Business Segment Information (Tables)

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Schedule of Business Segment Information

	Ghana			Equatorial Guinea			Mauritania / Senegal			U.S. Gulf of Mexico			Corporate & Other			Eliminations			Total
	(in thousands)
Year ended December 31, 2019
Revenues and other income:
Oil and gas revenue	$	738,909		$	300,547		$	—		$	459,960		$	—		$	—		$	1,499,416
Gain on sale of assets	—			—			—			—			10,528			—			10,528
Other income, net	5			—			—			1,194			155,866			(157,100		)	(35		)
Total revenues and other income	738,914			300,547			—			461,154			166,394			(157,100		)	1,509,909
Costs and expenses:
Oil and gas production	188,207			90,607			—			123,799			—			—			402,613
Facilities insurance modifications, net	(24,254		)	—			—			—			—			—			(24,254		)
Exploration expenses	204			13,350			11,181			115,765			40,455			—			180,955
General and administrative	18,618			6,643			8,222			25,456			159,539			(108,468		)	110,010
Depletion, depreciation and amortization	268,866			75,565			62			214,592			4,776			—			563,861
Interest and other financing costs, net(1)	72,226			(634		)	(26,537		)	21,266			95,887			(7,134		)	155,074
Derivatives, net	—			—			—			30,387			41,498			—			71,885
Other expenses, net	40,382			(563		)	12,056			2,691			11,580			(41,498		)	24,648
Total costs and expenses	564,249			184,968			4,984			533,956			353,735			(157,100		)	1,484,792
Income (loss) before income taxes	174,665			115,579			(4,984		)	(72,802		)	(187,341		)	—			25,117
Income tax expense	50,293			49,192			—			(8,419		)	(10,172		)	—			80,894
Net income (loss)	$	124,372		$	66,387		$	(4,984	)	$	(64,383	)	$	(177,169	)	$	—		$	(55,777	)
Consolidated capital expenditures	$	98,285		$	63,798		$	12,556		$	232,891		$	33,206		$	—		$	440,736
As of December 31, 2019
Property and equipment, net	$	1,487,114		$	464,420		$	438,800		$	1,216,453		$	35,545		$	—		$	3,642,332
Total assets	$	1,654,266		$	650,607		$	581,317		$	3,251,420		$	12,144,312		$	(13,964,690	)	$	4,317,232

______________________________________

(1) Interest expense is recorded based on actual third-party and intercompany debt agreements. Capitalized interest is recorded on the business unit where the assets reside.

	Ghana			Equatorial Guinea(1)			Mauritania / Senegal			U.S. Gulf of Mexico(2)			Corporate & Other			Eliminations(3)			Total
	(in thousands)
Year ended December 31, 2018
Revenues and other income:
Oil and gas revenue	$	739,070		$	360,649		$	—		$	147,596		$	—		$	(360,649	)	$	886,666
Gain on sale of assets	—			7,666			—			—			—			—			7,666
Other income, net	(17		)	(238		)	—			11			$	150,635		(142,354		)	8,037
Total revenues and other income	739,053			368,077			—			147,607			150,635			(503,003		)	902,369
Costs and expenses:
Oil and gas production	189,104			73,843			—			30,470			5,153			(73,843		)	224,727
Facilities insurance modifications, net	6,955			—			—			—			—			—			6,955
Exploration expenses	58,276			38,164			7,262			66,962			131,180			(352		)	301,492
General and administrative	19,342			5,351			5,220			10,534			168,542			(109,133		)	99,856
Depletion, depreciation and amortization	265,805			134,983			61			59,835			4,134			(134,983		)	329,835
Interest and other financing costs, net(3)	86,738			(12		)	(25,386		)	7,487			39,483			(7,134		)	101,176
Derivatives, net	—			—			—			(57,615		)	26,185			—			(31,430		)
Loss on equity method investments, net	—			—			—			—			—			(72,881		)	(72,881		)
Other expenses, net	16,414			(814		)	(23		)	598			3,510			(26,186		)	(6,501		)
Total costs and expenses	642,634			251,515			(12,866		)	118,271			378,187			(424,512		)	953,229
Income (loss) before income taxes	96,419			116,562			12,866			29,336			(227,552		)	(78,491		)	(50,860		)
Income tax expense (benefit)	34,494			78,491			—			6,163			2,474			(78,491		)	43,131
Net income (loss)	$	61,925		$	38,071		$	12,866		$	23,173		$	(230,026	)	$	—		$	(93,991	)
Consolidated capital expenditures	$	105,942		$	32,156		$	11,962		$	95,993		$	139,381		$	—		$	385,434
As of December 31, 2018
Property and equipment, net	$	1,698,194		$	3,919		$	411,448		$	1,308,670		$	37,470		$	—		$	3,459,701
Total assets	$	1,930,071		$	55,302		$	536,620		$	3,512,989		$	10,349,488		$	(12,296,281	)	$	4,088,189

______________________________________

(1) Includes our proportionate share of our equity method investment in KTIPI, including our basis difference which is reflected in depletion, depreciation and amortization for the year ended December 31, 2018, except for capital expenditures. See Note 7 - Equity Method Investments for additional information regarding our equity method investments.

