XML 59 R41.htm IDEA: XBRL DOCUMENT v3.8.0.1
Industry Segment Information (Tables)
12 Months Ended
Dec. 31, 2017
Segment Reporting [Abstract]  
Revenue From Different Segments [Table Text Block]

The following table provides certain information about the operations of each of our segments:

 
 
Year Ended December 31, 2017
 
 
Oil and Natural Gas
 
Contract Drilling
 
Mid-stream
 
Other
 
Eliminations
 
Total Consolidated
 
 
(In thousands)
Revenues:
 
 
 
 
 
 
 
 
 
 
 
 
Oil and natural gas
 
$
357,744

 
$

 
$

 
$

 
$

 
$
357,744

Contract drilling
 

 
188,172

 

 

 
(13,452
)
 
174,720

Gas gathering and processing
 

 

 
277,049

 

 
(69,873
)
 
207,176

Total revenues
 
357,744

 
188,172

 
277,049

 

 
(83,325
)
 
739,640

Expenses:
 
 
 
 
 
 
 
 
 
 
 
 
Operating costs:
 
 
 
 
 
 
 
 
 
 
 
 
Oil and natural gas
 
135,532

 

 

 

 
(4,743
)
 
130,789

Contract drilling
 

 
134,432

 

 

 
(11,832
)
 
122,600

Gas gathering and processing
 

 

 
220,613

 

 
(65,130
)
 
155,483

Total operating costs
 
135,532

 
134,432

 
220,613

 

 
(81,705
)
 
408,872

Depreciation, depletion, and amortization
 
101,911

 
56,370

 
43,499

 
7,477

 

 
209,257

Total expenses
 
237,443

 
190,802

 
264,112

 
7,477

 
(81,705
)
 
618,129

Total operating income (loss) (1)
 
120,301

 
(2,630
)
 
12,937

 
(7,477
)
 
(1,620
)
 
 
General and administrative expense
 

 

 

 
(38,087
)
 

 
(38,087
)
Gain (loss) on disposition of assets
 
228

 
(776
)
 
25

 
850

 

 
327

Gain on derivatives
 

 

 

 
14,732

 

 
14,732

Interest expense, net
 

 

 

 
(38,334
)
 

 
(38,334
)
Other
 

 

 

 
21

 

 
21

Income (loss) before income taxes
 
$
120,529

 
$
(3,406
)
 
$
12,962

 
$
(68,295
)
 
$
(1,620
)
 
$
60,170

 
 
 
 
 
 
 
 
 
 
 
 
 
Identifiable assets:
 
 
 
 
 
 
 
 
 
 
 
 
Oil and natural gas (2)
 
$
1,127,900

 
$

 
$

 
$

 
$

 
$
1,127,900

Contract drilling
 

 
933,063

 

 

 

 
933,063

Gas gathering and processing
 

 

 
438,571

 

 

 
438,571

Total identifiable assets (3)
 
1,127,900

 
933,063

 
438,571

 

 

 
2,499,534

Corporate land and building
 

 

 

 
56,854

 

 
56,854

Other corporate assets (4)
 

 

 

 
25,064

 

 
25,064

Total assets
 
$
1,127,900

 
$
933,063

 
$
438,571

 
$
81,918

 
$

 
$
2,581,452

 
 
 
 
 
 
 
 
 
 
 
 
 
Capital expenditures:
 
$
270,443

 
$
36,148

 
$
22,168

 
$
3,521

 
$

 
$
332,280

_______________________ 
(1)
Operating income (loss) is total operating revenues less operating expenses, depreciation, depletion, and amortization and does not include general corporate expenses, gain (loss) on disposition of assets, gain on derivatives, interest expense, other income, or income taxes.
(2)
Oil and natural gas assets include oil and natural gas properties, saltwater disposal systems, and other non-full cost pool assets.
(3)
Identifiable assets are those used in Unit’s operations in each industry segment.
(4)
Corporate assets are principally cash and cash equivalents, short-term investments, transportation equipment, furniture, and equipment.


