Erin Energy (ERINQ) 10-Q 8 May 15 2015 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Mar. 31, 2015	1-May-15
Document And Entity Information [Abstract]
Entity Registrant Name	Erin Energy Corp.
Entity Central Index Key	1402281
Current Fiscal Year End Date	-19
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Amendment Flag	FALSE
Entity Common Stock, Shares Outstanding		210,963,564

CONSOLIDATED_BALANCE_SHEETS_Un

CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Current Assets:
Cash and cash equivalents	$7,741	$25,143
Restricted cash	10,266	1,496
Accounts receivable - partners	0	496
Accounts receivable - related party	624	624
Accounts receivable - other	52	54
Crude oil inventory	1,065	1,089
Prepaids and other current assets	3,819	2,929
Total current assets	23,567	31,831
Property, plant and equipment:
Oil and gas properties (successful efforts method of accounting), net	663,234	595,269
Other property, plant and equipment, net	1,115	1,060
Total property, plant and equipment, net	664,349	596,329
Other non-current assets [Abstract]
Restricted cash	0	8,909
Debt issuance costs	1,153	1,307
Other non-current assets	67	67
Other assets, net	1,220	10,283
Total assets	689,136	638,443
Current Liabilities:
Accounts payable and accrued liabilities	156,147	108,047
Accounts payable and accrued liabilities - related party	15,617	9,391
Accounts payable - partners	397	0
Asset retirement obligations	6,705	12,703
Current portion of long-term debt	12,307	6,200
Total current liabilities	191,173	136,341
Long-term notes payable - related party	93,050	61,185
Term loan facility	86,150	93,000
Asset retirement obligations, long-term portion	14,123	13,830
Other long-term liabilities	81	82
Total liabilities	384,577	304,438
Commitments and contingencies
Equity:
Preferred stock $0.001 par value - 50,000,000 shares authorized; none issued and outstanding at March 31, 2015 and December 31, 2014	0	0
Common stock $0.001 par value - 416,666,667 shares authorized; 210,849,951 and 210,307,502 shares outstanding as of March 31, 2015 and December 31, 2014	211	210
Additional paid-in capital	781,480	778,095
Accumulated deficit	-478,013	-444,954
Total equity - Erin Energy Corporation	303,678	333,351
Non-controlling interests	881	654
Total equity	304,559	334,005
Total liabilities and equity	$689,136	$638,443

UNAUDITED_CONSOLIDATED_BALANCE

UNAUDITED CONSOLIDATED BALANCE SHEETS (Parentheticals) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Preferred stock par value (in Dollars per share)	$0.00	$0.00
Preferred stock, authorized shares	50,000,000	50,000,000
Preferred stock, issued shares	0	0
Preferred stock, outstanding shares	0	0
Common stock, par value (in Dollars per share)	$0.00	$0.00
Common stock, authorized shares	416,666,667	416,666,667
Common stock, outstanding shares	210,849,951	210,307,502

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Revenues:
Crude oil sales, net of royalties	$0	$19,894
Operating costs and expenses:
Production costs	21,328	22,897
Exploratory expenses	6,515	2,276
Depreciation, depletion and amortization	697	4,971
General and administrative expenses	3,491	4,433
Total operating costs and expenses	32,031	34,577
Operating loss	-32,031	-14,683
Other income (expense):
Currency transaction gain (loss)	1,436	0
Interest expense	-2,611	-185
Other, net	0	10
Total other income (expense)	-1,175	-175
Loss before income taxes	-33,206	-14,858
Income tax expense	0	0
Net loss before non-controlling interest	-33,206	-14,858
Net loss attributable to non-controlling interest	147	0
Net loss attributable to Erin Energy Corporation	($33,059)	($14,858)
Net loss per common share:
Basic (dollars per share)	($0.16)	($0.13)
Diluted (dollars per share)	($0.16)	($0.13)
Weighted average common shares outstanding:
Basic (in shares)	210,470	112,821
Diluted (in shares)	210,470	112,821

CONSOLIDATED_STATEMENTS_OF_EQU

CONSOLIDATED STATEMENTS OF EQUITY (Unaudited) (USD $)	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Non-controlling Interest
In Thousands, unless otherwise specified
Balance at December 31, 2014 at Dec. 31, 2014	$334,005	$210	$778,095	($444,954)	$654
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued	134	1	133
Stock based compensation	3,252		3,252
Funding from non-controlling interest	374				374
Net loss	-33,206			-33,059	-147
Balance at March 31, 2015 at Mar. 31, 2015	$304,559	$211	$781,480	($478,013)	$881

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities
Net loss	($33,206)	($14,858)
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation, depletion and amortization	120	4,531
Accretion of asset retirement obligations	577	440
Amortization of debt discount and debt issuance costs	267	0
Foreign currency transaction gain	-1,436	0
Share-based compensation	1,320	507
Payments to settle asset retirement obligations	-6,282	0
Change in operating assets and liabilities:
(Increase) decrease in accounts receivable	894	-3,042
Decrease in inventories	13	7,437
Increase in prepaids and other current assets	-1,012	-6,175
Increase in accounts payable and accrued liabilities	22,157	7,388
Net cash used in operating activities	-16,588	-3,772
Cash flows from investing activities
Capital expenditures	-35,300	-2,050
Allied transaction	0	-85,000
Net cash used in investing activities	-35,300	-87,050
Cash Flows from Financing Activities
Proceeds from the issuance of common stock	0	135,000
Proceeds from exercise of stock options	0	415
Proceeds from notes payable - related party, net	33,815	650
Allied transaction adjustments	0	-9,171
Funding from non-controlling interest	374	0
Net cash provided by financing activities	34,189	126,894
Effect of exchange rate changes on cash and cash equivalents	297	0
Net increase (decrease) in cash and cash equivalents	-17,402	36,072
Cash and cash equivalents at beginning of period	25,143	163
Cash and cash equivalents at end of period	7,741	36,235
Cash paid for:
Interest, net	2,093	8
Supplemental disclosure of non-cash investing and financing activities:
Issuance of common shares for settlement of liabilities	125	0
Discount on notes payable pursuant to issuance of warrants	$2,067	$0

Company_Description

Company Description	3 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Company Description	Company Description
	Erin Energy Corporation (NYSE MKT: ERN; JSE: ERN), formerly CAMAC Energy, Inc., is an independent oil and gas exploration and production company focused on energy resources in Africa. The Company’s asset portfolio consists of nine licenses across four countries covering an area of approximately 43,000 square kilometers (approximately 10 million acres). The Company owns producing properties and conducts exploration activities offshore Nigeria, conducts exploration activities onshore and offshore Kenya, conducts exploration activities offshore The Gambia, and conducts exploration activities offshore Ghana.
	In April 2015, the Company changed its name to Erin Energy Corporation from CAMAC Energy Inc. The Company is headquartered in Houston, Texas and has offices in Lagos, Nigeria, Nairobi, Kenya, Banjul, The Gambia, Accra, Ghana and Johannesburg, South Africa.
	The Company’s operating subsidiaries include CAMAC Petroleum Limited (“CPL”), CAMAC Energy Kenya Limited, CAMAC Energy Gambia Ltd, and CAMAC Energy Ghana Limited. The terms “we,” “us,” “our,” “the Company,” and “our Company” refer to Erin Energy Corporation and its subsidiaries.
	The Company also conducts certain business transactions with its majority shareholder, CAMAC Energy Holdings Limited (“CEHL”), and its affiliates, which include Allied Energy Plc (“Allied”). See Note 8 - Related Party Transactions for further information.
	The Company’s Executive Chairman of the Board of Directors, and Chief Executive Officer, is a director of each of the above listed related parties. He indirectly owns 27.7% of CEHL, which is the majority shareholder of the Company. As a result, he may be deemed to have an indirect material interest in transactions contemplated with any of the above companies and their affiliates.

