In April 2017, the Company completed the sale of the Company’s interests in the East Poplar Dome field in Montana for $0.3 million, resulting in a gain of approximately $0.3 million reported on the line “Other operating income (expense), net” in the results of operations for the year ended December 31, 2017.

In November 2006, the Company signed a production sharing contract for Block 5 offshore Angola (“PSA”). The working interest is 40%, and the Company carries Sonangol P&P for 10% of the work program. On September 30, 2016, the Company notified Sonangol P&P that the Company was withdrawing from the joint operating agreement effective October 31, 2016. On November 30, 2016, the Company notified the national concessionaire, Sonangol E.P., that the Company was withdrawing from the PSA. Further to the decision to withdraw from Angola, the Company has taken actions to close the office in Angola and reduce future activities in Angola. As a result of this strategic shift, the Company classified all the related assets and liabilities as those of discontinued operations in the consolidated balance sheets. The operating results of the Angola segment have been classified as discontinued operations for all periods presented in the consolidated statements of operations. The Company segregated the cash flows attributable to the Angola segment from the cash flows from continuing operations for all periods presented in the consolidated statements of cash flows. The following tables summarize selected financial information related to the Angola segment assets and liabilities as of December 31, 2019 and 2018 and its results of operations for the years ended December 31, 2019, 2018 and 2017.


	Years Ended December 31,
	2019		2018		2017
	(in thousands)
Operating costs and expenses:
Gain on settlement of drilling obligation	$	(7,193)	$	—	$	—
General and administrative expense		344		467		615
Total operating costs, expenses and (recovery)		(6,849)		467		615
Operating income (loss)		6,849		(467)		(615)
Other income (expense):
Other, net		—		(29)		(3)
Total other income (expense)		—		(29)		(3)
Income (loss) from discontinued operations before income taxes		6,849		(496)		(618)
Income tax expense		1,438		—		3
Income (loss) from discontinued operations	$	5,411	$	(496)	$	(621)


	December 31,
	2019		2018
	(in thousands)
ASSETS
Accounts with joint venture owners	$	—	$	3,290
Total current assets		—		3,290
Total assets	$	—	$	3,290

LIABILITIES
Current liabilities:
Accounts payable	$	8	$	73
Accrued liabilities and other		342		15,172
Total current liabilities		350		15,245
Total liabilities	$	350	$	15,245

Under the Block 5 PSA, the Company and the other participating interest owner, Sonangol P&P, were obligated to perform exploration activities that included specified seismic activities and drilling a specified number of wells during each of the exploration phases identified in the Block 5 PSA. The specified seismic activities were completed, and one well, the Kindele #1 well, was drilled

in 2015. The Block 5 PSA provided for a stipulated payment of $10.0 million for each of the three exploration wells that a drilling obligation remained under the terms of the Block 5 PSA, of which the Company’s participating interest share would be $5.0 million per well. The Company reflected an accrual of $15.0 million for a potential payment as of December 31, 2018. In the first quarter of 2019, the Company and Sonangol E.P. entered into a settlement agreement finalizing the Company’s rights, liabilities and outstanding obligations for Block 5 in Angola. Pursuant to the settlement agreement, the Company agreed to pay $4.5 million to Angola National Agency of Petroleum, Gas, and Biofuels, as National Concessionaire, and to eliminate the $3.3 million receivable from Sonangol P&P. The receivable was related to joint interest billings and was reflected as a current asset from discontinued operations at year-end 2018. As a result, the Company adjusted a previously accrued liability and recognized a net of tax non-cash benefit from discontinued operations of $5.7 million in the first quarter of 2019. In July 2019, subsequent to the publication of an executive decree from the Ministry of Mineral Resources and Petroleum, the Company paid the $4.5 million due under the settlement agreement.