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Business Segment Information
 3 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]  
Business Segment Information Business Segment Information
The Company has two reportable segments: E&P and midstream. The Company’s E&P business segment is engaged in the acquisition and development of oil and gas properties. Revenues for the E&P business segment are primarily derived from the sale of crude oil and natural gas production.
The Company’s midstream business segment performs midstream services including: (i) natural gas gathering, compression, processing, gas lift supply; (ii) crude oil gathering, terminaling and transportation; (iii) produced and flowback water gathering and disposal; and (iv) freshwater supply and distribution. Revenues for the midstream segment are derived from performing these services to the Company’s E&P segment, as well as third-party producers. The revenues and expenses related to 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 Condensed 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&PMidstreamEliminationsConsolidated
 (In thousands)
Successor
Three months ended March 31, 2021:
Revenues from non-affiliates$282,698 $72,761 $— $355,459 
Inter-segment revenues— 41,356 (41,356)— 
Total revenues282,698 114,117 (41,356)355,459 
Operating income103,180 48,667 (1,012)150,835 
Total other income (expense), net(185,896)(3,858)— (189,754)
Income (loss) before income taxes including non-controlling interests$(82,716)$44,809 $(1,012)$(38,919)
Lease operating expenses$51,064 $— $(15,804)$35,260 
Gathering, processing and transportation expenses28,105 — (12,394)15,711 
General and administrative expenses15,675 8,560 (3,498)20,737 
Equity-based compensation expenses1,688 510 — 2,198 
 
Predecessor
Three months ended March 31, 2020:
Revenues from non-affiliates$331,387 $56,411 $— $387,798 
Inter-segment revenues— 68,544 (68,544)— 
Total revenues331,387 124,955 (68,544)387,798 
Operating loss(4,817,255)(42,226)(3,047)(4,862,528)
Total other income (expense), net303,998 (30,483)— 273,515 
Loss before income taxes including non-controlling interests$(4,513,257)$(72,709)$(3,047)$(4,589,013)
Lease operating expenses$65,813 $— $(16,044)$49,769 
Gathering, processing and transportation expenses42,714 — (13,250)29,464 
General and administrative expenses26,673 8,602 (4,101)31,174 
Equity-based compensation expenses6,596 428 (217)6,807 
Successor
At March 31, 2021:
Property, plant and equipment, net$836,605 $883,730 $(786)$1,719,549 
Total assets
1,244,395 1,053,569 (786)2,297,178 
At December 31, 2020:
Property, plant and equipment, net$837,020 $892,043 $(276)$1,728,787 
Total assets
1,093,253 1,066,060 (276)2,159,037