Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Segment Reporting Information, by Segment

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
Year Ended December 31, 2023
Oil and natural gas revenues	$	2,538,813	$	6,786	$	—	$	—	$	2,545,599
Midstream services revenues	—		346,933		—		(224,780)		122,153
Sales of purchased natural gas	23,521		126,348		—		—		149,869

Realized loss on derivatives	(9,575)		—		—		—		(9,575)
Unrealized loss on derivatives	(1,261)		—		—		—		(1,261)
Expenses(1)	1,417,957		304,924		99,362		(224,780)		1,597,463
Operating income(2)	$	1,133,541	$	175,143	$	(99,362)	$	—	$	1,209,322






Total assets(3)	$	6,385,762	$	1,257,988	$	83,246	$	—	$	7,726,996
Capital expenditures(4)	$	2,970,230	$	254,393	$	3,636	$	—	$	3,228,259

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(1)Includes depletion, depreciation and amortization expenses of $675.0 million and $40.4 million for the exploration and production and midstream segments, respectively. Also includes corporate depletion, depreciation and amortization expenses of $1.3 million.

(2)Includes $64.3 million in net income attributable to non-controlling interest in subsidiaries related to the midstream segment.

(3)Excludes intercompany receivables and investments in subsidiaries.

(4)Includes $1.81 billion attributable to land and seismic acquisition expenditures related to the exploration and production segment, $63.6 million in midstream acquisition expenditures and $42.2 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
Year Ended December 31, 2022
Oil and natural gas revenues	$	2,897,336	$	8,402	$	—	$	—	$	2,905,738
Midstream services revenues	—		298,184		—		(207,578)		90,606
Sales of purchased natural gas	116,772		83,583		—		—		200,355

Realized loss on derivatives	(157,483)		—		—		—		(157,483)
Unrealized gain on derivatives	18,809		—		—		—		18,809
Expenses(1)	1,177,104		227,556		101,673		(207,578)		1,298,755
Operating income(2)	$	1,698,330	$	162,613	$	(101,673)	$	—	$	1,759,270






Total assets(3)	$	4,022,609	$	1,016,580	$	515,316	$	—	$	5,554,505
Capital expenditures(4)	$	903,518	$	158,544	$	1,213	$	—	$	1,063,275

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(1)Includes depletion, depreciation and amortization expenses of $429.7 million and $34.7 million for the exploration and production and midstream segments, respectively. Also includes corporate depletion, depreciation and amortization expenses of $2.0 million.

(2)Includes $72.1 million in net income attributable to non-controlling interest in subsidiaries related to the midstream segment.

(3)Excludes intercompany receivables and investments in subsidiaries.

(4)Includes $131.0 million attributable to land and seismic acquisition expenditures related to the exploration and production segment, $75.8 million in midstream acquisition expenditures and $39.6 million in capital expenditures attributable to non-controlling interest in subsidiaries related to the midstream segment.


	Exploration and Production						Consolidations and Eliminations		Consolidated Company
			Midstream		Corporate
Year Ended December 31, 2021
Oil and natural gas revenues	$	1,695,032	$	5,510	$	—	$	—	$	1,700,542
Midstream services revenues	—		228,817		—		(153,318)		75,499
Sales of purchased natural gas	47,398		38,636		—		—		86,034

Realized loss on derivatives	(220,105)		—		—		—		(220,105)
Unrealized gain on derivatives	21,011		—		—		—		21,011
Expenses(1)	794,880		142,444		85,899		(153,318)		869,905
Operating income(2)	$	748,456	$	130,519	$	(85,899)	$	—	$	793,076






Total assets(3)	$	3,324,681	$	879,672	$	57,800	$	—	$	4,262,153
Capital expenditures(4)	$	778,191	$	59,361	$	376	$	—	$	837,928

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(1)Includes depletion, depreciation and amortization expenses of $310.9 million and $31.5 million for the exploration and production and midstream segments, respectively. Also includes corporate depletion, depreciation and amortization expenses of $2.6 million.

(2)Includes $55.7 million in net income attributable to non-controlling interest in subsidiaries related to the midstream segment.

(3)Excludes intercompany receivables and investments in subsidiaries.

(4)Includes $263.5 million attributable to land and seismic acquisition expenditures related to the exploration and production segment and $28.5 million in capital expenditures attributable to non-controlling interest in subsidiaries related to the midstream segment.