Basis_of_Presentation_and_Rece

Basis of Presentation and Recently Issued Accounting Standards	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Basis of Presentation and Recently Issued Accounting Standards	Basis of Presentation and Recently Issued Accounting Standards
	The accompanying unaudited consolidated financial statements include the accounts of the Company and its wholly owned and majority-owned direct and indirect subsidiaries and have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). All significant intercompany transactions and balances have been eliminated in consolidation. The unaudited consolidated financial statements reflect all adjustments which are, in the opinion of management, necessary for a fair presentation of the consolidated financial position and results of operations for the indicated periods. All such adjustments are of a normal recurring nature. This Form 10-Q should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2014 filed with the SEC on March 16, 2015.
	Effective April 22, 2015, the Company implemented a reverse stock split, whereby each six shares of outstanding common stock pre-split was converted into one share of common stock post-split (the “reverse stock split”). All share and per share amounts for all periods presented herein have been adjusted to reflect the reverse stock split as if it had occurred at the beginning of the first period presented.
	Capitalized Interest
	The Company capitalizes interest costs for qualifying oil and gas properties. The capitalization period begins when expenditures are incurred on qualified properties, activities begin which are necessary to prepare the property for production, and interest costs have been incurred. The capitalization period continues as long as these events occur. Capitalized interest is added to the cost of the underlying assets and is depleted using the unit-of-production method in the same manner as the underlying assets.
	During the three months ended March 31, 2015, the Company capitalized $1.3 million interest cost as additions to property, plant and equipment related to the Oyo field redevelopment campaign.
	Net Earnings (Loss) Per Common Share
	Basic net earnings or loss per common share is computed by dividing net earnings or loss by the weighted average number of shares of common stock outstanding at the end of the reporting period. Diluted net earnings or loss per share is computed by dividing net earnings or loss by the fully dilutive common stock equivalent, which consists of shares outstanding, augmented by potentially dilutive shares issuable upon the exercise of stock options, unvested restricted stock awards, warrants, and conversion of the Convertible Subordinated Note, calculated using the treasury stock method.
	The table below sets forth the number of shares issuable pursuant to stock options, unvested restricted stock, and shares issuable upon conversion of the Convertible Subordinated Note that were excluded from dilutive shares outstanding during the three months ended March 31, 2015 and 2014, as these securities are anti-dilutive because the Company was in a loss position for each period.
		Three Months Ended March 31,
	(In thousands)	2015	2014
	Stock options	425	1,238
	Non-vested restricted stock awards	1,301	1,250
	Convertible note	11,632	5,041
		13,358	7,529
	Upon the occurrence of certain events, the Company is also contingently liable to make additional payments to Allied, under the Transfer Agreement, up to an additional amount totaling $50.0 million in cash, or the equivalent in shares of the Company’s common stock, at Allied’s option. See Note 9 - Commitments and Contingencies for further information.
	Fair Value of Financial Instruments
	Fair value is the price that would be received to sell an asset or the price paid to transfer a liability in an orderly transaction between willing market participants at the measurement date.
	The carrying amounts of the Company’s financial instruments, which include cash and cash equivalents, restricted cash, accounts receivable, inventory, deposits, accounts payable and accrued liabilities, and debts at floating interest rates, approximate their fair values at March 31, 2015, and December 31, 2014, respectively, principally due to the short-term nature, maturities or nature of interest rates of the above listed items.
	Recently Issued Accounting Standards
	In January 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-01, Income Statement - Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items. ASU No. 2015-01 eliminates from US GAAP the concept of extraordinary items, and is effective for fiscal years beginning after December 15, 2015. The Company will adopt this standards update, as required, beginning with the first quarter of 2016. The adoption of this standards update is not expected to have a material impact on the Company’s consolidated financial statements.
	In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis. ASU 2015-02 affects reporting entities that are required to evaluate whether they should consolidate certain legal entities. ASU No. 2015-02 is effective for interim and annual periods beginning after December 15, 2015, and the Company will adopt this standards update, as required, beginning with the first quarter of 2016. The adoption of this standards update is not expected to have a material impact on the Company’s consolidated financial statements.
	In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs, which is guidance for the reporting of debt issuance costs related to a recognized debt liability on an entity's balance sheet. Under the guidance, an entity must report debt issuance costs as a direct deduction from the carrying amount of that debt liability, consistent with the treatment for debt discounts. ASU No. 2015-03 is effective for interim and annual periods beginning after December 15, 2015; early adoption is permitted for financial statements that have not been previously issued. The Company will adopt this standards update beginning with the first quarter of 2016. The adoption of this standards update is not expected to have a material impact on the Company’s consolidated financial statements.

Liquidity_Matters_Notes

Liquidity Matters (Notes)	3 Months Ended
	Mar. 31, 2015
Liquidity Matters [Abstract]
Liquidity Matters	Liquidity Matters
	The Company’s primary cash requirements are for capital expenditures for the redevelopment of the Oyo field in the OMLs, operating expenditures, exploration activities in its unevaluated leaseholds, working capital needs, and interest and principal payments under current indebtedness. Included in accounts payable and accrued liabilities at March 31, 2015, is approximately $50.0 million of billings from vendors that the Company expects will be reversed upon the conclusion of ongoing negotiations with those vendors.
	The Company commenced production from the Oyo-8 well in early May 2015 and anticipates beginning production from the Oyo-7 well later in May 2015 as well. The combined initial production rate from the two wells is expected to approximate 14,000 barrels of oil per day. If the Company experiences significant delays in bringing the Oyo-7 well onto production, if actual production rates are substantially below anticipated rates, or if oil prices decline significantly from current levels, the Company may need to seek additional sources of capital.
	In February 2015, the Company received a term sheet from a trading company for a commodity-based Full Recourse Prepayment Facility (the “Prepayment Facility”). Based on the current status of negotiations, the Prepayment Facility would allow the Company to borrow an initial sum, up to $50.0 million, towards the Oyo field redevelopment program. Additional funds, up to a total $50.0 million, would be available for borrowings post-production. Negotiations regarding the terms are continuing. The Company expects the Prepayment Facility to be finalized in the second quarter of 2015.
	In March 2015, the Company entered into a borrowing facility with Allied for a Convertible Note (the “2015 Convertible Note”), separate from the existing $25.0 million Promissory Note and the $50.0 million Convertible Subordinated Note, allowing the Company to borrow up to $50.0 million for general corporate purposes. Upon execution of the 2015 Convertible Note, the Company borrowed $20.0 million under the note. Subsequent to March 31, 2015, the Company borrowed an additional $15.0 million under the note. For further information, see Note 7 – Debt.
	The Company’s majority shareholder has formally committed to provide the Company with additional funding, the form of which would be determined at the time of funding, sufficient to maintain the Company’s operations and to allow the Company to meet its current and future obligations as they become due for one year from March 12, 2015, the date of said commitment.

