Industry Segment Information (Tables)

9 Months Ended

Sep. 30, 2021

The following tables provide certain information about the operations of each of our segments:


	Successor
	Three Months Ended September 30, 2021
	Oil and Natural Gas		Contract Drilling		Mid-Stream		Corporate and Other		Eliminations		Total Consolidated
	(In thousands)
Revenues: (1)
Oil and natural gas	$	66,202	$	—	$	—	$	—	$	(13,322)	$	52,880
Contract drilling	—		19,158		—		—		—		19,158
Gas gathering and processing	—		—		92,022		—		(812)		91,210
Total revenues	66,202		19,158		92,022		—		(14,134)		163,248
Expenses:
Operating costs:
Oil and natural gas	22,022		—		—		—		(812)		21,210
Contract drilling	—		15,357		—		—		—		15,357
Gas gathering and processing	—		—		76,823		—		(14,202)		62,621
Total operating costs	22,022		15,357		76,823		—		(15,014)		99,188
Depreciation, depletion, and amortization	5,311		1,576		8,143		264		—		15,294

Total expenses	27,333		16,933		84,966		264		(15,014)		114,482

General and administrative	—		—		—		4,246		880		5,126
Gain on disposition of assets	(14)		(3,091)		—		(926)		—		(4,031)
Income (loss) from operations	38,883		5,316		7,056		(3,584)		—		47,671
Loss on derivatives	—		—		—		(39,742)		—		(39,742)
Loss on change in fair value of warrants	—		—		—		(9,054)		—		(9,054)

Reorganization items, net	—		—		—		(971)		—		(971)
Interest, net	—		—		(250)		(452)		—		(702)
Other	51		(34)		(24)		—		—		(7)
Income (loss) before income taxes	$	38,934	$	5,282	$	6,782	$	(53,803)	$	—	$	(2,805)

_______________________

1.The revenues for oil and natural gas occur at a point in time. The revenues for contract drilling and gas gathering and processing occur over time.


	Successor
	One Month Ended September 30, 2020
	Oil and Natural Gas		Contract Drilling		Mid-Stream		Corporate and Other		Eliminations		Total Consolidated
	(In thousands)
Revenues: (1)
Oil and natural gas	$	13,644	$	—	$	—	$	—	$	(1)	$	13,643
Contract drilling	—		4,414		—		—		—		4,414
Gas gathering and processing	—		—		17,284		—		(2,495)		14,789
Total revenues	13,644		4,414		17,284		—		(2,496)		32,846
Expenses:
Operating costs:
Oil and natural gas	6,892		—		—		—		(218)		6,674
Contract drilling	—		2,989		—		—		—		2,989
Gas gathering and processing	—		—		12,130		—		(2,278)		9,852
Total operating costs	6,892		2,989		12,130		—		(2,496)		19,515
Depreciation, depletion, and amortization	4,199		526		2,658		84		—		7,467
Impairments	13,237		—		—		—		—		13,237
Total expenses	24,328		3,515		14,788		84		(2,496)		40,219
General and administrative	—		—		—		1,582		—		1,582
Gain on disposition of assets	(10)		(212)		—		—		—		(222)
Income (loss) from operations	(10,674)		1,111		2,496		(1,666)		—		(8,733)
Gain on derivatives	—		—		—		3,939		—		3,939
Reorganization items, net	—		—		—		(1,155)		—		(1,155)
Interest, net	—		—		(137)		(689)		—		(826)
Other	29		1		8		1		—		39
Income (loss) before income taxes	$	(10,645)	$	1,112	$	2,367	$	430	$	—	$	(6,736)

_______________________

1.The revenues for oil and natural gas occur at a point in time. The revenues for contract drilling and gas gathering and processing occur over time.


	Predecessor
	Two Months Ended August 31, 2020
	Oil and Natural Gas		Contract Drilling		Mid-Stream			Corporate and Other		Eliminations		Total Consolidated
	(In thousands)
Revenues: (1)
Oil and natural gas	$	27,962	$	—	$	—		$	—	$	(1)	$	27,961
Contract drilling	—		7,685		—			—		—		7,685
Gas gathering and processing	—		—		34,132			—		(4,204)		29,928
Total revenues	27,962		7,685		34,132			—		(4,205)		65,574
Expenses:
Operating costs:
Oil and natural gas	15,895		—		—			—		(407)		15,488
Contract drilling	—		5,410		—			—		—		5,410
Gas gathering and processing	—		—		21,620			—		(3,798)		17,822
Total operating costs	15,895		5,410		21,620			—		(4,205)		38,720
Depreciation, depletion, and amortization	9,975		853		6,750			341		—		17,919
Impairments	16,572		—		—			—		—		16,572
Total expenses	42,442		6,263		28,370			341		(4,205)		73,211
Loss on abandonment of assets	87		1,092		—			—		—		1,179
General and administrative	—		—		—			5,399		—		5,399
Gain on disposition of assets	(102)		(1,251)		(3)		0	—		—		(1,356)
Income (loss) from operations	(14,465)		1,581		5,765			(5,740)		—		(12,859)
Loss on derivatives	—		—		—			(4,250)		—		(4,250)
Reorganization items, net	15,504		(183,664)		(71,016)			380,178		—		141,002
Interest, net	—		—		(828)			(1,131)		—		(1,959)
Other	428		1,426		11			66		—		1,931
Income (loss) before income taxes	$	1,467	$	(180,657)	$	(66,068)		$	369,123	$	—	$	123,865

