Segment Information (Tables)

6 Months Ended

Jun. 30, 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
					Midstream			Corporate
Three Months Ended June 30, 2020
Oil and natural gas revenues	$	118,258	$	509		$	—		$	—	$	118,767
Midstream services revenues	—		36,234			—			(21,566)		14,668
Sales of purchased natural gas	8,327		5,654			—			—		13,981
Lease bonus - mineral acreage	4,062		—			—			—		4,062
Realized gain on derivatives	44,110		—			—			—		44,110
Unrealized loss on derivatives	(132,668)		—			—			—		(132,668)
Expenses⁽¹⁾	483,812		23,575			12,409			(21,566)		498,230
Operating (loss) income⁽²⁾	$	(441,723)	$	18,822		$	(12,409)		$	—	$	(435,310)






Total assets	$	3,159,528	$	765,034		$	76,571		$	—	$	4,001,133
Capital expenditures⁽³⁾	$	130,709	$	64,656		$	594		$	—	$	195,959

_____________________

(1) Includes depletion, depreciation and amortization expenses of $87.8 million and $5.0 million for the exploration and production and midstream segments, respectively. Includes full-cost ceiling impairment of $324.0 million for the exploration and production segment. Also includes corporate depletion, depreciation and amortization expenses of $0.7 million.

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

(3) Includes $9.6 million attributable to land and seismic acquisition expenditures related to the exploration and production segment and $31.9 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 June 30, 2019
Oil and natural gas revenues	$	209,563	$	1,497		$	—		$	—	$	211,060
Midstream services revenues	—		32,166			—			(17,807)		14,359
Sales of purchased natural gas	—		8,963			—			—		8,963
Realized gain on derivatives	1,165		—			—			—		1,165
Unrealized gain on derivatives	6,157		—			—			—		6,157
Expenses⁽¹⁾	141,514		23,425			17,783			(17,807)		164,915
Operating income (loss)⁽²⁾	$	75,371	$	19,201		$	(17,783)		$	—	$	76,789






Total assets	$	3,155,577	$	508,074		$	87,800		$	—	$	3,751,451
Capital expenditures⁽³⁾	$	166,532	$	41,707		$	1,400		$	—	$	209,639

_____________________

(1) Includes depletion, depreciation and amortization expenses of $75.7 million and $3.8 million for the exploration and production and midstream segments, respectively. Also includes corporate depletion, depreciation and amortization expenses of $0.6 million.

(2) Includes $8.3 million in net income attributable to non-controlling interest in subsidiaries related to the midstream segment.

(3) Includes $8.2 million attributable to land and seismic acquisition expenditures related to the exploration and production segment and $24.2 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
Six Months Ended June 30, 2020
Oil and natural gas revenues	$	315,053	$	1,628		$	—		$	—	$	316,681
Midstream services revenues	—		73,983			—			(43,485)		30,498
Sales of purchased natural gas	11,922		12,603			—			—		24,525
Lease bonus - mineral acreage	4,062		—			—			—		4,062
Realized gain on derivatives	54,977		—			—			—		54,977
Unrealized gain on derivatives	3,762		—			—			—		3,762
Expenses⁽¹⁾	645,137		47,905			26,726			(43,485)		676,283
Operating income (loss)⁽²⁾	$	(255,361)	$	40,309		$	(26,726)		$	—	$	(241,778)






Total assets	$	3,159,528	$	765,034		$	76,571		$	—	$	4,001,133
Capital expenditures⁽³⁾	$	340,444	$	132,729		$	1,381		$	—	$	474,554

_____________________

(1) Includes depletion, depreciation and amortization expenses of $172.9 million and $9.8 million for the exploration and production and midstream segments, respectively. Includes full-cost ceiling impairment of $324.0 million for the exploration and production segment. Also includes corporate depletion, depreciation and amortization expenses of $1.4 million.

(2) Includes $16.8 million in net income attributable to non-controlling interest in subsidiaries related to the midstream segment.

(3) Includes $49.3 million attributable to land and seismic acquisition expenditures related to the exploration and production segment and $79.4 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
Six Months Ended June 30, 2019
Oil and natural gas revenues	$	401,226	$	3,103		$	—		$	—	$	404,329
Midstream services revenues	—		62,420			—			(36,223)		26,197
Sales of purchased natural gas	—		20,194			—			—		20,194
Realized gain on derivatives	4,435		—			—			—		4,435
Unrealized loss on derivatives	(39,562)		—			—			—		(39,562)
Expenses⁽¹⁾	283,493		49,260			34,734			(36,223)		331,264
Operating income (loss)⁽²⁾	$	82,606	$	36,457		$	(34,734)		$	—	$	84,329






Total assets	$	3,155,577	$	508,074		$	87,800		$	—	$	3,751,451
Capital expenditures⁽³⁾	$	364,143	$	71,139		$	2,206		$	—	$	437,488

_____________________

(1) Includes depletion, depreciation and amortization expenses of $148.3 million and $7.5 million for the exploration and production and midstream segments, respectively. Also includes corporate depletion, depreciation and amortization expenses of $1.2 million.

(2) Includes $15.8 million in net income attributable to non-controlling interest in subsidiaries related to the midstream segment.

(3) Includes $31.3 million attributable to land and seismic acquisition expenditures related to the exploration and production segment and $37.9 million in capital expenditures attributable to non-controlling interest in subsidiaries related to the midstream segment.