Property_Plant_and_Equipment

Property, Plant and Equipment	3 Months Ended
	Mar. 31, 2015
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment
	Property, plant and equipment were comprised of the following:
	(In thousands)	March 31,			December 31,
		2015			2014
	Wells and production facilities	$	33,690		$	33,690
	Proved properties	386,196			386,196
	Work in progress and other	329,300			261,346
	Oilfield assets	749,186			681,232
	Accumulated depletion	(95,392		)	(95,403		)
	Oilfield assets, net	653,794			585,829
	Unevaluated leaseholds	9,440			9,440
	Oil and gas properties, net	663,234			595,269
	Other property and equipment	2,500			2,324
	Accumulated depreciation	(1,385		)	(1,264		)
	Other property and equipment, net	1,115			1,060
	Total property, plant and equipment, net	$	664,349		$	596,329
	All of the Company’s oilfield assets are located offshore Nigeria in the OMLs. “Work-in-progress and other” includes ongoing drilling costs, suspended exploratory well costs, as well as warehouse inventory items purchased as part of the redevelopment plan of the Oyo field.

Suspended_Exploratory_Well_Cos

Suspended Exploratory Well Costs	3 Months Ended
	Mar. 31, 2015
Extractive Industries [Abstract]
Suspended Exploratory Well Costs	Suspended Exploratory Well Costs
	In November 2013, the Company achieved both its primary and secondary drilling objectives for the Oyo-7 well. The primary drilling objective was to establish production from the existing Pliocene reservoir. The secondary drilling objective was to confirm the presence of hydrocarbons in the deeper Miocene formation. Hydrocarbons were encountered in three intervals totaling approximately 65 feet, as interpreted by logging-while-drilling (“LWD”) data. Management is making plans to further explore the Miocene formation in future wells. Suspended exploratory well costs were $26.5 million at both March 31, 2015, and December 31, 2014, for the costs related to the Miocene exploratory drilling activities.
	In August 2014, the Oyo-8 well was drilled to a total vertical depth of approximately 6,059 feet (approximately 1,847 meters) and successfully encountered four new oil and gas reservoirs in the eastern fault block, with total gross hydrocarbon thickness of 112 feet, based on results from the LWD data, reservoir pressure measurement, and reservoir fluid sampling. Management has commenced a detailed evaluation of the results and plans to further explore the Pliocene formation in the eastern fault block and establish the size of the incremental additions. Suspended exploratory well costs were $6.5 million at both March 31, 2015, and December 31, 2014, for the costs related to the Pliocene exploration drilling activities in the eastern fault block.

Asset_Retirement_Obligations

Asset Retirement Obligations	3 Months Ended
	Mar. 31, 2015
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations	Asset Retirement Obligations
	The Company’s asset retirement obligations primarily represent the estimated fair value of the amounts that will be incurred to plug, abandon and remediate certain oil and gas properties at the end of their productive lives. Significant inputs used in determining such obligations include, but are not limited to, estimates of plugging and abandonment costs, estimated future inflation rates and changes in property lives. The inputs are calculated based on historical data as well as current estimated costs.
	On a quarterly basis, the Company reviews the assumptions used to estimate the expected cash flows required to settle the asset retirement obligations, including changes in estimated probabilities, amounts and timing of the settlement of the asset retirement obligations, as well as changes in the legal obligation for each of its properties. Changes in any one or more of these assumptions may cause revisions in the estimated liabilities for the corresponding assets.
	The following summarizes changes in the Company’s asset retirement obligations during the period:
		Three months ended March 31,
	(In thousands)	2015			2014
	Asset retirement obligations at January 1	$	26,533		$	20,601
	Accretion expense	577			440
	Cost incurred to settle asset retirement obligations	(6,282		)	—
	Asset retirement obligations at March 31	$	20,828		$	21,041
	During the three months ended March 31, 2015, the Company incurred approximately $6.3 million costs towards plug and abandonment activities for well Oyo-6.
	The table below shows the current and long-term portions of the Company's asset retirement obligations as of the end of each period:
	(In thousands)	31-Mar-15			31-Dec-14
	Asset retirement obligations, current portion	6,705			12,703
	Asset retirement obligations, long-term portion	14,123			13,830
		$	20,828		$	26,533
	Accretion expense is recognized as a component of depreciation, depletion and amortization expense in the accompanying consolidated statements of operations.

