Segment Information (Tables)

3 Months Ended

Mar. 31, 2020

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
	Exploration and Production		Midstream		Corporate			Consolidations and Eliminations			Consolidated Company
Three Months Ended March 31, 2020
Oil and natural gas revenues	$	196,795	$	1,119	$	—		$	—		$	197,914
Midstream services revenues	—		37,749		—			(21,919		)	15,830
Sales of purchased natural gas	3,595		6,949		—			—			10,544
Realized gain on derivatives	10,867		—		—			—			10,867
Unrealized gain on derivatives	136,430		—		—			—			136,430
Expenses⁽¹⁾	161,325		24,330		14,317			(21,919		)	178,053
Operating income (loss)⁽²⁾	$	186,362	$	21,487	$	(14,317	)	$	—		$	193,532
Total assets	$	3,571,257	$	715,413	$	47,001		$	—		$	4,333,671
Capital expenditures⁽³⁾	$	209,735	$	68,073	$	787		$	—		$	278,595

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(1)	Includes depletion, depreciation and amortization expenses of $85.2 million and $4.8 million for the exploration and production and midstream segments, respectively. Also includes corporate depletion, depreciation and amortization expenses of $0.7 million.


(2)	Includes $9.4 million in net income attributable to non-controlling interest in subsidiaries related to the midstream segment.


(3)	Includes $39.7 million attributable to land and seismic acquisition expenditures related to the exploration and production segment and $47.6 million in capital expenditures attributable to non-controlling interest in subsidiaries related to the midstream segment.



	Exploration and Production								Consolidations and Eliminations			Consolidated Company
	Exploration and Production			Midstream		Corporate			Consolidations and Eliminations			Consolidated Company
Three Months Ended March 31, 2019
Oil and natural gas revenues	$	191,663		$	1,606	$	—		$	—		$	193,269
Midstream services revenues	—			30,254		—			(18,416		)	11,838
Sales of purchased natural gas	—			11,231		—			—			11,231
Realized gain on derivatives	3,270			—		—			—			3,270
Unrealized loss on derivatives	(45,719		)	—		—			—			(45,719		)
Expenses⁽¹⁾	141,980			25,834		16,950			(18,416		)	166,348
Operating income (loss)⁽²⁾	$	7,234		$	17,257	$	(16,950	)	$	—		$	7,541
Total assets	$	3,043,375		$	477,836	$	62,087		$	—		$	3,583,298
Capital expenditures⁽³⁾	$	197,611		$	29,432	$	807		$	—		$	227,850

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(1)	Includes depletion, depreciation and amortization expenses of $72.6 million and $3.7 million for the exploration and production and midstream segments, respectively. Also includes corporate depletion, depreciation and amortization expenses of $0.6 million.


(2)	Includes $7.5 million in net income attributable to non-controlling interest in subsidiaries related to the midstream segment.

(3)

Includes $23.1 million attributable to land and seismic acquisition expenditures related to the exploration and production segment and $13.7 million in capital expenditures attributable to non-controlling interest in subsidiaries related to the midstream segment.