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Segment Information (Tables)
9 Months Ended
Sep. 30, 2017
Segment Reporting [Abstract]  
Selected financial information for segments
The following tables present selected financial information for the periods presented regarding the Company’s business segments on a stand-alone basis, corporate expenses that are not allocated to a segment and the consolidation and elimination entries necessary to arrive at the financial information for the Company on a consolidated basis (in thousands). On a consolidated basis, midstream services revenues consist primarily of those revenues from midstream operations related to third parties, including working interest owners in the Company’s operated wells. All midstream services revenues associated with Company-owned production are eliminated in consolidation. In evaluating the operating results of the exploration and production and midstream segments, the Company does not allocate certain expenses to the individual segments, including general and administrative expenses. Such expenses are reflected in the column labeled “Corporate.”
 
Exploration and Production
 
 
 
 
 
Consolidations and Eliminations
 
Consolidated Company
 
 
Midstream
 
Corporate
 
 
Three Months Ended September 30, 2017
 
 
 
 
 
 
 
 
 
Oil and natural gas revenues
$
134,488

 
$
460

 
$

 
$

 
$
134,948

Midstream services revenues

 
11,261

 

 
(8,043
)
 
3,218

Realized gain on derivatives
485

 

 

 

 
485

Unrealized loss on derivatives
(12,372
)
 

 

 

 
(12,372
)
Expenses(1)
86,728

 
5,598

 
15,447

 
(8,043
)
 
99,730

Operating income (loss)(2)
$
35,873

 
$
6,123

 
$
(15,447
)
 
$

 
$
26,549

Total assets
$
1,590,677

 
$
222,274

 
$
35,586

 
$

 
$
1,848,537

Capital expenditures(3)
$
180,686

 
$
35,008

 
$
1,494

 
$

 
$
217,188

_____________________
(1)
Includes depletion, depreciation and amortization expenses of $46.1 million and $1.3 million for the exploration and production and midstream segments, respectively. Also includes corporate depletion, depreciation and amortization expenses of $0.4 million.
(2)
Includes $2.9 million in net income attributable to non-controlling interest in subsidiaries related to the midstream segment.
(3)
Includes $17.2 million in capital expenditures attributable to non-controlling interest in subsidiaries related to the midstream segment.
 
Exploration and Production
 
 
 
 
 
Consolidations and Eliminations
 
Consolidated Company
 
 
Midstream
 
Corporate
 
 
Three Months Ended September 30, 2016
 
 
 
 
 
 
 
 
 
Oil and natural gas revenues
$
82,794

 
$
285

 
$

 
$

 
$
83,079

Midstream services revenues

 
5,609

 

 
(4,043
)
 
1,566

Realized gain on derivatives
885

 

 

 

 
885

Unrealized gain on derivatives
3,203

 

 

 

 
3,203

Expenses(1)
60,222

 
2,277

 
13,423

 
(4,043
)
 
71,879

Operating income (loss)(2)
$
26,660

 
$
3,617

 
$
(13,423
)
 
$

 
$
16,854

Total assets
$
1,020,648

 
$
124,153

 
$
32,892

 
$

 
$
1,177,693

Capital expenditures
$
116,279

 
$
17,370

 
$
1,903

 
$

 
$
135,552

_____________________
(1)
Includes depletion, depreciation and amortization expenses of $28.9 million and $0.8 million for the exploration and production and midstream segments, respectively. Also includes corporate depletion, depreciation and amortization expenses of $0.3 million.
(2)
Includes $116,000 in net income attributable to non-controlling interest in subsidiaries related to the midstream segment.
 
Exploration and Production
 
 
 
 
 
Consolidations and Eliminations
 
Consolidated Company
 
 
Midstream
 
Corporate
 
 
Nine Months Ended September 30, 2017
 
 
 
 
 
 
 
 
 
Oil and natural gas revenues
$
362,040

 
$
1,519

 
$

 
$

 
$
363,559

Midstream services revenues

 
32,244

 

 
(25,373
)
 
6,871

Realized loss on derivatives
(1,176
)
 

 

 

 
(1,176
)
Unrealized gain on derivatives
21,449

 

 

 

 
21,449

Expenses(1)
233,145

 
16,060

 
47,055

 
(25,373
)
 
270,887

Operating income (loss)(2)
$
149,168

 
$
17,703

 
$
(47,055
)
 
$

 
$
119,816

Total assets
$
1,590,677

 
$
222,274

 
$
35,586

 
$

 
$
1,848,537

Capital expenditures(3)
$
554,642

 
$
75,235

 
$
4,710

 
$

 
$
634,587

_____________________
(1)
Includes depletion, depreciation and amortization expenses of $118.2 million and $3.8 million for the exploration and production and midstream segments, respectively. Also includes corporate depletion, depreciation and amortization expenses of $1.1 million.
(2)
Includes $8.0 million in net income attributable to non-controlling interest in subsidiaries related to the midstream segment.
(3)
Includes $35.8 million in capital expenditures attributable to non-controlling interest in subsidiaries related to the midstream segment.
 
Exploration and Production
 
 
 
 
 
Consolidations and Eliminations
 
Consolidated Company
 
 
Midstream
 
Corporate
 
 
Nine Months Ended September 30, 2016
 
 
 
 
 
 
 
 
 
Oil and natural gas revenues
$
195,467

 
$
874

 
$

 
$

 
$
196,341

Midstream services revenues

 
11,168

 

 
(8,212
)
 
2,956

Realized gain on derivatives
10,413

 

 

 

 
10,413

Unrealized loss on derivatives
(30,261
)
 

 

 

 
(30,261
)
Expenses(1)
327,585

 
5,373

 
40,089

 
(8,212
)
 
364,835

Operating (loss) income(2)
$
(151,966
)
 
$
6,669

 
$
(40,089
)
 
$

 
$
(185,386
)
Total assets
$
1,020,648

 
$
124,153

 
$
32,892

 
$

 
$
1,177,693

Capital expenditures
$
278,396

 
$
49,620

 
$
5,485

 
$

 
$
333,501

_____________________
(1)
Includes depletion, depreciation and amortization expenses of $87.9 million and $1.7 million for the exploration and production and midstream segments, respectively, and full-cost ceiling impairment expenses of $158.6 million for the exploration and production segment. Also includes corporate depletion, depreciation and amortization expenses of $0.6 million.
(2)
Includes $209,000 in net income attributable to non-controlling interest in subsidiaries related to the midstream segment.