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