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Business Segment Information | 12 Months Ended
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Dec. 31, 2020
Segment Reporting [Abstract] |
Business Segment Information | Business Segment Information The Company has two reportable segments: E&P and midstream. Prior to the Well Services Exit in the first quarter of 2020, the Company also had a well services segment, which is no longer a reportable segment and the remaining services performed by OWS are reported within the Company’s E&P segment. To conform to the current period reportable segments presentation, the prior periods have been restated to reflect the change in reportable segments. The Company’s E&P segment is engaged in the acquisition and development of oil and gas properties. Revenues for the E&P segment are derived from the sale of crude oil and natural gas production. The Company’s midstream segment performs midstream services including: (i) natural gas gathering, compression, processing and gas lift supply; (ii) crude oil gathering, terminaling and transportation; (iii) produced and flowback water gathering and disposal; and (iv) freshwater distribution. Revenues for the midstream segment are derived from performing these midstream services to support the E&P operations of the Company as well as third-party producers. The revenues and expenses related to goods and services provided by the midstream segment for the Company’s ownership interests are eliminated in consolidation, and only the revenues and expenses related to non-affiliated interest owners and third-party customers are included in the Company’s Consolidated Statements of Operations. 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 (loss), which is defined as segment operating revenues less operating expenses, including depreciation, depletion and amortization. The following table summarizes financial information for the Company’s two business segments for the periods presented:
| E&P |  | Midstream |  | Eliminations |  | Consolidated
| (In thousands)
Successor |  |  |  |  |  |  |
Period from November 20, 2020 through December 31, 2020 |
Revenues from external customers | $ | 93,794 |  |  | $ | 26,121 |  |  | $ | — |  |  | $ | 119,915 |
Inter-segment revenues | — |  |  | 17,136 |  |  | (17,136) |  |  | — |
Total revenues | 93,794 |  |  | 43,257 |  |  | (17,136) |  |  | 119,915 |
Operating income (loss) | 18,662 |  |  | 20,702 |  |  | (588) |  |  | 38,776 |
Other income (expense), net | (87,161) |  |  | (1,024) |  |  | — |  |  | (88,185) |
Income (loss) before income taxes including non-controlling interests | $ | (68,499) |  |  | $ | 19,678 |  |  | $ | (588) |  |  | $ | (49,409) |
Total assets(1) | $ | 1,093,253 |  |  | $ | 1,066,060 |  |  | $ | (276) |  |  | $ | 2,159,037 |
Property, plant and equipment, net | 837,020 |  |  | 892,043 |  |  | (276) |  |  | 1,728,787 |
Capital expenditures(2) | 15,403 |  |  | 3,054 |  |  | (385) |  |  | 18,072 |
Depreciation, depletion and amortization | 13,789 |  |  | 4,199 |  |  | (1,894) |  |  | 16,094 |
General and administrative | 12,234 |  |  | 3,850 |  |  | (1,860) |  |  | 14,224 |
Equity-based compensation | — |  |  | 270 |  |  | — |  |  | 270 |
Predecessor |  |  |  |  |  |  |
Period from January 1, 2020 through November 19, 2020 |
Revenues from external customers | $ | 775,888 |  |  | $ | 187,531 |  |  | $ | — |  |  | $ | 963,419 |
Inter-segment revenues | — |  |  | 189,284 |  |  | (189,284) |  |  | — |
Total revenues | 775,888 |  |  | 376,815 |  |  | (189,284) |  |  | 963,419 |
Operating income | (4,957,630) |  |  | 51,989 |  |  | (6,118) |  |  | (4,911,759) |
Other income (expense), net | 842,783 |  |  | 84,627 |  |  | (3,224) |  |  | 924,186 |
Income (loss) before income taxes including non-controlling interests | $ | (4,114,847) |  |  | $ | 136,616 |  |  | $ | (9,342) |  |  | $ | (3,987,573) |
Capital expenditures(2) | $ | 203,847 |  |  | $ | 24,266 |  |  | $ | (2,772) |  |  | $ | 225,341 |
