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Business Segment Information
 6 Months Ended
Jun. 30, 2014
Segment Reporting [Abstract]  
Business Segment Information
Business Segment Information

The Company’s 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, related product sales and 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 and fresh water sales. 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 expenses. The following table summarizes financial information for the Company’s segments for the periods presented:
 
 
Exploration and
Production
 
Well Services
 
Midstream Services
 
Consolidated
 
(In thousands)
Three months ended June 30, 2014:
 
Revenues
$
354,183

 
$
58,447

 
$
13,478

 
$
426,108

Inter-segment revenues
—

 
(43,570
)
 
(10,160
)
 
(53,730
)
Total revenues
354,183

 
14,877

 
3,318

 
372,378

Operating income
158,353

 
6,858

 
1,334

 
166,545

Other income (expense)
(104,448
)
 
23

 
—

 
(104,425
)
Income before income taxes
53,905

 
6,881

 
1,334

 
62,120

 
 
Three months ended June 30, 2013:
 
 
 
 
 
 
 
Revenues
$
241,842

 
$
31,382

 
$
7,035

 
$
280,259

Inter-segment revenues
—

 
(19,921
)
 
(5,756
)
 
(25,677
)
Total revenues
241,842

 
11,461

 
1,279

 
254,582

Operating income
105,459

 
3,310

 
4,681

 
113,450

Other income (expense)
(8,511
)
 
4

 
—

 
(8,507
)
Income before income taxes
96,948

 
3,314

 
4,681

 
104,943

 
 
Six months ended June 30, 2014:
 
Revenues
$
686,030

 
$
110,853

 
$
22,831

 
$
819,714

Inter-segment revenues
—

 
(80,149
)
 
(17,668
)
 
(97,817
)
Total revenues
686,030

 
30,704

 
5,163

 
721,897

Operating income
484,886

 
8,478

 
2,261

 
495,625

Other income (expense)
(162,108
)
 
75

 
—

 
(162,033
)
Income before income taxes
322,778

 
8,553

 
2,261

 
333,592

 
 
Six months ended June 30, 2013:
 
 
 
 
 
 
 
Revenues
$
483,493

 
$
67,150

 
$
11,855

 
$
562,498

Inter-segment revenues
—

 
(49,975
)
 
(9,637
)
 
(59,612
)
Total revenues
483,493

 
17,175

 
2,218

 
502,886

Operating income
218,357

 
5,873

 
7,173

 
231,403

Other income (expense)
(43,530
)
 
8

 
—

 
(43,522
)
Income before income taxes
174,827

 
5,881

 
7,173

 
187,881

 
 
Total assets:
 
As of June 30, 2014
$
4,844,196

 
$
77,050

 
$
115,733

 
$
5,036,979

As of December 31, 2013
4,532,264

 
70,708

 
108,952

 
4,711,924