 
 
Year Ended December 31, 2016
 
 
Oil and Natural Gas
 
Contract Drilling
 
Mid-stream
 
Other
 
Eliminations
 
Total Consolidated
 
 
(In thousands)
Revenues:
 
 
 
 
 
 
 
 
 
 
 
 
Oil and natural gas
 
$
294,221

 
$

 
$

 
$

 
$

 
$
294,221

Contract drilling
 

 
122,086

 

 

 

 
122,086

Gas gathering and processing
 

 

 
237,785

 

 
(51,915
)
 
185,870

Total revenues
 
294,221

 
122,086

 
237,785

 

 
(51,915
)
 
602,177

Expenses:
 
 
 
 
 
 
 
 
 
 
 
 
Operating costs:
 
 
 
 
 
 
 
 
 
 
 
 
Oil and natural gas
 
126,739

 

 

 

 
(6,555
)
 
120,184

Contract drilling
 

 
88,154

 

 

 

 
88,154

Gas gathering and processing
 

 

 
182,969

 

 
(45,360
)
 
137,609

Total operating costs
 
126,739

 
88,154

 
182,969

 

 
(51,915
)
 
345,947

Depreciation, depletion and amortization
 
113,811

 
46,992

 
45,715

 
1,835

 

 
208,353

Impairments (1)
 
161,563

 

 

 

 

 
161,563

Total expenses
 
402,113

 
135,146

 
228,684

 
1,835

 
(51,915
)
 
715,863

Total operating income (loss) (2)
 
(107,892
)
 
(13,060
)
 
9,101

 
(1,835
)
 

 
 
General and administrative expense
 

 

 

 
(33,337
)
 

 
(33,337
)
Gain (loss) on disposition of assets
 
(324
)
 
3,184

 
(302
)
 
(18
)
 

 
2,540

Loss on derivatives
 

 

 

 
(22,813
)
 

 
(22,813
)
Interest expense, net
 

 

 

 
(39,829
)
 

 
(39,829
)
Other
 

 

 

 
307

 

 
307

Income (loss) before income taxes
 
$
(108,216
)
 
$
(9,876
)
 
$
8,799

 
$
(97,525
)
 
$

 
$
(206,818
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Identifiable assets:
 
 
 
 
 
 
 
 
 
 
 
 
Oil and natural gas (3)
 
$
965,159

 
$

 
$

 
$

 
$

 
$
965,159

Contract drilling
 

 
941,676

 

 

 

 
941,676

Gas gathering and processing
 

 

 
461,600

 

 

 
461,600

Total identifiable assets (4)
 
965,159

 
941,676

 
461,600

 

 

 
2,368,435

Corporate land and building
 

 

 

 
58,188

 

 
58,188

Other corporate assets (5)
 

 

 

 
52,680

 

 
52,680

Total assets
 
$
965,159

 
$
941,676

 
$
461,600

 
$
110,868

 
$

 
$
2,479,303

 
 
 
 
 
 
 
 
 
 
 
 
 
Capital expenditures:
 
$
89,562

 
$
19,134

 
$
16,796

 
$
16,663

 
$

 
$
142,155


_______________________ 
(1)
We incurred non-cash ceiling test write-down of our oil and natural gas properties of $161.6 million pre-tax ($100.6 million, net of tax).
(2)
Operating income (loss) is total operating revenues less operating expenses, depreciation, depletion, amortization, and impairment and does not include general corporate expenses, gain (loss) on disposition of assets, loss on derivatives, interest expense, other income (loss), or income taxes.
(3)
Oil and natural gas assets include oil and natural gas properties, saltwater disposal systems, and other non-full cost pool assets.
(4)
Identifiable assets are those used in Unit’s operations in each industry segment.
(5)
Corporate assets are principally cash and cash equivalents, short-term investments, transportation equipment, furniture, and equipment.


