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Business Segment Information
 12 Months Ended
Dec. 31, 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. 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 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 DD&A. The following table summarizes financial information for the Company’s three business segments for the periods presented:
 
Exploration and
Production
 
Well Services
 
Midstream Services
 
Eliminations
 
Consolidated
 
(In thousands)
Year Ended December 31, 2014
 
Revenues
$
1,304,004

 
$
74,610

 
$
11,614

 
$
—

 
$
1,390,228

Inter-segment revenues
—

 
192,774

 
39,344

 
(232,118
)
 
—

Total revenues
1,304,004

 
267,384


50,958

 
(232,118
)
 
1,390,228

Operating income
610,850

 
70,878

 
22,730

 
(58,806
)
 
645,652

Other income (expense)
168,741

 
75

 
—

 
—

 
168,816

Income before income taxes
$
779,591

 
$
70,953

 
$
22,730

 
$
(58,806
)
 
$
814,468

Total assets
$
5,802,295

 
$
281,844

 
$
212,685

 
$
(358,412
)
 
$
5,938,412

Capital expenditures(1)
1,525,168

 
37,292

 
68,939

 
(58,806
)
 
1,572,593

Depreciation, depletion and amortization
406,960

 
14,080

 
3,744

 
(12,450
)
 
412,334

Impairment of oil and gas properties
47,238

 
—

 
—

 
—

 
47,238

 
 
 
 
 
 
 
 
 
 
Year Ended December 31, 2013
 
Revenues
$
1,084,412

 
$
51,845

 
$
5,742

 
$
—

 
$
1,141,999

Inter-segment revenues
—

 
128,841

 
23,488

 
(152,329
)
 
—

Total revenues
1,084,412

 
180,686

 
29,230

 
(152,329
)
 
1,141,999

Operating income
473,178

 
56,322

 
17,509

 
(42,611
)
 
504,398

Other income (expense)
(141,397
)
 
16

 
—

 
—

 
(141,381
)
Income before income taxes
$
331,781

 
$
56,338

 
$
17,509

 
$
(42,611
)
 
$
363,017

Total assets(2)
$
4,592,140

 
$
78,359

 
$
117,641

 
$
(76,216
)
 
$
4,711,924

Capital expenditures(1)
2,514,737

 
15,217

 
18,955

 
(42,611
)
 
2,506,298

Depreciation, depletion and amortization
304,388

 
7,150

 
2,780

 
(7,263
)
 
307,055

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year Ended December 31, 2012
 
 
 
 
 
 
 
 
 
Revenues
$
670,491

 
$
16,177

 
$
—

 
$
—

 
$
686,668

Inter-segment revenues
—

 
66,304

 
—

 
(66,304
)
 
—

Total revenues
670,491

 
82,481

 
—

 
(66,304
)
 
686,668

Operating income
276,740

 
17,798

 
—

 
(17,545
)
 
276,993

Other income (expense)
(31,120
)
 
1

 
—

 
—

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

 
$
17,799

 
$
—

 
$
(17,545
)
 
$
245,874

Total assets
$
2,493,364

 
$
63,875

 
$
—

 
$
(28,445
)
 
$
2,528,794

Capital expenditures(1)
1,150,439

 
15,679

 
—

 
(17,545
)
 
1,148,573

Depreciation, depletion and amortization
206,127

 
2,694

 
—

 
(2,087
)
 
206,734

__________________ 
(1)
Capital expenditures (including acquisitions) reflected in the table above differ from the amounts for capital expenditures and acquisition of oil and gas properties shown in the Company’s 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. In addition, acquisitions reflected in the table include inventory purchased as part of our acquisitions, which is included in net cash provided by operating activities in the Consolidated Statement of Cash Flows, as well as non-cash purchase price adjustments, which are not included in the Consolidated Statement of Cash Flows.
(2)
Total assets for the exploration and production segment include $137.1 million of assets held for sale as of December 31, 2013.