Depreciation, depletion and amortization | 271,002 |  |  | 36,670 |  |  | (16,557) |  |  | 291,115 |
General and administrative | 125,818 |  |  | 34,103 |  |  | (14,627) |  |  | 145,294 |
Equity-based compensation | 29,794 |  |  | 1,930 |  |  | (409) |  |  | 31,315 |
Impairment | 4,825,530 |  |  | 111,613 |  |  | — |  |  | 4,937,143 |
Predecessor |  |  |  |  |  |  |
Year Ended December 31, 2019 |
Revenues from external customers | $ | 1,859,506 |  |  | $ | 212,238 |  |  | $ | — |  |  | $ | 2,071,744 |
Inter-segment revenues | — |  |  | 276,189 |  |  | (276,189) |  |  | — |
Total revenues | 1,859,506 |  |  | 488,427 |  |  | (276,189) |  |  | 2,071,744 |
Operating income (loss) | (75,986) |  |  | 241,161 |  |  | (10,752) |  |  | 154,423 |
Other expense, net | (260,720) |  |  | (17,065) |  |  | — |  |  | (277,785) |
Income (loss) before income taxes including non-controlling interests | $ | (336,706) |  |  | $ | 224,096 |  |  | $ | (10,752) |  |  | $ | (123,362) |
Total assets(1) | $ | 6,418,610 |  |  | $ | 1,121,159 |  |  | $ | (40,516) |  |  | $ | 7,499,253 |
Property, plant and equipment, net | 5,939,389 |  |  | 1,078,903 |  |  | (40,516) |  |  | 6,977,776 |
Capital expenditures(2) | 642,352 |  |  | 212,381 |  |  | (11,365) |  |  | 843,368 |
Depreciation, depletion and amortization | 771,640 |  |  | 37,152 |  |  | (21,600) |  |  | 787,192 |
General and administrative | 108,945 |  |  | 31,737 |  |  | (17,176) |  |  | 123,506 |
Equity-based compensation | 32,755 |  |  | 1,744 |  |  | (892) |  |  | 33,607 |
Impairment | 10,257 |  |  | — |  |  | — |  |  | 10,257 |
Predecessor |  |  |  |  |  |  |
Year Ended December 31, 2018 |  |  |  |  |  |  |
Revenues from external customers | $ | 2,197,810 |  |  | $ | 124,137 |  |  | $ | — |  |  | $ | 2,321,947 |
Inter-segment revenues | — |  |  | 162,505 |  |  | (162,505) |  |  | — |
Total revenues | 2,197,810 |  |  | 286,642 |  |  | (162,505) |  |  | 2,321,947 |
Operating income (loss) | (14,992) |  |  | 143,126 |  |  | (9,122) |  |  | 119,012 |
Other expense | (142,230) |  |  | (2,125) |  |  | — |  |  | (144,355) |
Income (loss) before income taxes including non-controlling interests | $ | (157,222) |  |  | $ | 141,001 |  |  | $ | (9,122) |  |  | $ | (25,343) |
Total assets(1) | $ | 6,747,616 |  |  | $ | 907,677 |  |  | $ | (29,151) |  |  | $ | 7,626,142 |
Property, plant and equipment, net | 6,162,975 |  |  | 893,285 |  |  | (29,151) |  |  | 7,027,109 |
Capital expenditures(2) | 1,934,970 |  |  | 277,626 |  |  | (9,143) |  |  | 2,203,453 |
Depreciation, depletion and amortization | 623,133 |  |  | 29,282 |  |  | (16,119) |  |  | 636,296 |
General and administrative | 109,323 |  |  | 24,700 |  |  | (12,677) |  |  | 121,346 |
Equity-based compensation | 28,393 |  |  | 1,547 |  |  | (667) |  |  | 29,273 |
Impairment | 384,228 |  |  | — |  |  | — |  |  | 384,228 |
__________________ (1)Intercompany receivables (payables) for all segments were reclassified to capital contributions from (distributions to) parent and not included in total assets. (2)Capital expenditures reflected in the table above differ from the amounts for capital expenditures and acquisitions of oil and gas properties shown in the Company’s Consolidated Statements 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 Statements of Cash Flows are presented on a cash basis. Acquisitions totaled $21.0 million and $951.9 million for the years ended December 31, 2019 (Predecessor) and 2018 (Predecessor), respectively, in the E&P segment. There were no significant acquisitions during the period from January 1, 2020 through November 19, 2020 (Predecessor) and period from November 20, 2020 through December 31, 2020 (Successor). Additionally, capital expenditures reflected in the table includes consideration paid through the issuance of common stock in connection with the 2018 Permian Acquisition for the year ended December 31, 2018.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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