Debt

Debt	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Debt	Debt
	Promissory Note – Long-Term
	The Company has a $25.0 million borrowing facility under a Promissory Note (the “Promissory Note”) with Allied. Interest accrues on the outstanding principal under the Promissory Note at a rate of the 30-day London Interbank Offered Rate (“LIBOR”) plus 2% per annum, payable quarterly. The obligations under the Promissory Note have been guaranteed by the Company. In March 2015, the Promissory Note was amended to extend the maturity date by one year to July 2016. The entire $25.0 million facility amount can be utilized for general corporate purposes. As of March 31, 2015, the Company owed $25.0 million under the Promissory Note.
	Convertible Subordinated Note – Long-Term
	As partial consideration in connection with the February 2014 closing of the Allied Transaction, the Company issued a $50.0 million Convertible Subordinated Note in favor of Allied (the “Convertible Subordinated Note”). Interest on the Convertible Subordinated Note accrues at a rate per annum of one-month LIBOR plus 5%, payable quarterly in cash until the maturity of the Convertible Subordinated Note five years from the closing of the Allied Transaction.
	At the election of the holder, the Convertible Subordinated Note is convertible into shares of the Company’s common stock at an initial conversion price of $4.2984 per share, subject to anti-dilution adjustments. The Convertible Subordinated Note is subordinated to the Company’s existing and future senior indebtedness and is subject to acceleration upon an Event of Default (as defined in the Convertible Subordinated Note). The Company may, at its option, prepay the Convertible Subordinated Note in whole or in part, at any time, without premium or penalty, and is subject to mandatory prepayment upon (i) the Company’s issuance of capital stock or incurrence of indebtedness, the proceeds of which the Company does not apply to repayment of senior indebtedness or (ii) any capital markets debt issuance to the extent the net proceeds of such issuance exceed $250.0 million. Allied may assign all or any part of its rights and obligations under the Convertible Subordinated Note to any person upon written notice to the Company. As of March 31, 2015, the Company owed $50.0 million under the Convertible Subordinated Note.
	Term Loan Facility
	In September 2014, the Company, through its wholly owned subsidiary CPL, entered into a credit facility with a Nigerian bank for a five-year senior secured term loan providing initial borrowing capacity of up to $100.0 million (the “Term Loan Facility”). U.S. dollar borrowings under the Term Loan Facility bear interest at the rate of LIBOR plus 7.5%, subject to a floor of 9.5%. The obligations under the Term Loan Facility include a legal charge over OMLs 120 and 121 and an assignment of proceeds from oil sales. The obligations of CPL have been guaranteed by the Company and rank in priority with all its other obligations. Proceeds from the Term Loan Facility were used for the further expansion and development of OMLs 120 and 121 offshore Nigeria, including the Oyo field.
	Under the Term Loan Facility, the following events, among others, constitute events of default: CPL failing to pay any amounts due within thirty days of the due date; bankruptcy, insolvency, liquidation or dissolution of CPL; a material breach of the Loan Agreement by CPL that remains unremedied within thirty days of written notice by CPL; or a representation or warranty of CPL proves to have been incorrect or materially inaccurate when made. Upon any event of default, all outstanding principal and interest under any loans will become immediately due and payable.
	The Term Loan Facility contains normal and customary covenants including the delivery of the Company’s annual audited financial information each year, and a provision of priority of interest, in which the Company is to procure that its obligations under the Term Loan Facility do and will rank in priority with all its other current and future unsecured and unsubordinated obligations. The Company is also to provide a production and lifting schedule each month displaying the daily production totals and quantities lifted respectively from OMLs 120 and 121. The Company was in compliance with all loan covenants as of March 31, 2015.
	Upon executing the Term Loan Facility, the Company paid a $2.1 million commitment fee, which was recorded as debt issuance cost and is being amortized over the life of the Term Loan Facility using the effective interest method. As of March 31, 2015, $1.8 million of the debt issuance cost remain unamortized. As of March 31, 2015, the Company recognized an unrealized foreign currency gain of $1.5 million on the Naira portion of the loan, resulting in a net balance of $98.5 million under the Term Loan Facility. Of this amount, $86.2 million was classified as long-term and $12.3 million as short-term.
	2015 Convertible Note
	In March 2015, the Company entered into a new borrowing facility with Allied for a Convertible Note (the “2015 Convertible Note”) allowing the Company to borrow up to $50.0 million for general corporate purposes. The 2015 Convertible Note will mature in December 2016. Interest accrues at the rate of LIBOR plus 5%, and is payable quarterly.
	The 2015 Convertible Note is convertible into shares of the Company’s common stock upon the occurrence and continuation of an event of default, at the sole option of the holder. The number of shares issuable upon conversion is equal to the sum of the principal amount and the accrued and unpaid interest divided by the conversion price, defined as the volume weighted average of the closing sales prices on the NYSE MKT for a share of common stock for the five complete trading days immediately preceding the conversion date.
	Upon execution of the 2015 Convertible Note in March 2015, the Company borrowed $20.0 million under the note and issued to Allied warrants to purchase approximately 1.6 million shares of the Company’s common stock at a price of $2.46 per share.  The fair market value of the warrants was determined using the Black-Scholes option pricing model. The fair value of the warrants was recorded as a discount from the note, and will be amortized using the effective interest method over the life of the note.
	Additional warrants will be issuable in connection with future borrowings, with the per share price for those warrants determined based on the market price of the Company’s common stock at the time of such future borrowings. As of March 31, 2015, the Company owed $18.1 million under the 2015 Convertible Note, net of discount.
	Subsequent to March 31, 2015, the Company borrowed an additional $15.0 million under the note and will issue to Allied warrants to purchase approximately 0.6 million shares of the Company's common stock.

Related_Party_Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions
	Assets and Liabilities
	The Company has transactions in the normal course of business with its shareholders, CEHL and their affiliates. The following table sets forth the related party assets and liabilities as of March 31, 2015 and December 31, 2014:
	(In thousands)	March 31,		December 31,
		2015		2014
	CEHL, accounts receivable	$	624	$	624
	CEHL, accounts payable and accrued expenses	$	15,617	$	9,391
	CEHL, note payables - related party	$	93,050	$	61,185
	As of March 31, 2015 and December 31, 2014, the Company owed $15.6 million and $9.4 million, respectively, to an affiliate primarily for logistical and support services.
	As of March 31, 2015 the Company had a long-term note payable balance of $93.1 million owed to an affiliate, consisting of a $50.0 million Convertible Subordinated Note, $25.0 million in borrowings under the Promissory Note, and $18.1 million in borrowings under the 2015 Convertible Note, net of discount. As of December 31, 2014, the Company had a long-term note payable balance of $61.2 million owed to an affiliate, consisting of a $50.0 million Convertible Subordinated Note and $11.2 million in borrowings under the Promissory Note. See Note 7 – Debt for further information relating to the notes payable transactions.
	Results from Operations
	The table below sets forth a summary of transactions recorded in the Company's result of operations that were incurred with affiliates during the three months ended March 31, 2015 and 2014:
		Three months ended March 31,
	(In thousands)	2015		2014
	CEHL, total operating (income) and expenses	$	1,956	$	743
	CEHL, other expense, net	$	1,032	$	177

