XML 66 R42.htm IDEA: XBRL DOCUMENT
v3.19.3

Segment Information (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2019
Segment Reporting [Abstract] |
Industry Segment Results | Industry segment results for the three months ended September 30, 2019:
| Marcellus Shale |  | Utica Shale |  | Coalbed Methane |  | Other Gas |  | Total E&P |  | Midstream |  | Unallocated |  | Intercompany Eliminations |  | Consolidated |
Natural Gas, NGLs and Oil Revenue | $ | 179,142 |  |  | $ | 50,042 |  |  | $ | 35,621 |  |  | $ | 246 |  |  | $ | 265,051 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 265,051 |  | (A)
Purchased Gas Revenue | — |  |  | — |  |  | — |  |  | 29,192 |  |  | 29,192 |  |  | — |  |  | — |  |  | — |  |  | 29,192 |  |
Midstream Revenue | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 74,261 |  |  | — |  |  | (55,736 | ) |  | 18,525 |  |
Gain on Commodity Derivative Instruments | 38,354 |  |  | 12,628 |  |  | 6,036 |  |  | 156,895 |  |  | 213,913 |  |  | — |  |  | — |  |  | — |  |  | 213,913 |  |
Other Operating Income | — |  |  | — |  |  | — |  |  | 3,375 |  |  | 3,375 |  |  | — |  |  | — |  |  | (59 | ) |  | 3,316 |  | (B)
Total Revenue and Other Operating Income | $ | 217,496 |  |  | $ | 62,670 |  |  | $ | 41,657 |  |  | $ | 189,708 |  |  | $ | 511,531 |  |  | $ | 74,261 |  |  | $ | — |  |  | $ | (55,795 | ) |  | $ | 529,997 |  |
Earnings Before Income Tax | $ | 41,014 |  |  | $ | 18,220 |  |  | $ | 8,717 |  |  | $ | 83,279 |  |  | $ | 151,230 |  |  | $ | 41,741 |  |  | $ | (109 | ) |  | $ | — |  |  | $ | 192,862 |  |
Segment Assets |  |  |  |  |  |  |  |  | $ | 7,087,782 |  |  | $ | 2,178,073 |  |  | $ | 16,668 |  |  | $ | 3,735 |  |  | $ | 9,286,258 |  | (C)
Depreciation, Depletion and Amortization |  |  |  |  |  |  |  |  | $ | 111,839 |  |  | $ | 8,620 |  |  | $ | — |  |  | $ | — |  |  | $ | 120,459 |  |
Capital Expenditures |  |  |  |  |  |  |  |  | $ | 267,689 |  |  | $ | 68,448 |  |  | $ | — |  |  | $ | — |  |  | $ | 336,137 |  |
(A) | Included in Total Natural Gas, NGLs and Oil Revenue are sales of $39,092 to Direct Energy Business Marketing LLC, which comprises over 10% of revenue from contracts with external customers for the period.
(B) | Includes equity in earnings of unconsolidated affiliates of $673 for Total E&P.
(C) | Includes investments in unconsolidated equity affiliates of $17,110 for Total E&P.
