XML 41 R30.htm IDEA: XBRL DOCUMENT
v3.24.2

SEGMENT INFORMATION (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2024
Segment Reporting [Abstract] |
Selected financial information for segments | The following tables present selected financial information for the periods presented regarding the Company’s business segments on a stand-alone basis, corporate expenses that are not allocated to a segment and the consolidation and elimination entries necessary to arrive at the financial information for the Company on a consolidated basis (in thousands). On a consolidated basis, midstream services revenues consist primarily of those revenues from midstream operations related to third parties, including working interest owners in the Company’s operated wells. All midstream services revenues associated with Company-owned production are eliminated in consolidation. In evaluating the operating results of the exploration and production and midstream segments, the Company does not allocate certain expenses to the individual segments, including general and administrative expenses. Such expenses are reflected in the column labeled “Corporate.”
| Exploration and Production |  |  |  |  |  | Consolidations and Eliminations |  | Consolidated Company
|  | Midstream |  | Corporate |  |
Three Months Ended June 30, 2024 |  |  |  |  |  |  |  |  |
Oil and natural gas revenues | $ | 772,267 |  |  | $ | 4,012 |  |  | $ | — |  |  | $ | — |  |  | $ | 776,279 |
Midstream services revenues | — |  |  | 104,345 |  |  | — |  |  | (71,694) |  |  | 32,651 |
Sales of purchased natural gas | 5,121 |  |  | 41,144 |  |  | — |  |  | — |  |  | 46,265 |
Realized gain on derivatives | 3,770 |  |  | — |  |  | — |  |  | — |  |  | 3,770 |
Unrealized loss on derivatives | (11,829) |  |  | — |  |  | — |  |  | — |  |  | (11,829) |
Expenses(1) | 436,960 |  |  | 93,618 |  |  | 24,632 |  |  | (71,694) |  |  | 483,516 |
Operating income(2) | $ | 332,369 |  |  | $ | 55,883 |  |  | $ | (24,632) |  |  | $ | — |  |  | $ | 363,620 |
Total assets | $ | 7,102,714 |  |  | $ | 1,369,461 |  |  | $ | 46,216 |  |  | $ | — |  |  | $ | 8,518,391 |
Capital expenditures(3) | $ | 471,863 |  |  | $ | 51,525 |  |  | $ | 545 |  |  | $ | — |  |  | $ | 523,933 |
_____________________ (1)Includes depletion, depreciation and amortization expenses of $214.7 million and $10.9 million for the exploration and production and midstream segments, respectively. Also includes corporate depletion, depreciation and amortization expenses of $0.3 million. (2)Includes $18.7 million in net income attributable to non-controlling interest in subsidiaries related to the midstream segment. (3)Includes $157.3 million attributable to land and seismic acquisition expenditures related to the exploration and production segment and $6.3 million in capital expenditures attributable to non-controlling interest in subsidiaries related to the midstream segment.
| Exploration and Production |  |  |  |  |  | Consolidations and Eliminations |  | Consolidated Company
|  | Midstream |  | Corporate |  |
Three Months Ended June 30, 2023 |  |  |  |  |  |  |  |  |
Oil and natural gas revenues | $ | 586,732 |  |  | $ | 1,185 |  |  | $ | — |  |  | $ | — |  |  | $ | 587,917 |
Midstream services revenues | — |  |  | 79,214 |  |  | — |  |  | (49,139) |  |  | 30,075 |
Sales of purchased natural gas | 5,544 |  |  | 26,354 |  |  | — |  |  | — |  |  | 31,898 |
Realized loss on derivatives | (3,148) |  |  | — |  |  | — |  |  | — |  |  | (3,148) |
Unrealized loss on derivatives | (8,659) |  |  | — |  |  | — |  |  | — |  |  | (8,659) |
Expenses(1) | 341,513 |  |  | 70,122 |  |  | 23,319 |  |  | (49,139) |  |  | 385,815 |
Operating income(2) | $ | 238,956 |  |  | $ | 36,631 |  |  | $ | (23,319) |  |  | $ | — |  |  | $ | 252,268 |
Total assets | $ | 5,998,037 |  |  | $ | 1,088,627 |  |  | $ | 45,674 |  |  | $ | — |  |  | $ | 7,132,338 |
Capital expenditures(3) | $ | 1,897,679 |  |  | $ | 82,129 |  |  | $ | 709 |  |  | $ | — |  |  | $ | 1,980,517 |
_____________________ (1)Includes depletion, depreciation and amortization expenses of $167.4 million and $9.8 million for the exploration and production and midstream segments, respectively. Also includes corporate depletion, depreciation and amortization expenses of $0.3 million. (2)Includes $12.4 million in net income attributable to non-controlling interest in subsidiaries related to the midstream segment. (3)Includes $1.59 billion attributable to land and seismic acquisition expenditures related to the exploration and production segment, $63.6 million attributable to midstream acquisition expenditures and $6.8 million in capital expenditures attributable to non-controlling interest in subsidiaries related to the midstream segment.