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies
	Commitments
	In February 2014, a long-term contract was signed for the floating, production, storage, and offloading vessel (“FPSO”) Armada Perdana, which is the vessel currently connected to the Company’s producing well Oyo-8 in OML 120. The contract provides for an initial term of seven years beginning January 1, 2014, with an automatic extension for an additional term of two years unless terminated by the Company with prior notice. The FPSO can process up to 40,000 barrels of liquid per day, with a storage capacity of approximately one million barrels. The annual minimum commitment per the terms of the agreement is approximately $48.4 million through 2020.
	In December 2014, the Company entered into a short-term drilling contract for the semi-submersible drilling rig Sedco Express to complete the horizontal drilling portion of wells Oyo-7 and Oyo-8. As of March 31, 2015, the remaining contract commitment is for a 50-day period, with a remaining minimum obligation of approximating $15.0 million.
	The Company also has commitments related to four production sharing contracts with the Government of the Republic of Kenya (the “Kenya PSCs”), two Petroleum Exploration, Development & Production Licenses with the Republic of The Gambia (the “Gambia Licenses”), and one Petroleum Agreement with the Republic of Ghana. In all cases, the Company entered into these commitments through a subsidiary. To maintain compliance and ownership, the Company is required to fulfill certain minimum work obligations and to make certain payments as stated in each of the Kenya PSCs, the Gambia Licenses, and the Ghana Petroleum Agreement.
	Contingencies
	Legal Contingencies
	From time to time, the Company may be involved in various legal proceedings and claims in the ordinary course of business. As of March 31, 2015, and through the filing date of this report, the Company does not believe the ultimate resolution of such actions or potential actions of which the Company is currently aware will have a material effect on its consolidated financial position or results of operations.
	In January 2014, an affiliate of CEHL, the Company’s majority shareholder, and Northern Offshore International Drilling Company Ltd. (“Northern”) entered into an International Daywork Drilling Contract pursuant to which Northern agreed to provide the drillship Energy Searcher for the provision of drilling services offshore Nigeria. Pursuant to further contractual arrangements entered into in March 2014, the affiliate provided the drillship to CPL, with CPL assuming payment obligations under the drilling contract and receiving the right to enforce Northern’s obligations under the drilling contract. The Company guaranteed the performance by CPL of its obligations under these contractual arrangements. The Company, CPL and the CEHL affiliate are referred to hereinafter as the “Erin Parties.”
	On January 2, 2015, the Erin Parties received a notice from Northern purporting to terminate the drilling contract for failure to provide the required letter of credit thereunder and stating that the Erin Parties are required to pay Northern all outstanding unpaid invoices, the early termination fee, the demobilization fee and amounts due but not yet invoiced for work performed up to the date of termination. On January 7, 2015, the Erin Parties responded to Northern disputing the validity of the purported Northern termination, which under English law we believe constitutes a renunciation of the drilling contract and wrongful repudiatory breach thereof because of, among other things, the course of conduct by the parties. Specifically, the Erin Parties arranged for, and Northern agreed to and performed work in exchange for, issuing monthly prepayment invoices in lieu of the letter of credit. Because of Northern’s repudiatory breach, the Erin Parties elected to terminate the contract with immediate effect.  In addition, the January 7, 2015 letter set out other grounds for termination and claims against Northern for numerous material breaches of the drilling contract.
	On January 12, 2015, Northern issued a request for arbitration in the London Court of International Arbitration (“LCIA”). The request repeated the claims of Northern relating to the letter of credit as stated in the January 2, 2015 letter and asserted further breaches of contract, including for failure to pay invoices for work allegedly performed. The request seeks payment of outstanding unpaid invoices, the early termination fee and the demobilization fee. On February 10, 2015, the Erin Parties lodged their response to the request and outlined claims against Northern for breaches of the drilling contract for, among other things, wrongful termination of the contract, failure to maintain the well control equipment in good condition (including the blowout preventer), failure to maintain and repair the drilling unit, breach of warranty, failure to provide adequately skilled and competent personnel, failure to perform as a reasonable and prudent operator, and failure to provide the drilling unit ready to commence operations by May 15, 2014. These breaches caused significant damages and loss to the Erin Parties, including wasted marine spread costs in excess of $50 million, the cost of other marine services that were accumulated while the rig incurred downtime, as recognized under English law, and delay damages in excess of $3 million due to delays in the commencement of operations.
	Pursuant to the contract and LCIA rules, a tribunal of three arbitrators, one selected by each of Northern and the Erin Parties and the third appointed by the first two arbitrators, has been empaneled. A mediation took place in Houston, Texas on March 6, 2015, but no settlement was reached. Subsequently, each party has filed its own request for arbitration, superseding the prior request. A procedural hearing has been set for May 13, 2015.
	Contingency under the Allied Transfer Agreement
	As provided for under the Transfer Agreement with Allied, the Company is required to make the following additional payments upon the occurrence of certain future events: (i) $25.0 million cash or the equivalent in shares of the Company’s common stock within fifteen days following the approval of a development plan by the Nigerian Department of Petroleum Resources with respect to a first new discovery of hydrocarbons in a non-Oyo field area; and (ii) $25.0 million cash or the equivalent in shares of the Company’s common stock within fifteen days starting from the commencement of the first hydrocarbon production in commercial quantities in a non-Oyo field area. The number of shares to be issued shall be determined by calculating the average closing price of the Company’s common stock over a period of thirty days, counted back from the first business day immediately prior to the approval of a development plan by the Nigerian Department of Petroleum Resources or the date of the first hydrocarbon production in commercial quantities, where applicable.

StockBased_Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Stock-Based Compensation
	Stock Options
	During the three months ended March 31, 2015, the Company issued 5,000 shares of common stock as a result of the exercise of stock options.
	Stock Warrants
	In March 2015, in connection with the execution of the 2015 Convertible Note, the Company issued to Allied warrants to purchase approximately 1.6 million shares of the Company’s common stock at an exercise price of $2.46 per share. The warrants are exercisable at any time starting from the date of issuance and have a five year term.
	During the three months ended March 31, 2015, 0.2 million previously issued warrants were forfeited.
	Restricted Stock Awards
	During the three months ended March 31, 2015, the Company granted officers, directors, and employees a total of approximately 0.8 million shares of restricted common stock, with vesting periods varying from immediate vesting to 36 months.
	During the three months ended March 31, 2015, the Company granted performance-based restricted stock awards (PBRSA) to certain officers totaling 0.4 million shares. Each grant will vest if the individuals remain employed three years from the date of grant and the Company achieves specific performance objectives at the end of the designated performance period. Up to 50% additional shares may be awarded if performance objectives are exceeded. None of the PBRSAs will vest if certain minimum performance goals are not met. The performance conditions are based on the Company’s total shareholder return over the performance period compared to an industry peer group of companies. Total estimated compensation expense is $0.4 million over three years.

Segment_Information

Segment Information	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Segment Information	Segment Information
	The Company’s current operations are based in Nigeria, Kenya, The Gambia, and Ghana. Management reviews and evaluates the operations of each geographic segment separately. Operations include exploration for and production of hydrocarbons where commercial reserves have been found and developed. Revenues and expenditures are recognized at the relevant geographical location. The Company evaluates each segment based on operating income (loss).
	Segment activity for the three months ended March 31, 2015 and 2014, are as follows:
	(In thousands)	Nigeria			Kenya			The Gambia			Ghana			Corporate and Other			Total
	Three months ended March 31,
	2015
	Revenues	$	—		$	—		$	—		$	—		$	—		$	—
	Operating loss	$	(22,236	)	$	(5,551	)	$	(371	)	$	(294	)	$	(3,579	)	$	(32,031	)
	2014
	Revenues	$	19,894		$	—		$	—		$	—		$	—		$	19,894
	Operating loss	$	(7,906	)	$	(1,992	)	$	(268	)	$	(16	)	$	(4,501	)	$	(14,683	)
	Total assets by segment as of March 31, 2015 and December 31, 2014 are as follows:
	(In thousands)	Nigeria			Kenya			The Gambia			Ghana			Corporate and Other			Total
	Total Assets
	As of March 31, 2015	$	676,471		$	1,474		$	2,084		$	1,905		$	7,202		$	689,136
	As of December 31, 2014	$	609,243		$	8,527		$	2,739		$	1,413		$	16,521		$	638,443