(2) Represents activity commencing September 14, 2018, the DGE acquisition date.

(3) Includes elimination of proportionate consolidation amounts recorded for KTIPI to reconcile to (Gain) loss on equity method investments, net as reported in the consolidated statements of operations.

(4) Interest expense is recorded based on actual third-party and intercompany debt agreements. Capitalized interest is recorded on the business unit where the assets reside.

	Ghana			Equatorial Guinea(1)		Mauritania / Senegal			U.S. Gulf of Mexico		Corporate & Other			Eliminations(2)			Total
	(in thousands)
Year ended December 31, 2017
Revenues and other income:
Oil and gas revenue	$	578,139		$	27,308	$	—		$	—	$	—		$	(27,308	)	$	578,139
Gain on sale of assets	—			—		—			—		—			—			—
Other income, net	5			147		—			—		$	219,968		(161,423		)	58,697
Total revenues and other income	578,144			27,455		—			—		219,968			(188,731		)	636,836
Costs and expenses:
Oil and gas production	137,584			7,755		—			—		(10,734		)	(7,755		)	126,850
Facilities insurance modifications, net	(820		)	—		—			—		—			—			(820		)
Exploration expenses	394			86		71,456			—		144,114			—			216,050
General and administrative	14,836			672		8,298			—		138,661			(94,165		)	68,302
Depletion, depreciation and amortization	251,890			11,181		20			—		3,293			(11,181		)	255,203
Interest and other financing costs, net(3)	71,592			—		(16,065		)	—		29,202			(7,134		)	77,595
Derivatives, net	—			—		—			—		59,968			—			59,968
Loss on equity method investments, net	—			—		11,486			—		—			(5,234		)	6,252
Other expenses, net	64,768			—		867			—		(376		)	(59,968		)	5,291
Total costs and expenses	540,244			19,694		76,062			—		364,128			(185,437		)	814,691
Income (loss) before income taxes	37,900			7,761		(76,062		)	—		(144,160		)	(3,294		)	(177,855		)
Income tax expense (benefit)	18,649			3,294		3			—		26,285			(3,294		)	44,937
Net income (loss)	$	19,251		$	4,467	$	(76,065	)	$	—	$	(170,445	)	$	—		$	(222,792	)
Consolidated capital expenditures	$	5,545		$	1,995	$	(80,929	)	$	—	$	130,821		$	—		$	57,432
As of December 31, 2017
Property and equipment, net	$	1,901,127		$	1,908	$	381,422		$	—	$	33,371		$	—		$	2,317,828
Total assets	$	2,263,824		$	237,835	$	570,044		$	—	$	8,671,437		$	(8,550,537	)	$	3,192,603

______________________________________

(1) Includes our proportionate share of our equity method investment in KTIPI, including our basis difference which is reflected in depletion, depreciation and amortization for the year ended December 31, 2017, except for capital expenditures. See Note 7 - Equity Method Investments for additional information regarding our equity method investments.

(2) Includes elimination of proportionate consolidation amounts recorded for KTIPI to reconcile to (Gain) loss on equity method investments, net as reported in the consolidated statements of operations.

(3) Interest expense is recorded based on actual third-party and intercompany debt agreements. Capitalized interest is recorded on the business unit where the assets reside.

	Years Ended December 31,
	2019			2018			2017
	(In thousands)
Consolidated capital expenditures:
Consolidated Statements of Cash Flows - Investing activities:
Oil and gas assets	$	340,217		$	213,806		$	140,495
Other property	11,796			7,935			2,858
Adjustments:
Changes in capital accruals	33,717			26,669			(6,337		)
Exploration expense, excluding unsuccessful well costs and leasehold impairments(1)	93,142			178,293			172,849
Capitalized interest	(28,077		)	(28,331		)	(30,282		)
Proceeds on sale of assets	(16,713		)	(13,703		)	(222,068		)
Other	6,654			765			(83		)
Total consolidated capital expenditures	$	440,736		$	385,434		$	57,432

______________________________________

(1)

Unsuccessful well costs are included in oil and gas assets when incur