SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2022

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 March 31, 2022
Oil and natural gas revenues	$	624,793	$	1,722	$	—	$	—	$	626,515
Midstream services revenues	—		67,391		—		(50,085)		17,306
Sales of purchased natural gas	7,122		12,217		—		—		19,339

Realized loss on derivatives	(22,439)		—		—		—		(22,439)
Unrealized loss on derivatives	(75,029)		—		—		—		(75,029)
Expenses(1)	237,457		42,771		26,242		(50,085)		256,385
Operating income(2)	$	296,990	$	38,559	$	(26,242)	$	—	$	309,307






Total assets	$	3,596,773	$	894,560	$	75,995	$	—	$	4,567,328
Capital expenditures(3)	$	239,848	$	19,081	$	225	$	—	$	259,154

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(1)Includes depletion, depreciation and amortization expenses of $87.3 million and $8.0 million for the exploration and production and midstream segments, respectively. Also includes corporate depletion, depreciation and amortization expenses of $0.6 million.

(2)Includes $17.1 million in net income attributable to non-controlling interest in subsidiaries related to the midstream segment.

(3)Includes $41.1 million attributable to land and seismic acquisition expenditures related to the exploration and production segment and $9.3 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 March 31, 2021
Oil and natural gas revenues	$	314,646	$	1,587	$	—	$	—	$	316,233
Midstream services revenues	—		43,909		—		(28,471)		15,438
Sales of purchased natural gas	2,462		2,048		—		—		4,510

Realized loss on derivatives	(25,913)		—		—		—		(25,913)
Unrealized loss on derivatives	(43,423)		—		—		—		(43,423)
Expenses(1)	156,444		26,247		19,962		(28,471)		174,182
Operating income(2)	$	91,328	$	21,297	$	(19,962)	$	—	$	92,663






Total assets	$	2,881,242	$	831,239	$	26,400	$	—	$	3,738,881
Capital expenditures(3)	$	134,865	$	9,773	$	133	$	—	$	144,771

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(1)Includes depletion, depreciation and amortization expenses of $66.4 million and $7.8 million for the exploration and production and midstream segments, respectively. Also includes corporate depletion, depreciation and amortization expenses of $0.7 million.

(2)Includes $8.9 million in net income attributable to non-controlling interest in subsidiaries related to the midstream segment.

(3)Includes $8.7 million attributable to land and seismic acquisition expenditures related to the exploration and production segment and $4.4 million in capital expenditures attributable to non-controlling interest in subsidiaries related to the midstream segment.