Basis_of_Presentation_and_Rece1

Basis of Presentation and Recently Issued Accounting Standards (Policies)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Interest Capitalization	The Company capitalizes interest costs for qualifying oil and gas properties. The capitalization period begins when expenditures are incurred on qualified properties, activities begin which are necessary to prepare the property for production, and interest costs have been incurred. The capitalization period continues as long as these events occur. Capitalized interest is added to the cost of the underlying assets and is depleted using the unit-of-production method in the same manner as the underlying assets.
Net Earnings (Loss) Per Common Share	Basic net earnings or loss per common share is computed by dividing net earnings or loss by the weighted average number of shares of common stock outstanding at the end of the reporting period. Diluted net earnings or loss per share is computed by dividing net earnings or loss by the fully dilutive common stock equivalent, which consists of shares outstanding, augmented by potentially dilutive shares issuable upon the exercise of stock options, unvested restricted stock awards, warrants, and conversion of the Convertible Subordinated Note, calculated using the treasury stock method.
Basis of Presentation	Basis of Presentation and Recently Issued Accounting Standards
	The accompanying unaudited consolidated financial statements include the accounts of the Company and its wholly owned and majority-owned direct and indirect subsidiaries and have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). All significant intercompany transactions and balances have been eliminated in consolidation. The unaudited consolidated financial statements reflect all adjustments which are, in the opinion of management, necessary for a fair presentation of the consolidated financial position and results of operations for the indicated periods. All such adjustments are of a normal recurring nature. This Form 10-Q should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2014 filed with the SEC on March 16, 2015.
	Effective April 22, 2015, the Company implemented a reverse stock split, whereby each six shares of outstanding common stock pre-split was converted into one share of common stock post-split (the “reverse stock split”). All share and per share amounts for all periods presented herein have been adjusted to reflect the reverse stock split as if it had occurred at the beginning of the first period presented.
	Capitalized Interest
	The Company capitalizes interest costs for qualifying oil and gas properties. The capitalization period begins when expenditures are incurred on qualified properties, activities begin which are necessary to prepare the property for production, and interest costs have been incurred. The capitalization period continues as long as these events occur. Capitalized interest is added to the cost of the underlying assets and is depleted using the unit-of-production method in the same manner as the underlying assets.
	During the three months ended March 31, 2015, the Company capitalized $1.3 million interest cost as additions to property, plant and equipment related to the Oyo field redevelopment campaign.
	Net Earnings (Loss) Per Common Share
	Basic net earnings or loss per common share is computed by dividing net earnings or loss by the weighted average number of shares of common stock outstanding at the end of the reporting period. Diluted net earnings or loss per share is computed by dividing net earnings or loss by the fully dilutive common stock equivalent, which consists of shares outstanding, augmented by potentially dilutive shares issuable upon the exercise of stock options, unvested restricted stock awards, warrants, and conversion of the Convertible Subordinated Note, calculated using the treasury stock method.
	The table below sets forth the number of shares issuable pursuant to stock options, unvested restricted stock, and shares issuable upon conversion of the Convertible Subordinated Note that were excluded from dilutive shares outstanding during the three months ended March 31, 2015 and 2014, as these securities are anti-dilutive because the Company was in a loss position for each period.
		Three Months Ended March 31,
	(In thousands)	2015	2014
	Stock options	425	1,238
	Non-vested restricted stock awards	1,301	1,250
	Convertible note	11,632	5,041
		13,358	7,529
	Upon the occurrence of certain events, the Company is also contingently liable to make additional payments to Allied, under the Transfer Agreement, up to an additional amount totaling $50.0 million in cash, or the equivalent in shares of the Company’s common stock, at Allied’s option. See Note 9 - Commitments and Contingencies for further information.
	Fair Value of Financial Instruments
	Fair value is the price that would be received to sell an asset or the price paid to transfer a liability in an orderly transaction between willing market participants at the measurement date.
	The carrying amounts of the Company’s financial instruments, which include cash and cash equivalents, restricted cash, accounts receivable, inventory, deposits, accounts payable and accrued liabilities, and debts at floating interest rates, approximate their fair values at March 31, 2015, and December 31, 2014, respectively, principally due to the short-term nature, maturities or nature of interest rates of the above listed items.
Recently Issued Accounting Standards	In January 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-01, Income Statement - Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items. ASU No. 2015-01 eliminates from US GAAP the concept of extraordinary items, and is effective for fiscal years beginning after December 15, 2015. The Company will adopt this standards update, as required, beginning with the first quarter of 2016. The adoption of this standards update is not expected to have a material impact on the Company’s consolidated financial statements.
	In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis. ASU 2015-02 affects reporting entities that are required to evaluate whether they should consolidate certain legal entities. ASU No. 2015-02 is effective for interim and annual periods beginning after December 15, 2015, and the Company will adopt this standards update, as required, beginning with the first quarter of 2016. The adoption of this standards update is not expected to have a material impact on the Company’s consolidated financial statements.
	In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs, which is guidance for the reporting of debt issuance costs related to a recognized debt liability on an entity's balance sheet. Under the guidance, an entity must report debt issuance costs as a direct deduction from the carrying amount of that debt liability, consistent with the treatment for debt discounts. ASU No. 2015-03 is effective for interim and annual periods beginning after December 15, 2015; early adoption is permitted for financial statements that have not been previously issued.

Basis_of_Presentation_and_Rece2

Basis of Presentation and Recently Issued Accounting Standards (Tables)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share	The table below sets forth the number of shares issuable pursuant to stock options, unvested restricted stock, and shares issuable upon conversion of the Convertible Subordinated Note that were excluded from dilutive shares outstanding during the three months ended March 31, 2015 and 2014, as these securities are anti-dilutive because the Company was in a loss position for each period.
		Three Months Ended March 31,
	(In thousands)	2015	2014
	Stock options	425	1,238
	Non-vested restricted stock awards	1,301	1,250
	Convertible note	11,632	5,041
		13,358	7,529

Property_Plant_and_Equipment_T

Property, Plant and Equipment (Tables)	3 Months Ended
	Mar. 31, 2015
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment
	(In thousands)	March 31,			December 31,
		2015			2014
	Wells and production facilities	$	33,690		$	33,690
	Proved properties	386,196			386,196
	Work in progress and other	329,300			261,346
	Oilfield assets	749,186			681,232
	Accumulated depletion	(95,392		)	(95,403		)
	Oilfield assets, net	653,794			585,829
	Unevaluated leaseholds	9,440			9,440
	Oil and gas properties, net	663,234			595,269
	Other property and equipment	2,500			2,324
	Accumulated depreciation	(1,385		)	(1,264		)
	Other property and equipment, net	1,115			1,060
	Total property, plant and equipment, net	$	664,349		$	596,329
	All of the Company’s oilfield assets are located offshore Nigeria in the OMLs. “Work-in-progress and other” includes ongoing drilling costs, suspended exploratory well costs, as well as warehouse inventory items purchased as part of the redevelopment plan of the Oyo field.

