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Business Segment Information
 9 Months Ended
Sep. 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, well completion 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 salt water transport, salt water disposal 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
 
Eliminations
 
Consolidated
 
(In thousands)
Three months ended September 30, 2014:
 
Revenues from external customers
$
344,706

 
$
20,925

 
$
3,028

 
$
—

 
$
368,659

Inter-segment revenues
—

 
66,298

 
10,596

 
(76,894
)
 
—

Total revenues
344,706

 
87,223

 
13,624

 
(76,894
)
 
368,659

Operating income
126,184

 
23,388

 
5,126

 
(20,595
)
 
134,103

Other income (expense)
63,968

 
—

 
—

 
—

 
63,968

Income before income taxes
$
190,152

 
$
23,388

 
$
5,126

 
$
(20,595
)
 
$
198,071

 
 
Three months ended September 30, 2013:
 
 
 
 
 
 
 
 
 
Revenues from external customers
$
286,952

 
$
17,090

 
$
1,456

 
$
—

 
$
305,498

Inter-segment revenues
—

 
40,026

 
6,141

 
(46,167
)
 
—

Total revenues
286,952

 
57,116

 
7,597

 
(46,167
)
 
305,498

Operating income
140,765

 
19,094

 
4,394

 
(13,391
)
 
150,862

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

 
—

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

 
$
19,074

 
$
4,394

 
$
(13,391
)
 
$
88,214

 
 
Nine months ended September 30, 2014:
 
Revenues from external customers
$
1,030,735

 
$
51,630

 
$
8,191

 
$
—

 
$
1,090,556

Inter-segment revenues
—

 
146,447

 
28,264

 
(174,711
)
 
—

Total revenues
1,030,735

 
198,077

 
36,455

 
(174,711
)
 
1,090,556

Operating income
602,797

 
53,137

 
15,854

 
(42,060
)
 
629,728

Other income (expense)
(98,140
)
 
75

 
—

 
—

 
(98,065
)
Income before income taxes
$
504,657

 
$
53,212

 
$
15,854

 
$
(42,060
)
 
$
531,663

 
 
Nine months ended September 30, 2013:
 
 
 
 
 
 
 
 
 
Revenues from external customers
$
770,445

 
$
34,266

 
$
3,673

 
$
—

 
$
808,384

Inter-segment revenues
—

 
90,000

 
15,778

 
(105,778
)
 
—

Total revenues
770,445

 
124,266

 
19,451

 
(105,778
)
 
808,384

Operating income
359,121

 
39,513

 
11,790

 
(28,159
)
 
382,265

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

 
—

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

 
$
39,502

 
$
11,790

 
$
(28,159
)
 
$
276,095

 
 
Total assets:
 
As of September 30, 2014
$
5,344,775

 
$
212,131

 
$
157,209

 
$
(256,640
)
 
$
5,457,475

As of December 31, 2013
4,592,140

 
78,359

 
117,641

 
(76,216
)
 
4,711,924