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Business Segment Information
 9 Months Ended
Sep. 30, 2013
Segment Reporting [Abstract]  
Business Segment Information
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. In the first quarter of 2013, the Company formed its midstream services business segment (OMS) to perform salt water disposal and other midstream services for the Company’s oil and natural gas wells operated by OPNA. Revenues for the midstream segment are primarily derived from providing salt water disposal services. Prior to 2013, the salt water disposal systems were owned by OPNA, and the related income was included as a reduction to lease operating expenses. The revenues and expenses related to work performed by OWS and OMS 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 provided by OPM. 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 three 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
 
Midstream Services
 
Consolidated
 
(In thousands)
Three Months Ended September 30, 2013:
 
Revenues
$
286,952

 
$
57,116

 
$
7,597

 
$
351,665

Inter-segment revenues
—

 
(40,026
)
 
(6,141
)
 
(46,167
)
Total revenues
286,952

 
17,090

 
1,456

 
305,498

Operating income
140,765

 
5,870

 
4,227

 
150,862

Other income (expense)
(62,628
)
 
(20
)
 
—

 
(62,648
)
Income before income taxes
78,137

 
5,850

 
4,227

 
88,214

Three Months Ended September 30, 2012:
 
 
 
 
 
 
 
Revenues
$
178,748

 
$
37,160

 
$
—

 
$
215,908

Inter-segment revenues
—

 
(31,197
)
 
—

 
(31,197
)
Total revenues
178,748

 
5,963

 
—

 
184,711

Operating income (loss)
89,279

 
(17,241
)
 
—

 
72,038

Other income (expense)
(42,273
)
 
—

 
—

 
(42,273
)
Income (loss) before income taxes
47,006

 
(17,241
)
 
—

 
29,765

Nine Months Ended September 30, 2013:
 
Revenues
$
770,445

 
$
124,266

 
$
19,451

 
$
914,162

Inter-segment revenues
—

 
(90,000
)
 
(15,778
)
 
(105,778
)
Total revenues
770,445

 
34,266

 
3,673

 
808,384

Operating income
359,121

 
11,744

 
11,400

 
382,265

Other income (expense)
(106,159
)
 
(11
)
 
—

 
(106,170
)
Income before income taxes
252,962

 
11,733

 
11,400

 
276,095

Nine Months Ended September 30, 2012:
 
 
 
 
 
 
 
Revenues
$
461,857

 
$
54,909

 
$
—

 
$
516,766

Inter-segment revenues
—

 
(44,425
)
 
—

 
(44,425
)
Total revenues
461,857

 
10,484

 
—

 
472,341

Operating income
190,257

 
116

 
—

 
190,373

Other income (expense)
(12,863
)
 
—

 
—

 
(12,863
)
Income before income taxes
177,394

 
116

 
—

 
177,510

Total Assets:
 
As of September 30, 2013
$
3,916,554

 
$
68,869

 
$
97,960

 
$
4,083,383

As of December 31, 2012
2,475,820

 
52,974

 
—

 
2,528,794