Asset_Retirement_Obligations_T

Asset Retirement Obligations (Tables)	3 Months Ended
	Mar. 31, 2015
Asset Retirement Obligation Disclosure [Abstract]
Summary of Changes in Asset Retirement Obligations	The following summarizes changes in the Company’s asset retirement obligations during the period:
		Three months ended March 31,
	(In thousands)	2015			2014
	Asset retirement obligations at January 1	$	26,533		$	20,601
	Accretion expense	577			440
	Cost incurred to settle asset retirement obligations	(6,282		)	—
	Asset retirement obligations at March 31	$	20,828		$	21,041
Schedule of Asset Retirement Obligations	The table below shows the current and long-term portions of the Company's asset retirement obligations as of the end of each period:
	(In thousands)	31-Mar-15			31-Dec-14
	Asset retirement obligations, current portion	6,705			12,703
	Asset retirement obligations, long-term portion	14,123			13,830
		$	20,828		$	26,533

Related_Party_Transactions_Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
Summary of Related Party Transactions and Balances	The table below sets forth a summary of transactions recorded in the Company's result of operations that were incurred with affiliates during the three months ended March 31, 2015 and 2014:
		Three months ended March 31,
	(In thousands)	2015		2014
	CEHL, total operating (income) and expenses	$	1,956	$	743
	CEHL, other expense, net	$	1,032	$	177
	The following table sets forth the related party assets and liabilities as of March 31, 2015 and December 31, 2014:
	(In thousands)	March 31,		December 31,
		2015		2014
	CEHL, accounts receivable	$	624	$	624
	CEHL, accounts payable and accrued expenses	$	15,617	$	9,391
	CEHL, note payables - related party	$	93,050	$	61,185

Segment_Information_Tables

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Schedule of Segment Activity	Segment activity for the three months ended March 31, 2015 and 2014, are as follows:
	(In thousands)	Nigeria			Kenya			The Gambia			Ghana			Corporate and Other			Total
	Three months ended March 31,
	2015
	Revenues	$	—		$	—		$	—		$	—		$	—		$	—
	Operating loss	$	(22,236	)	$	(5,551	)	$	(371	)	$	(294	)	$	(3,579	)	$	(32,031	)
	2014
	Revenues	$	19,894		$	—		$	—		$	—		$	—		$	19,894
	Operating loss	$	(7,906	)	$	(1,992	)	$	(268	)	$	(16	)	$	(4,501	)	$	(14,683	)
	Total assets by segment as of March 31, 2015 and December 31, 2014 are as follows:
	(In thousands)	Nigeria			Kenya			The Gambia			Ghana			Corporate and Other			Total
	Total Assets
	As of March 31, 2015	$	676,471		$	1,474		$	2,084		$	1,905		$	7,202		$	689,136
	As of December 31, 2014	$	609,243		$	8,527		$	2,739		$	1,413		$	16,521		$	638,443

Company_Description_Narrative_

Company Description - Narrative (Details)	3 Months Ended
	Mar. 31, 2015
Related Party Transaction [Line Items]
Number of exploration and production licenses	9
Number of countries company operates in Africa	4
Chief Executive Officer
Related Party Transaction [Line Items]
Director ownership interest of majority shareholder of the company	27.70%

Basis_of_Presentation_and_Rece3

Basis of Presentation and Recently Issued Accounting Standards - Narrative (Details) (USD $)	3 Months Ended	0 Months Ended
	Mar. 31, 2015	Apr. 22, 2015	Dec. 31, 2014
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Current liabilities	$191,173,000		$136,341,000
Liabilities	384,577,000		304,438,000
Interest costs capitalized	1,300,000
Allied
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Contingent additional payment under transfer agreement	$50,000,000
Subsequent Event
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stock issued during period, shares, reverse stock split		0.1667

Basis_of_Presentation_and_Rece4

Basis of Presentation and Recently Issued Accounting Standards - Antidilutive Shares (Details)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities	13,358	7,529
Stock options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities	425	1,238
Nonvested restricted stock awards
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities	1,301	1,250
Convertible notes
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities	11,632	5,041

Liquidity_Matters_Details

Liquidity Matters (Details) (USD $)	1 Months Ended	0 Months Ended	1 Months Ended
	Mar. 31, 2015	Mar. 12, 2015	Apr. 30, 2015	Feb. 28, 2015	Dec. 31, 2014	31-May-15
Prepayment Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity				$50,000,000
Additional borrowing capacity, post-production				50,000,000
Promissory Note To Allied
Line of Credit Facility [Line Items]
Maximum borrowing capacity	25,000,000				11,200,000
2015 Convertible Note
Line of Credit Facility [Line Items]
Maximum borrowing capacity	50,000,000
Proceeds from convertible debt	20,000,000
Convertible Subordinated Debt
Line of Credit Facility [Line Items]
Maximum borrowing capacity	50,000,000
Forecast
Line of Credit Facility [Line Items]
Initial barrels of oil per day						14,000
CEHL
Line of Credit Facility [Line Items]
Commitment to additional funding, time period		1 year
Subsequent Event
Line of Credit Facility [Line Items]
Number of oil wells						2
Subsequent Event | 2015 Convertible Note
Line of Credit Facility [Line Items]
Proceeds from convertible debt			15,000,000
Accounts Payable and Accrued Liabilities
Line of Credit Facility [Line Items]
Accrued billing liability, expected reversal	$50,000,000

Property_Plant_and_Equipment_D

Property, Plant and Equipment (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Property, Plant and Equipment [Abstract]
Wells and production facilities	$33,690	$33,690
Proved properties	386,196	386,196
Work in progress and other	329,300	261,346
Oilfield assets	749,186	681,232
Accumulated depletion	-95,392	-95,403
Oilfield assets, net	653,794	585,829
Unevaluated leaseholds	9,440	9,440
Oil and gas properties, net	663,234	595,269
Other property and equipment	2,500	2,324
Accumulated depreciation	-1,385	-1,264
Other property and equipment, net	1,115	1,060
Total property, plant and equipment, net	$664,349	$596,329

Suspended_Exploratory_Well_Cos1

Suspended Exploratory Well Costs - Narrative (Details) (USD $)	1 Months Ended
In Millions, unless otherwise specified	Aug. 31, 2014	Nov. 30, 2013	Mar. 31, 2015	Dec. 31, 2014
	ft	interval
		ft
Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities [Line Items]
Number of hydrocarbons miocene formation intervals		3
Number of feet encountered by hydrocarbons in three intervals, as interpreted by bLWDb data		65
Pliocene formation eastern fault block vertical depth	6,059
Number of pliocene formation eastern fault block new oil and gas reservoirs	4
Hydrocarbons pliocene formation eastern fault block gross thickness	112
Miocene Exploratory Drilling Activities
Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities [Line Items]
Suspended exploratory well cost			$26.50	$26.50
Pliocene Exploratory Drilling Activity
Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities [Line Items]
Suspended exploratory well cost			$6.50	$6.50

Asset_Retirement_Obligations_N

Asset Retirement Obligations - Narrative (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Asset Retirement Obligation Disclosure [Abstract]
Cost incurred to settle asset retirement obligations	$6,282	$0

Asset_Retirement_Obligations_S

Asset Retirement Obligations - Summary of Change in Asset Retirement Obligations (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Asset retirement obligations beginning balance	$26,533	$20,601
Accretion expense	577	440
Cost incurred to settle asset retirement obligations	-6,282	0
Asset retirement obligations ending balance	$20,828	$21,041

Asset_Retirement_Obligations_C

Asset Retirement Obligations - Current and Long-term Balance (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Asset Retirement Obligation Disclosure [Abstract]
Asset retirement obligations, current portion	$6,705	$12,703
Asset retirement obligations, long-term portion	14,123	13,830
Asset retirement obligation	$20,828	$26,533	$21,041	$20,601