_______________________

1.The revenues for oil and natural gas occur at a point in time. The revenues for contract drilling and gas gathering and processing occur over time.


	Successor
	Nine Months Ended September 30, 2021
	Oil and Natural Gas		Contract Drilling		Mid-Stream		Corporate and Other		Eliminations		Total Consolidated
	(In thousands)
Revenues: (1)
Oil and natural gas	$	181,003	$	—	$	—	$	—	$	(31,129)	$	149,874
Contract drilling	—		52,893		—		—		—		52,893
Gas gathering and processing	—		—		217,954		—		(2,519)		215,435
Total revenues	181,003		52,893		217,954		—		(33,648)		418,202
Expenses:
Operating costs:
Oil and natural gas	58,365		—		—		—		(2,519)		55,846
Contract drilling	—		41,308		—		—		—		41,308
Gas gathering and processing	—		—		181,109		—		(33,769)		147,340
Total operating costs	58,365		41,308		181,109		—		(36,288)		244,494
Depreciation, depletion, and amortization	19,442		4,721		24,238		768		—		49,169

Impairment	—		—		—		—		—		—
Total expenses	77,807		46,029		205,347		768		(36,288)		293,663


General and administrative	—		—		—		15,406		2,640		18,046
(Gain) loss on disposition of assets	(101)		(5,237)		75		(950)		—		(6,213)
Income (loss) from operations	103,297		12,101		12,532		(15,224)		—		112,706
Loss on derivatives	—		—		—		(104,973)		—		(104,973)

Loss on change in fair value of warrants	—		—		—		(12,628)		—		(12,628)
Reorganization items, net	—		—		—		(3,959)		—		(3,959)
Interest, net	—		—		(666)		(3,229)		—		(3,895)
Other	140		(17)		(863)		(22)		—		(762)
Income (loss) before income taxes	$	103,437	$	12,084	$	11,003	$	(140,035)	$	—	$	(13,511)

_______________________

1.The revenues for oil and natural gas occur at a point in time. The revenues for contract drilling and gas gathering and processing occur over time.


	Predecessor
	Eight Months Ended August 31, 2020
	Oil and Natural Gas		Contract Drilling		Mid-Stream		Corporate and Other		Eliminations		Total Consolidated
	(In thousands)
Revenues: (1)
Oil and natural gas	$	103,443	$	—	$	—	$	—	$	(4)	$	103,439
Contract drilling	—		73,519		—		—		—		73,519
Gas gathering and processing	—		—		114,531		—		(14,532)		99,999
Total revenues	103,443		73,519		114,531		—		(14,536)		276,957
Expenses:
Operating costs:
Oil and natural gas	119,664		—		—		—		(1,973)		117,691
Contract drilling	—		51,811		—		—		(1)		51,810
Gas gathering and processing	—		—		80,607		—		(12,562)		68,045
Total operating costs	119,664		51,811		80,607		—		(14,536)		237,546
Depreciation, depletion, and amortization	68,762		15,544		29,371		1,819		—		115,496
Impairments	393,726		410,126		63,962		—		—		867,814
Total expenses	582,152		477,481		173,940		1,819		(14,536)		1,220,856
Loss on abandonment of assets	17,641		1,092		—		—		—		18,733
General and administrative	—		—		—		42,766		—		42,766
(Gain) loss on disposition of assets	(160)		(1,390)		(18)		1,479		—		(89)
Loss from operations	(496,190)		(403,664)		(59,391)		(46,064)		—		(1,005,309)
Loss on derivatives	—		—		—		(10,704)		—		(10,704)
Write-off of debt issuance costs	—		—		—		(2,426)		—		(2,426)
Reorganization items, net	15,504		(183,664)		(71,016)		373,151		—		133,975
Interest, net	—		—		(1,888)		(20,936)		—		(22,824)
Other	458		1,449		50		77		—		2,034
Income (loss) before income taxes	$	(480,228)	$	(585,879)	$	(132,245)	$	293,098	$	—	$	(905,254)

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1.The revenues for oil and natural gas occur at a point in time. The revenues for contract drilling and gas gathering and processing occur over time.