Discontinued Operations

6 Months Ended

Jun. 30, 2023

Discontinued Operations and Disposal Groups [Abstract]

The OMP Merger qualified for reporting as a discontinued operation in accordance with ASC 205-20. There were no discontinued operations for the three and six months ended June 30, 2023 and the three months ended June 30, 2022.

Condensed Consolidated Statement of Operations

The results of operations reported as discontinued operations in connection with the OMP Merger were as follows for the period presented:


		Six Months Ended June 30, 2022

	(In thousands)
Revenues

Purchased oil and gas sales(1)			$	(13,364)
Midstream revenues			23,271
Total revenues			9,907
Operating expenses
Lease operating expenses(1)			(4,535)
Midstream expenses			13,224
Gathering, processing and transportation expenses(1)			(3,555)
Purchased oil and gas expenses(1)			(12,506)


General and administrative expenses(1)			3,314
Total operating expenses			(4,058)
Gain on sale of assets			518,900
Operating income			532,865
Other expense
Interest expense, net of capitalized interest			(3,685)

Other expense			(93)
Total other expense			(3,778)
Income from discontinued operations before income taxes			529,087
Income tax expense			(41,222)
Income from discontinued operations, net of income tax			487,865
Net income attributable to non-controlling interests			2,311
Income from discontinued operations attributable to Chord, net of income tax			$	485,554

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(1)Includes discontinued intercompany eliminations.

Condensed Consolidated Statement of Cash Flows

Depreciation, depletion and amortization (“DD&A”) attributable to discontinued operations in “Cash flows from operating activities” was immaterial for the six months ended June 30, 2022. Capital expenditures attributable to discontinued operations included in “Cash flows used in investing activities” was $6.1 million for the six months ended June 30, 2022. There were no significant non-cash activities from discontinued operations for the six months ended June 30, 2022.