Debt_Promissory_Note_Details

Debt - Promissory Note (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Promissory note	$93,100,000	$61,185,000
Promissory Note To Allied
Debt Instrument [Line Items]
Notes payable maximum borrowing capacity during extended period	25,000,000
Promissory note extended maturity period	1 year
Promissory note	$25,000,000
Promissory Note To Allied | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.00%

Debt_Convertible_Subordinated_

Debt - Convertible Subordinated Note (Details) (USD $)	1 Months Ended
	Feb. 28, 2014	Mar. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Convertible subordinate note issued		$50,000,000	$50,000,000
Convertible Subordinated Debt
Debt Instrument [Line Items]
Convertible subordinate note issued	50,000,000	50,000,000
Convertible subordinated note maturity term	5 years
Convertible debt conversion price	$4.30
Minimum proceeds from capital market debt issuance for mandatory prepayment option	$250,000,000
Convertible Subordinated Debt | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	5.00%

Debt_Term_Loan_Facility_Detail

Debt - Term Loan Facility (Details) (USD $)	3 Months Ended		1 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Sep. 30, 2014	Dec. 31, 2014
Line of Credit Facility [Line Items]
Foreign currency transaction gain	$1,436,000	$0
Long-term debt, current	12,307,000			6,200,000
Term Loan Facility
Line of Credit Facility [Line Items]
Convertible subordinated note maturity term			5 years
Maximum borrowing capacity			100,000,000
Line of credit facility, commitment fee amount			2,100,000
Debt issuance, unamortized cost	1,800,000
Foreign currency transaction gain	1,500,000
Long-term debt	98,500,000
Long-term debt, non-current	86,200,000
Long-term debt, current	$12,300,000
London Interbank Offered Rate (LIBOR) | Term Loan Facility
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate			7.50%
Interest Rate Floor | Term Loan Facility
Line of Credit Facility [Line Items]
Debt instrument, interest rate, effective percentage			9.50%

Debt_Convertible_Note_Details

Debt - Convertible Note (Details) (USD $)	1 Months Ended	3 Months Ended	1 Months Ended
Share data in Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2015	Apr. 30, 2015
Line of Credit Facility [Line Items]
Common stock exercised on issuance of warrant	1.6
2015 Convertible Note
Line of Credit Facility [Line Items]
Maximum borrowing capacity	50,000,000	50,000,000
Long-term line of credit	18,100,000	18,100,000
Proceeds from convertible debt	20,000,000
London Interbank Offered Rate (LIBOR) | 2015 Convertible Note
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate		5.00%
Subsequent Event | 2015 Convertible Note
Line of Credit Facility [Line Items]
Proceeds from convertible debt			$15,000,000
Common stock exercised on issuance of warrant			0.6

Related_Party_Transactions_Sum

Related Party Transactions - Summary of Assets and Liabilities (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Related Party Transactions [Abstract]
CEHL, accounts receivable	$624,000	$624,000
CEHL, accounts payable and accrued expenses	15,600,000	9,400,000
CEHL, note payables - related party	$93,100,000	$61,185,000

Related_Party_Transactions_Nar

Related Party Transactions - Narrative (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Accounts payable and accrued expenses	$15,600,000	$9,400,000
Promissory note	93,100,000	61,185,000
Convertible subordinate note issued	50,000,000	50,000,000
Promissory Note To Allied
Related Party Transaction [Line Items]
Promissory note	25,000,000
Maximum borrowing capacity	25,000,000	11,200,000
2015 Convertible Note
Related Party Transaction [Line Items]
Maximum borrowing capacity	50,000,000
Long-term line of credit	$18,100,000

Related_Party_Transactions_Sum1

Related Party Transactions - Summary of Transactions (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Related Party Transactions [Abstract]
CEHL, total operating (income) and expenses	$1,956	$743
CEHL, other expense, net	$1,032	$177

Commitments_and_Contingencies_

Commitments and Contingencies - Narrative (Details) (USD $)	3 Months Ended	1 Months Ended		0 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Feb. 28, 2014	Dec. 31, 2014	Jan. 07, 2015
	contract	bbl
Kenya PSCs
Other Commitments [Line Items]
Production sharing contracts	4
Long-term Floating Production Storage and Offloading System Contract
Other Commitments [Line Items]
Initial contract term		7 years
Additional contract term		2 years
Barrels processing capacity		40,000
Maximum storage capacity for the FPSO		1,000,000
Minimum commitment, due thereafter	48.4
Short-term Drilling Contract
Other Commitments [Line Items]
Remaining contract commitment period			50 days
Contractual obligation due in next 32 days	15
Gambia Licenses
Other Commitments [Line Items]
Development and production licenses	2
CAMAC
Other Commitments [Line Items]
Loss contingency, value of damages sought (more than)				50
Operating costs and expenses				3
Approval by Nigerian Department of Petroleum Resources
Other Commitments [Line Items]
Payment of cash or the equivalent in shares	25
Payment of cash or the equivalent of shares in period	15 days
Number of shares to be issued in period	30 days

StockBased_Compensation_Narrat

Stock-Based Compensation - Narrative (Details) (USD $)	1 Months Ended	3 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares of common stock issued during period		5,000
Common stock exercised on issuance of warrant	1,600,000
Warrant strike price (in dollars per share)	$2.46	$2.46
Weighted-average remaining contractual term		5 years
Warrant
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number forfeited in period		200,000
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of grants in period		800,000
Estimated compensation expense	$0.40	$0.40
Estimated compensation cost not yet recognized, period of recognition		3 years
Restricted Stock | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period		36 months
Senior Officer | Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of grants in period		400,000
Maximum percentage of additional shares awarded		50.00%

Segment_Information_Segment_Ac

Segment Information - Segment Activity (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Segment Reporting Information [Line Items]
Revenues	$0	$19,894
Operating loss	-32,031	-14,683
Corporate and Other
Segment Reporting Information [Line Items]
Operating loss	-3,579	-4,501
NIGERIA
Segment Reporting Information [Line Items]
Revenues	0	19,894
Operating loss	-22,236	-7,906
KENYA
Segment Reporting Information [Line Items]
Operating loss	-5,551	-1,992
Gambia Licenses
Segment Reporting Information [Line Items]
Operating loss	-371	-268
GHANA
Segment Reporting Information [Line Items]
Operating loss	($294)	($16)

Segment_Information_Segment_As

Segment Information - Segment Assets (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Segment Reporting Information [Line Items]
Assets	$689,136	$638,443
Corporate and Other
Segment Reporting Information [Line Items]
Assets	7,202	16,521
NIGERIA
Segment Reporting Information [Line Items]
Assets	676,471	609,243
KENYA
Segment Reporting Information [Line Items]
Assets	1,474	8,527
Gambia Licenses
Segment Reporting Information [Line Items]
Assets	2,084	2,739
GHANA
Segment Reporting Information [Line Items]
Assets	$1,905	$1,413

Uncategorized_Items

Uncategorized Items	3/31/15	3/31/15
[us-gaap_GasAndOilAreaUndevelopedNet]	10,000,000	43,000