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Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2019
Segment Reporting [Abstract] |
Industry Segment Results | Industry segment results for the three months ended June 30, 2019:
| Marcellus Shale |  | Utica Shale |  | Coalbed Methane |  | Other Gas |  | Total E&P |  | Midstream |  | Unallocated |  | Intercompany Eliminations |  | Consolidated |
Natural Gas, NGLs and Oil Revenue | $ | 237,257 |  |  | $ | 65,213 |  |  | $ | 39,638 |  |  | $ | 757 |  |  | $ | 342,865 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 342,865 |  | (A)
Purchased Gas Revenue | — |  |  | — |  |  | — |  |  | 18,768 |  |  | 18,768 |  |  | — |  |  | — |  |  | — |  |  | 18,768 |  |
Midstream Revenue | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 78,450 |  |  | — |  |  | (59,555 | ) |  | 18,895 |  |
Gain on Commodity Derivative Instruments | 6,831 |  |  | 2,747 |  |  | 1,085 |  |  | 210,918 |  |  | 221,581 |  |  | — |  |  | — |  |  | — |  |  | 221,581 |  |
Other Operating Income | — |  |  | — |  |  | — |  |  | 3,038 |  |  | 3,038 |  |  | — |  |  | — |  |  | (115 | ) |  | 2,923 |  | (B)
Total Revenue and Other Operating Income | $ | 244,088 |  |  | $ | 67,960 |  |  | $ | 40,723 |  |  | $ | 233,481 |  |  | $ | 586,252 |  |  | $ | 78,450 |  |  | $ | — |  |  | $ | (59,670 | ) |  | $ | 605,032 |  |
Earnings Before Income Tax | $ | 50,381 |  |  | $ | 17,941 |  |  | $ | 7,603 |  |  | $ | 112,335 |  |  | $ | 188,260 |  |  | $ | 44,414 |  |  | $ | 811 |  |  | $ | — |  |  | $ | 233,485 |  |
Segment Assets |  |  |  |  |  |  |  |  | $ | 6,887,043 |  |  | $ | 2,116,492 |  |  | $ | 146,203 |  |  | $ | (3,041 | ) |  | $ | 9,146,697 |  | (C)
Depreciation, Depletion and Amortization |  |  |  |  |  |  |  |  | $ | 120,705 |  |  | $ | 8,294 |  |  | $ | — |  |  |  |  |  | $ | 128,999 |  |
Capital Expenditures |  |  |  |  |  |  |  |  | $ | 224,684 |  |  | $ | 104,543 |  |  | $ | — |  |  | $ | — |  |  | $ | 329,227 |  |
(A) | Included in Total Natural Gas, NGLs and Oil Revenue are sales of $48,476 to Direct Energy Business Marketing LLC, which comprises over 10% of revenue from contracts with customers for the period.
(B) | Includes equity in earnings of unconsolidated affiliates of $527 for Total E&P.
(C) | Includes investments in unconsolidated equity affiliates of $17,637 for Total E&P.
Industry segment results for the three months ended June 30, 2018:
| Marcellus Shale |  | Utica Shale |  | Coalbed Methane |  | Other Gas |  | Total E&P |  | Midstream |  | Unallocated |  | Intercompany Eliminations |  | Consolidated |
Natural Gas, NGLs and Oil Revenue | $ | 178,305 |  |  | $ | 107,758 |  |  | $ | 46,882 |  |  | $ | 1,572 |  |  | $ | 334,517 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 334,517 |  | (D)
Purchased Gas Revenue | — |  |  | — |  |  | — |  |  | 9,930 |  |  | 9,930 |  |  | — |  |  | — |  |  | — |  |  | 9,930 |  |
Midstream Revenue | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 61,325 |  |  | — |  |  | (37,842 | ) |  | 23,483 |  |
Gain on Commodity Derivative Instruments | 9,128 |  |  | 5,371 |  |  | 2,155 |  |  | 9,006 |  |  | 25,660 |  |  | — |  |  | — |  |  | — |  |  | 25,660 |  |
Other Operating Income | — |  |  | — |  |  | — |  |  | 8,595 |  |  | 8,595 |  |  | — |  |  | — |  |  | (61 | ) |  | 8,534 |  | (E)
Total Revenue and Other Operating Income | $ | 187,433 |  |  | $ | 113,129 |  |  | $ | 49,037 |  |  | $ | 29,103 |  |  | $ | 378,702 |  |  | $ | 61,325 |  |  | $ | — |  |  | $ | (37,903 | ) |  | $ | 402,124 |  |
Earnings (Loss) Before Income Tax | $ | 47,273 |  |  | $ | 46,486 |  |  | $ | 12,405 |  |  | $ | (64,039 | ) |  | $ | 42,125 |  |  | $ | 27,795 |  |  | $ | (39,628 | ) |  | $ | — |  |  | $ | 30,292 |  |
Segment Assets |  |  |  |  |  |  |  |  | $ | 6,055,545 |  |  | $ | 1,830,007 |  |  | $ | 333,372 |  |  | $ | (11,166 | ) |  | $ | 8,207,758 |  | (F)
Depreciation, Depletion and Amortization |  |  |  |  |  |  |  |  | $ | 111,125 |  |  | $ | 7,962 |  |  | $ | — |  |  | $ | — |  |  | $ | 119,087 |  |
Capital Expenditures |  |  |  |  |  |  |  |  | $ | 238,889 |  |  | $ | 25,285 |  |  | $ | — |  |  | $ | — |  |  | $ | 264,174 |  |
(D) | Included in Total Natural Gas, NGLs and Oil Revenue are sales of $36,849 to NJR Energy Services Company and $34,644 to Direct Energy Business Marketing LLC, each of which comprises over 10% of revenue from contracts with customers for the period.
