v3.26.1
REVENUE (Tables)
6 Months Ended
Jun. 30, 2026
Revenues [Abstract]  
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
June 30,
Six Months Ended
June 30,
2026202520262025
Revenues from customer contracts:(in thousands)
Sales under the COSPA or COSMA(1)
$101,142 $65,984 $100,974 $97,434 
Gabonese government share of Profit Oil 2,201 1,980 26,738 30,394 
Carried interest recoupment4,241 65 4,241 65 
Royalties and other(15,786)(9,462)(18,754)(17,139)
Net revenues$91,798 $58,567 $113,199 $110,754 
(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
June 30,
Six Months Ended
June 30,
2026202520262025
Revenues from customer contracts:(in thousands)
Gross sales$86,356 $55,188 $152,766 $112,844 
Royalties(42,748)(21,752)(70,058)(45,339)
Selling costs(240)(179)(424)(328)
Net revenues$43,368 $33,257 $82,284 $67,177 
The following table presents revenues in Côte d’Ivoire from contracts with customers:
Three Months Ended
June 30,
Six Months Ended
June 30,
2026202520262025
Revenues from customer contracts:(in thousands)
Sales under the sales and purchase agreements$ $353 $ $16,527 
Côte d’Ivoire government share of Profit Oil taken in-kind —  1,869 
Net revenues$ $353 $ $18,396 
For the three and six months ended June 30, 2026 and 2025, our revenue concentration by major customers is shown in the table below.
Three Months Ended
June 30,
Six Months Ended
June 30,
2026202520262025
Gabon100%100%100%100%
Egypt100%100%100%100%
Côte d’Ivoire—%100%—%100%
Canada—%
59%, 17% and 11%
47%, 16% and 14%
55%, 20% and 15%