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Business Segment Information
 12 Months Ended
Dec. 31, 2013
Segment Reporting [Abstract]  
Business Segment Information
Business Segment Information
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. 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 and district tool rentals. 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. 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 operating expenses, including depreciation, depletion and amortization. Summarized financial information for the Company’s three business segments is shown in the following table:
 
 
Exploration and
Production
 
Well Services
 
Midstream Services
 
Consolidated
 
(In thousands)
Year Ended December 31, 2013
 
Revenues
$
1,084,412

 
$
180,686

 
$
29,230

 
$
1,294,328

Inter-segment revenues
—

 
(128,841
)
 
(23,488
)
 
(152,329
)
Total revenues
1,084,412

 
51,845


5,742

 
1,141,999

Operating income
486,697

 
14,305

 
3,396

 
504,398

Other income (expense)
(141,397
)
 
16

 
—

 
(141,381
)
Income before income taxes
345,300

 
14,321

 
3,396

 
363,017

Total assets(1)
4,532,264

 
70,708

 
108,952

 
4,711,924

Capital expenditures(2)
2,472,126

 
15,217

 
18,955

 
2,506,298

Depreciation, depletion and amortization
304,389

 
2,091

 
575

 
307,055

Year Ended December 31, 2012
 
Revenues
$
670,491

 
$
82,481

 
$
—

 
$
752,972

Inter-segment revenues
—

 
(66,304
)
 
—

 
(66,304
)
Total revenues
670,491

 
16,177

 
—

 
686,668

Operating income
276,740

 
253

 
—

 
276,993

Other income (expense)
(31,120
)
 
1

 
—

 
(31,119
)
Income before income taxes
245,620

 
254

 
—

 
245,874

Total assets
2,475,820

 
52,974

 
—

 
2,528,794

Capital expenditures(2)
1,132,894

 
15,679

 
—

 
1,148,573

Depreciation, depletion and amortization
206,127

 
607

 
—

 
206,734

 
(1)
Total assets for the exploration and production segment includes $137.1 million of assets held for sale as of December 31, 2013.
(2)
Capital expenditures reflected in the table above differ from the amounts shown in the Consolidated Statement of Cash Flows because amounts reflected in the table include changes in accrued liabilities from the previous reporting period for capital expenditures, while the amounts presented in the Consolidated Statement of Cash Flows are presented on a cash basis.