(E) | Includes equity in earnings of unconsolidated affiliates of $1,669 for Total E&P.
(F) | Includes investments in unconsolidated equity affiliates of $22,347 for Total E&P.
Industry segment results for the six months ended June 30, 2019:
| Marcellus Shale |  | Utica Shale |  | Coalbed Methane |  | Other Gas |  | Total E&P |  | Midstream |  | Unallocated |  | Intercompany Eliminations |  | Consolidated |
Natural Gas, NGLs and Oil Revenue | $ | 530,514 |  |  | $ | 158,164 |  |  | $ | 89,473 |  |  | $ | 660 |  |  | $ | 778,811 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 778,811 |  | (A)
Purchased Gas Revenue | — |  |  | — |  |  | — |  |  | 34,989 |  |  | 34,989 |  |  | — |  |  | — |  |  | — |  |  | 34,989 |  |
Midstream Revenue | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 151,019 |  |  | — |  |  | (113,681 | ) |  | 37,338 |  |
(Loss) Gain on Commodity Derivative Instruments | (20,627 | ) |  | (6,854 | ) |  | (3,217 | ) |  | 56,903 |  |  | 26,205 |  |  | — |  |  | — |  |  | — |  |  | 26,205 |  |
Other Operating Income | — |  |  | — |  |  | — |  |  | 6,296 |  |  | 6,296 |  |  | — |  |  | — |  |  | (176 | ) |  | 6,120 |  | (B)
Total Revenue and Other Operating Income | $ | 509,887 |  |  | $ | 151,310 |  |  | $ | 86,256 |  |  | $ | 98,848 |  |  | $ | 846,301 |  |  | $ | 151,019 |  |  | $ | — |  |  | $ | (113,857 | ) |  | $ | 883,463 |  |
Earnings (Loss) Before Income Tax | $ | 137,312 |  |  | $ | 49,945 |  |  | $ | 20,502 |  |  | $ | (125,929 | ) |  | $ | 81,830 |  |  | $ | 76,998 |  |  | $ | (1,553 | ) |  | $ | — |  |  | $ | 157,275 |  |
Segment Assets |  |  |  |  |  |  |  |  | $ | 6,887,043 |  |  | $ | 2,116,492 |  |  | $ | 146,203 |  |  | $ | (3,041 | ) |  | $ | 9,146,697 |  | (C)
Depreciation, Depletion and Amortization |  |  |  |  |  |  |  |  | $ | 237,780 |  |  | $ | 16,379 |  |  | $ | — |  |  | $ | — |  |  | $ | 254,159 |  |
Capital Expenditures |  |  |  |  |  |  |  |  | $ | 448,475 |  |  | $ | 179,890 |  |  | $ | — |  |  | $ | — |  |  | $ | 628,365 |  |
(A) | Included in Total Natural Gas, NGLs and Oil Revenue are sales of $116,245 to Direct Energy Business Marketing LLC and $94,447 to NJR Energy Services Company, each of which comprise over 10% of revenue from contracts with customers for the period.
(B) | Includes equity in earnings of unconsolidated affiliates of $1,030 for Total E&P.
(C) | Includes investments in unconsolidated equity affiliates of $17,637 for Total E&P.
