| Segment and Geographic Reporting |
Segment and Geographic Reporting The Company is primarily engaged in the exploration and production of oil and natural gas. The Company’s reportable segments are Colombia, Peru and Brazil based on geographic organization. The All Other category represents the Company’s corporate activities. The Company evaluates reportable segment performance based on income or loss before income taxes.
The following tables present information on the Company’s reportable segments and other activities: | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2016 | (Thousands of U.S. Dollars) | Colombia | | Peru | | Brazil | | All Other | | Total | Oil and natural gas sales | $ | 56,300 |
| | $ | — |
| | $ | 1,103 |
| | $ | — |
| | $ | 57,403 |
| Interest income | 229 |
| | 5 |
| | 12 |
| | 203 |
| | 449 |
| Depletion, depreciation and accretion | 35,736 |
| | 141 |
| | 718 |
| | 317 |
| | 36,912 |
| Asset impairment | 55,232 |
| | 416 |
| | 1,250 |
| | — |
| | 56,898 |
| General and administrative expenses | 3,265 |
| | 409 |
| | 292 |
| | 4,839 |
| | 8,805 |
| (Loss) income before income taxes | (72,721 | ) | | (712 | ) | | (1,509 | ) | | 4,797 |
| | (70,145 | ) | Segment capital expenditures(1) | 21,986 |
| | 1,268 |
| | 2,720 |
| | 206 |
| | 26,180 |
| | Three Months Ended March 31, 2015 | (Thousands of U.S. Dollars) | Colombia | | Peru | | Brazil | | All Other | | Total | Oil and natural gas sales | $ | 74,067 |
| | $ | — |
| | $ | 2,164 |
| | $ | — |
| | $ | 76,231 |
| Interest income | 67 |
| | — |
| | 140 |
| | 214 |
| | 421 |
| Depletion, depreciation and accretion | 46,255 |
| | 267 |
| | 2,261 |
| | 357 |
| | 49,140 |
| Asset impairment | — |
| | 32,681 |
| | 4,333 |
| | — |
| | 37,014 |
| General and administrative expenses | 2,716 |
| | 1,040 |
| | 627 |
| | 2,911 |
| | 7,294 |
| Income (loss) before income taxes | 2,928 |
| | (35,442 | ) | | (6,881 | ) | | (5,402 | ) | | (44,797 | ) | Segment capital expenditures | 21,123 |
| | 37,697 |
| | 13,907 |
| | 719 |
| | 73,446 |
|
(1) On January 13, 2016, the Company acquired all of the issued and outstanding common shares of Petroamerica, which acquisition was accounted for as a business combination (Note 3) and, therefore, property, plant and equipment acquired are not reflected in the table above. Additionally, on January 25, 2016, the Company acquired all of the issued and outstanding common shares of PetroGranada Colombia Limited ("PGC"), which acquisition was accounted for as an asset acquisition (Note 5) and property, plant and equipment acquired in this acquisition are not reflected in the table above. | | | | | | | | | | | | | | | | | | | | | | As at March 31, 2016 | (Thousands of U.S. Dollars) | Colombia | | Peru | | Brazil | | All Other | | Total | Property, plant and equipment | $ | 638,097 |
| | $ | 95,867 |
| | $ | 116,314 |
| | $ | 3,912 |
| | $ | 854,190 |
| Goodwill | 102,581 |
| | — |
| | — |
| | — |
| | 102,581 |
| All other assets | 141,741 |
| | 21,208 |
| | 1,873 |
| | 26,679 |
| | 191,501 |
| Total Assets | $ | 882,419 |
| | $ | 117,075 |
| | $ | 118,187 |
| | $ | 30,591 |
| | $ | 1,148,272 |
| | | | | | | | | | | | As at December 31, 2015 | (Thousands of U.S. Dollars) | Colombia | | Peru | | Brazil | | All Other | | Total | Property, plant and equipment | $ | 574,351 |
| | $ | 95,069 |
| | $ | 115,552 |
| | $ | 4,021 |
| | $ | 788,993 |
| Goodwill | 102,581 |
| | — |
| | — |
| | — |
| | 102,581 |
| All other assets | 93,479 |
| | 21,111 |
| | 2,236 |
| | 137,718 |
| | 254,544 |
| Total Assets | $ | 770,411 |
| | $ | 116,180 |
| | $ | 117,788 |
| | $ | 141,739 |
| | $ | 1,146,118 |
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