| Exploration and Production |  |  |  |  |  | Consolidations and Eliminations |  | Consolidated Company
|  | Midstream |  | Corporate |  |
Six Months Ended June 30, 2024 |  |  |  |  |  |  |  |  |
Oil and natural gas revenues | $ | 1,473,692 |  |  | $ | 6,706 |  |  | $ | — |  |  | $ | (579) |  |  | $ | 1,479,819 |
Midstream services revenues | — |  |  | 204,191 |  |  | — |  |  | (139,183) |  |  | 65,008 |
Sales of purchased natural gas | 10,199 |  |  | 85,512 |  |  | — |  |  | — |  |  | 95,711 |
Realized gain on derivatives | 4,045 |  |  | — |  |  | — |  |  | — |  |  | 4,045 |
Unrealized loss on derivatives | (9,754) |  |  | — |  |  | — |  |  | — |  |  | (9,754) |
Expenses(1) | 853,458 |  |  | 187,756 |  |  | 50,804 |  |  | (139,762) |  |  | 952,256 |
Operating income(2) | $ | 624,724 |  |  | $ | 108,653 |  |  | $ | (50,804) |  |  | $ | — |  |  | $ | 682,573 |
Total assets | $ | 7,102,714 |  |  | $ | 1,369,461 |  |  | $ | 46,216 |  |  | $ | — |  |  | $ | 8,518,391 |
Capital expenditures(3) | $ | 1,023,783 |  |  | $ | 137,937 |  |  | $ | 771 |  |  | $ | — |  |  | $ | 1,162,491 |
_____________________ (1)Includes depletion, depreciation and amortization expenses of $415.9 million and $21.7 million for the exploration and production and midstream segments, respectively. Also includes corporate depletion, depreciation and amortization expenses of $0.6 million. (2)Includes $38.2 million in net income attributable to non-controlling interest in subsidiaries related to the midstream segment. (3)Includes $358.6 million attributable to land and seismic acquisition expenditures related to the exploration and production segment and $13.4 million in capital expenditures attributable to non-controlling interest in subsidiaries related to the midstream segment.
| Exploration and Production |  |  |  |  |  | Consolidations and Eliminations |  | Consolidated Company
|  | Midstream |  | Corporate |  |
Six Months Ended June 30, 2023 |  |  |  |  |  |  |  |  |
Oil and natural gas revenues | $ | 1,088,080 |  |  | $ | 2,746 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,090,826 |
Midstream services revenues | — |  |  | 154,465 |  |  | — |  |  | (97,879) |  |  | 56,586 |
Sales of purchased natural gas | 11,374 |  |  | 54,778 |  |  | — |  |  | — |  |  | 66,152 |
Realized gain on derivatives | 521 |  |  | — |  |  | — |  |  | — |  |  | 521 |
Unrealized loss on derivatives | (15,726) |  |  | — |  |  | — |  |  | — |  |  | (15,726) |
Expenses(1) | 609,093 |  |  | 139,971 |  |  | 43,473 |  |  | (97,879) |  |  | 694,658 |
Operating income(2) | $ | 475,156 |  |  | $ | 72,018 |  |  | $ | (43,473) |  |  | $ | — |  |  | $ | 503,701 |
Total assets | $ | 5,998,037 |  |  | $ | 1,088,627 |  |  | $ | 45,674 |  |  | $ | — |  |  | $ | 7,132,338 |
Capital expenditures(3) | $ | 2,216,184 |  |  | $ | 95,409 |  |  | $ | 2,478 |  |  | $ | — |  |  | $ | 2,314,071 |
_____________________ (1)Includes depletion, depreciation and amortization expenses of $284.0 million and $19.2 million for the exploration and production and midstream segments, respectively. Also includes corporate depletion, depreciation and amortization expenses of $0.7 million. (2)Includes $28.2 million in net income attributable to non-controlling interest in subsidiaries related to the midstream segment. (3)Includes $1.61 billion attributable to land and seismic acquisition expenditures related to the exploration and production segment, $63.6 million attributable to midstream acquisition expenditures and $11.3 million in capital expenditures attributable to non-controlling interest in subsidiaries related to the midstream segment.

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration