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Business Segment Information
 3 Months Ended
Mar. 31, 2013
Segment Reporting [Abstract]  
Business Segment Information

12. Business Segment Information

In the first quarter of 2012, the Company began its well services business segment (OWS) to perform completion services for the Company’s oil and natural gas wells operated by OPNA. Revenues for the well services segment are derived from providing well completion services and related product sales. The revenues and expenses related to work performed by OWS for OPNA’s working interests are eliminated in consolidation, and only the revenues and expenses related to non-affiliated working interest owners are included in the Company’s Condensed Consolidated Statement of Operations. Prior to 2012, the Company only operated its exploration and production segment. The exploration and production segment is engaged in the acquisition and development of oil and natural gas properties and includes the complementary marketing services and midstream services provided by OPM and OMS, respectively. Revenues for the exploration and production segment are primarily derived from the sale of oil and natural gas production. These segments represent the Company’s two current operating units, each offering different products and services. The Company’s corporate activities have been allocated to the supported business segments accordingly.

Management evaluates the performance of the Company’s business segments based on operating income, which is defined as segment operating revenues less expenses. Summarized financial information for the Company’s segments is shown in the following table:

 

     Exploration and
Production		     Well Services     Consolidated  
     (In thousands)  

Three Months Ended March 31, 2013

   

Revenues

    $ 242,590      $ 35,768      $ 278,358   

Inter-segment revenues

      —         (30,054 )      (30,054 ) 
  

 

 

    

 

 

    

 

 

  

Total revenues

      242,590        5,714        248,304   
  

 

 

    

 

 

    

 

 

  

Operating income

      115,390        2,563        117,953   

Other income (expense)

      (35,019 )      4        (35,015 ) 

Income before income taxes

      80,371        2,567        82,938   

Total assets as of March 31, 2013

      2,574,554        72,164        2,646,718   

Total assets as of December 31, 2012

      2,475,820        52,974        2,528,794   
     Exploration and
Production		     Well Services     Consolidated  
     (In thousands)  

Three Months Ended March 31, 2012

   

Revenues

    $ 137,907      $ 1,244      $ 139,151   

Inter-segment revenues

      —         (585 )      (585 ) 
  

 

 

    

 

 

    

 

 

  

Total revenues

      137,907        659        138,566   
  

 

 

    

 

 

    

 

 

  

Operating income

      60,243        (2,093 )      58,150   

Other income (expense)

      (31,887 )      —         (31,887 ) 

Income before income taxes

      28,356        (2,093 )      26,263