,857     20,093   
     Gabon      Angola     North
Sea
    USA     Corporate
and Other
    Total  

Six months ended June 30,

             

2011

             

Revenues

   $ 105,267       $ —        $ —        $ 52      $ —        $ 105,319   

Income (loss) from operations

     81,058         (931     (198     (717     (5,359     73,853   

2010

             

Revenues

   $ 63,616       $ —        $ —        $ 65      $ —        $ 63,681   

Income (loss) from operations

     42,665         (1,266     (208     11        (3,230     37,972