 
 
Year Ended December 31, 2015
 
 
Oil and Natural Gas
 
Contract Drilling
 
Mid-stream
 
Other
 
Eliminations
 
Total Consolidated
 
 
(In thousands)
Revenues:
 
 
 
 
 
 
 
 
 
 
 
 
Oil and natural gas
 
$
385,774

 
$

 
$

 
$

 
$

 
$
385,774

Contract drilling
 

 
287,767

 

 

 
(22,099
)
 
265,668

Gas gathering and processing
 

 

 
268,012

 

 
(65,223
)
 
202,789

Total revenues
 
385,774

 
287,767

 
268,012

 

 
(87,322
)
 
854,231

Expenses:
 
 
 
 
 
 
 
 
 
 
 
 
Operating costs:
 
 
 
 
 
 
 
 
 
 
 
 
Oil and natural gas
 
170,831

 

 

 

 
(4,785
)
 
166,046

Contract drilling
 

 
174,757

 

 

 
(18,349
)
 
156,408

Gas gathering and processing
 

 

 
221,994

 

 
(60,438
)
 
161,556

Total operating costs
 
170,831

 
174,757

 
221,994

 

 
(83,572
)
 
484,010

Depreciation, depletion and amortization
 
251,944

 
56,135

 
43,676

 
987

 

 
352,742

Impairments (1)
 
1,599,348

 
8,314

 
26,966

 

 

 
1,634,628

Total expenses
 
2,022,123

 
239,206

 
292,636

 
987

 
(83,572
)
 
2,471,380

Total operating income (loss) (2)
 
(1,636,349
)
 
48,561

 
(24,624
)
 
(987
)
 
(3,750
)
 
 
General and administrative expense
 

 

 

 
(34,358
)
 

 
(34,358
)
Gain (loss) on disposition of assets
 
(147
)
 
(7,516
)
 
465

 
(31
)
 

 
(7,229
)
Gain on derivatives
 

 

 

 
26,345

 

 
26,345

Interest expense, net
 

 

 

 
(31,963
)
 

 
(31,963
)
Other
 

 

 

 
45

 

 
45

Income (loss) before income taxes
 
$
(1,636,496
)
 
$
41,045

 
$
(24,159
)
 
$
(40,949
)
 
$
(3,750
)
 
$
(1,664,309
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Identifiable assets:
 
 
 
 
 
 
 
 
 
 
 
 
Oil and natural gas (3)
 
$
1,218,036

 
$

 
$

 
$

 
$

 
$
1,218,036

Contract drilling
 

 
993,015

 

 

 

 
993,015

Gas gathering and processing
 

 

 
478,661

 

 

 
478,661

Total identifiable assets (4)
 
1,218,036

 
993,015

 
478,661

 

 

 
2,689,712

Corporate land and building
 

 

 

 
49,890

 

 
49,890

Other corporate assets (5)
 

 

 

 
60,240

 


 
60,240

Total assets
 
$
1,218,036

 
$
993,015

 
$
478,661

 
$
110,130

 
$

 
$
2,799,842

 
 
 
 
 
 
 
 
 
 
 
 
 
Capital expenditures:
 
$
267,944

 
$
84,802

 
$
63,476

 
$
38,065

 
$

 
$
454,287

_______________________ 
(1)
We incurred non-cash ceiling test write-down of our oil and natural gas properties of $1.6 billion pre-tax ($1.0 billion, net of tax). Impairment for contract drilling equipment includes an $8.3 million pre-tax write-down for 30 drilling rigs and other drilling equipment. Impairment for gas gathering and processing systems includes $27.0 million pre-tax write-down for three of our systems, Bruceton Mills, Midwell, and Spring Creek.
(2)
Operating income (loss) is total operating revenues less operating expenses, depreciation, depletion, amortization, and impairment and does not include general corporate expenses, gain (loss) on disposition of assets, gain on derivatives, interest expense, other income (loss), or income taxes.
(3)
Oil and natural gas assets include oil and natural gas properties, saltwater disposal systems, and other non-full cost pool assets.
(4)
Identifiable assets are those used in Unit’s operations in each industry segment.
(5)
Corporate assets are principally cash and cash equivalents, short-term investments, transportation equipment, furniture, and equipment.