SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2024

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, 2024
Oil and natural gas revenues	$	701,425	$	2,694	$	—	$	(579)	$	703,540
Midstream services revenues	—		99,846		—		(67,489)		32,357
Sales of purchased natural gas	5,078		44,368		—		—		49,446

Realized gain on derivatives	275		—		—		—		275
Unrealized gain on derivatives	2,075		—		—		—		2,075
Expenses(1)	416,498		94,138		26,172		(68,068)		468,740
Operating income(2)	$	292,355	$	52,770	$	(26,172)	$	—	$	318,953






Total assets	$	6,836,353	$	1,333,992	$	56,984	$	—	$	8,227,329
Capital expenditures(3)	$	551,920	$	86,412	$	226	$	—	$	638,558

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(1)Includes depletion, depreciation and amortization expenses of $201.2 million and $10.8 million for the exploration and production and midstream segments, respectively. Also includes corporate depletion, depreciation and amortization expenses of $0.3 million.

(2)Includes $19.5 million in net income attributable to non-controlling interest in subsidiaries related to the midstream segment.

(3)Includes $201.3 million attributable to land and seismic acquisition expenditures related to the exploration and production segment and $7.1 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, 2023
Oil and natural gas revenues	$	501,348	$	1,561	$	—	$	—	$	502,909
Midstream services revenues	—		75,251		—		(48,740)		26,511
Sales of purchased natural gas	5,830		28,424		—		—		34,254

Realized gain on derivatives	3,669		—		—		—		3,669
Unrealized loss on derivatives	(7,067)		—		—		—		(7,067)
Expenses(1)	267,580		69,849		20,154		(48,740)		308,843
Operating income(2)	$	236,200	$	35,387	$	(20,154)	$	—	$	251,433






Total assets	$	4,266,414	$	1,039,845	$	475,846	$	—	$	5,782,105
Capital expenditures(3)	$	318,505	$	13,280	$	1,769	$	—	$	333,554

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(1)Includes depletion, depreciation and amortization expenses of $116.6 million and $9.4 million for the exploration and production and midstream segments, respectively. Also includes corporate depletion, depreciation and amortization expenses of $0.3 million.

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

(3)Includes $23.7 million attributable to land and seismic acquisition expenditures related to the exploration and production segment and $4.6 million in capital expenditures attributable to non-controlling interest in subsidiaries related to the midstream segment.