The following table presents revenues from contracts with customers as well as revenues associated with the obligations under the Etame PSC. | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | | | | | 2026 | | 2025 | | Revenues from customer contracts: | | | | (in thousands) | Sales under the COSPA or COSMA(1) | | | | | $ | — | | | $ | 31,450 | | | Gabonese government share of Profit Oil taken in-kind | | | | | 24,537 | | | 28,414 | | | | | | | | | | | Royalties and other | | | | | (3,136) | | | (7,677) | | | Net revenues | | | | | $ | 21,401 | | | $ | 52,187 | |
(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 March 31, | | | | | | 2026 | | 2025 | | Revenues from customer contracts: | | | | (in thousands) | | Gross sales | | | | | $ | 66,410 | | | $ | 57,656 | | | Royalties | | | | | (27,310) | | | (23,587) | | | Selling costs | | | | | (184) | | | (149) | | | Net revenues | | | | | $ | 38,916 | | | $ | 33,920 | |
The following table presents revenues in Canada from contracts with customers: | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | | | | | 2026 | | 2025 | | Revenues from customer contracts: | | | | (in thousands) | | Oil revenue | | | | | $ | 1,744 | | | $ | 5,325 | | | Gas revenue | | | | | 368 | | | 636 | | | NGL revenue | | | | | 723 | | | 1,759 | | | Other revenue | | | | | 27 | | | 49 | | | Royalties | | | | | (437) | | | (1,357) | | | Selling costs | | | | | (143) | | | (232) | | | Net revenues | | | | | $ | 2,282 | | | $ | 6,180 | |
The following table presents revenues in Côte d’Ivoire from contracts with customers: | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | | | | | 2026 | | 2025 | | Revenues from customer contracts: | | | | (in thousands) | | Sales under the sales and purchase agreements | | | | | $ | — | | | $ | 16,173 | | | Côte d’Ivoire government share of Profit Oil taken in-kind | | | | | — | | | 1,869 | | | Net revenues | | | | | $ | — | | | $ | 18,042 | |
For the three months ended March 31, 2026 and 2025, our revenue concentration by major customers is shown on the table below. | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | | | | | 2026 | | 2025 | | Gabon | | | | | 100% | | 100% | | Egypt | | | | | 100% | | 100% | | Côte d'Ivoire | | | | | —% | | 100% | | Canada | | | | | 47%, 16% and 14% | | 52%, 23% and 18% |
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