Industry segment results for the six months ended June 30, 2018:
| Marcellus Shale |  | Utica Shale |  | Coalbed Methane |  | Other Gas |  | Total E&P |  | Midstream |  | Unallocated |  | Intercompany Eliminations |  | Consolidated |
Natural Gas, NGLs and Oil Revenue | $ | 383,321 |  |  | $ | 238,080 |  |  | $ | 104,383 |  |  | $ | 14,356 |  |  | $ | 740,140 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 740,140 |  | (D)
Purchased Gas Revenue | — |  |  | — |  |  | — |  |  | 27,985 |  |  | 27,985 |  |  | — |  |  | — |  |  | — |  |  | 27,985 |  |
Midstream Revenue | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 125,503 |  |  | — |  |  | (75,766 | ) |  | 49,737 |  |
(Loss) Gain on Commodity Derivative Instruments | (385 | ) |  | 897 |  |  | (275 | ) |  | 60,510 |  |  | 60,747 |  |  | — |  |  | — |  |  | — |  |  | 60,747 |  |
Other Operating Income | — |  |  | — |  |  | — |  |  | 19,386 |  |  | 19,386 |  |  | — |  |  | — |  |  | (142 | ) |  | 19,244 |  | (E)
Total Revenue and Other Operating Income | $ | 382,936 |  |  | $ | 238,977 |  |  | $ | 104,108 |  |  | $ | 122,237 |  |  | $ | 848,258 |  |  | $ | 125,503 |  |  | $ | — |  |  | $ | (75,908 | ) |  | $ | 897,853 |  |
Earnings (Loss) Before Income Tax | $ | 91,515 |  |  | $ | 102,593 |  |  | $ | 25,522 |  |  | $ | (77,695 | ) |  | $ | 141,935 |  |  | $ | 63,329 |  |  | $ | 584,268 |  |  | $ | — |  |  | $ | 789,532 |  |
Segment Assets |  |  |  |  |  |  |  |  | $ | 6,055,545 |  |  | $ | 1,830,007 |  |  | $ | 333,372 |  |  | $ | (11,166 | ) |  | $ | 8,207,758 |  | (F)
Depreciation, Depletion and Amortization |  |  |  |  |  |  |  |  | $ | 226,991 |  |  | $ | 16,763 |  |  | $ | — |  |  | $ | — |  |  | $ | 243,754 |  |
Capital Expenditures |  |  |  |  |  |  |  |  | $ | 455,397 |  |  | $ | 41,262 |  |  | $ | — |  |  | $ | — |  |  | $ | 496,659 |  |
(D) | Included in Total Natural Gas, NGLs and Oil Revenue are sales of $115,845 to NJR Energy Services Company and $92,571 to Direct Energy Business Marketing LLC, each of which comprises over 10% of revenue from contracts with customers for the period.
(E) | Includes equity in earnings of unconsolidated affiliates of $3,447 for Total E&P.
(F) Includes investments in unconsolidated equity affiliates of $22,347 for Total E&P.
Reconciliation of Revenue from Segments to Consolidated | Revenue and Other Operating Income
| For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
2019 |  | 2018 |  | 2019 |  | 2018
Total Segment Revenue from Contracts with External Customers | $ | 380,528 |  |  | $ | 367,930 |  |  | $ | 851,138 |  |  | $ | 817,862 |
Gain on Commodity Derivative Instruments | 221,581 |  |  | 25,660 |  |  | 26,205 |  |  | 60,747 |
Other Operating Income | 2,923 |  |  | 8,534 |  |  | 6,120 |  |  | 19,244 |
Total Consolidated Revenue and Other Operating Income | $ | 605,032 |  |  | $ | 402,124 |  |  | $ | 883,463 |  |  | $ | 897,853 |
Reconciliation of Revenue and Operating Income from Segments to Consolidated | Earnings Before Income Tax:
| For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
Segment Income Before Income Taxes for Reportable Business Segments: |  |  |  |  |  |  |
Total E&P | $ | 188,260 |  |  | $ | 42,125 |  |  | $ | 81,830 |  |  | $ | 141,935 |
Midstream | 44,414 |  |  | 27,795 |  |  | 76,998 |  |  | 63,329 |
Total Segment Income Before Income Taxes for Reportable Business Segments | $ | 232,674 |  |  | $ | 69,920 |  |  | $ | 158,828 |  |  | $ | 205,264 |
Unallocated Expenses: |  |  |  |  |  |  |
Other Income (Expense) | 501 |  |  | (575 | ) |  | 1,531 |  |  | 5,917 |
Gain on Certain Asset Sales | 387 |  |  | 3,010 |  |  | 4,530 |  |  | 12,386 |
Gain on Previously Held Equity Interest | — |  |  | — |  |  | — |  |  | 623,663 |
Loss on Debt Extinguishment | (77 | ) |  | (23,413 | ) |  | (7,614 | ) |  | (39,048 | )
Impairment of Other Intangible Assets | — |  |  | (18,650 | ) |  | — |  |  | (18,650 | )
Earnings Before Income Tax | $ | 233,485 |  |  | $ | 30,292 |  |  | $ | 157,275 |  |  | $ | 789,532 |
Reconciliation of Assets and Liabilities from Segment to Consolidated | Total Assets:
| June 30,
2019 |  | 2018
Segment Assets for Total Reportable Business Segments: |  |  |
E&P | $ | 6,887,043 |  |  | $ | 6,055,545 |
Midstream | 2,116,492 |  |  | 1,830,007 |
Intercompany Eliminations | (3,041 | ) |  | (11,166 | )
Items Excluded from Segment Assets: |  |  |
Cash and Cash Equivalents | 32,611 |  |  | 54,846 |
Recoverable Income Taxes | 113,592 |  |  | 27,780 |
Assets Held for Sale | — |  |  | 250,746 |
Total Consolidated Assets | $ | 9,146,697 |  |  | $ | 8,207,758 |

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