Industry segment results for the three months ended September 30, 2018:
| Marcellus Shale |  | Utica Shale |  | Coalbed Methane |  | Other Gas |  | Total E&P |  | Midstream |  | Unallocated |  | Intercompany Eliminations |  | Consolidated |
Natural Gas, NGLs and Oil Revenue | $ | 207,407 |  |  | $ | 88,039 |  |  | $ | 48,471 |  |  | $ | 795 |  |  | $ | 344,712 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 344,712 |  | (D)
Purchased Gas Revenue | — |  |  | — |  |  | — |  |  | 10,560 |  |  | 10,560 |  |  | — |  |  | — |  |  | — |  |  | 10,560 |  |
Midstream Revenue | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 61,372 |  |  | — |  |  | (41,426 | ) |  | 19,946 |  |
Gain (Loss) on Commodity Derivative Instruments | 1,796 |  |  | (151 | ) |  | 605 |  |  | 15,755 |  |  | 18,005 |  |  | — |  |  | — |  |  | — |  |  | 18,005 |  |
Other Operating Income | — |  |  | — |  |  | — |  |  | 3,969 |  |  | 3,969 |  |  | — |  |  | — |  |  | (66 | ) |  | 3,903 |  | (E)
Total Revenue and Other Operating Income | $ | 209,203 |  |  | $ | 87,888 |  |  | $ | 49,076 |  |  | $ | 31,079 |  |  | $ | 377,246 |  |  | $ | 61,372 |  |  | $ | — |  |  | $ | (41,492 | ) |  | $ | 397,126 |  |
Earnings (Loss) Before Income Tax | $ | 64,408 |  |  | $ | 41,237 |  |  | $ | 9,642 |  |  | $ | (60,856 | ) |  | $ | 54,431 |  |  | $ | 31,173 |  |  | $ | 117,830 |  |  | $ | — |  |  | $ | 203,434 |  |
Segment Assets |  |  |  |  |  |  |  |  | $ | 6,256,132 |  |  | $ | 1,883,134 |  |  | $ | 82,696 |  |  | $ | (12,926 | ) |  | $ | 8,209,036 |  | (F)
Depreciation, Depletion and Amortization |  |  |  |  |  |  |  |  | $ | 111,844 |  |  | $ | 7,741 |  |  | $ | — |  |  | $ | — |  |  | $ | 119,585 |  |
Capital Expenditures |  |  |  |  |  |  |  |  | $ | 253,263 |  |  | $ | 44,202 |  |  | $ | — |  |  | $ | — |  |  | $ | 297,465 |  |
(D) | Included in Total Natural Gas, NGLs and Oil Revenue are sales of $42,901 to NJR Energy Services Company, which comprises over 10% of revenue from contracts with external customers for the period.
(E) | Includes equity in earnings of unconsolidated affiliates of $1,241 for Total E&P.
(F) | Includes investments in unconsolidated equity affiliates of $19,488 for Total E&P.
Industry segment results for the nine months ended September 30, 2019:
| Marcellus Shale |  | Utica Shale |  | Coalbed Methane |  | Other Gas |  | Total E&P |  | Midstream |  | Unallocated |  | Intercompany Eliminations |  | Consolidated |
Natural Gas, NGLs and Oil Revenue | $ | 709,656 |  |  | $ | 208,206 |  |  | $ | 125,094 |  |  | $ | 906 |  |  | $ | 1,043,862 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,043,862 |  | (A)
Purchased Gas Revenue | — |  |  | — |  |  | — |  |  | 64,181 |  |  | 64,181 |  |  | — |  |  | — |  |  | — |  |  | 64,181 |  |
Midstream Revenue | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 225,280 |  |  | — |  |  | (169,417 | ) |  | 55,863 |  |
Gain on Commodity Derivative Instruments | 17,727 |  |  | 5,774 |  |  | 2,819 |  |  | 213,798 |  |  | 240,118 |  |  | — |  |  | — |  |  | — |  |  | 240,118 |  |
Other Operating Income | — |  |  | — |  |  | — |  |  | 9,671 |  |  | 9,671 |  |  | — |  |  | — |  |  | (235 | ) |  | 9,436 |  | (B)
Total Revenue and Other Operating Income | $ | 727,383 |  |  | $ | 213,980 |  |  | $ | 127,913 |  |  | $ | 288,556 |  |  | $ | 1,357,832 |  |  | $ | 225,280 |  |  | $ | — |  |  | $ | (169,652 | ) |  | $ | 1,413,460 |  |
Earnings (Loss) Before Income Tax | $ | 178,326 |  |  | $ | 68,165 |  |  | $ | 29,219 |  |  | $ | (42,650 | ) |  | $ | 233,060 |  |  | $ | 118,739 |  |  | $ | (1,662 | ) |  | $ | — |  |  | $ | 350,137 |  |
Segment Assets |  |  |  |  |  |  |  |  | $ | 7,087,782 |  |  | $ | 2,178,073 |  |  | $ | 16,668 |  |  | $ | 3,735 |  |  | $ | 9,286,258 |  | (C)
Depreciation, Depletion and Amortization |  |  |  |  |  |  |  |  | $ | 349,620 |  |  | $ | 24,999 |  |  | $ | — |  |  | $ | — |  |  | $ | 374,619 |  |
Capital Expenditures |  |  |  |  |  |  |  |  | $ | 716,164 |  |  | $ | 248,338 |  |  | $ | — |  |  | $ | — |  |  | $ | 964,502 |  |
(A) | Included in Total Natural Gas, NGLs and Oil Revenue are sales of $155,337 to Direct Energy Business Marketing LLC and $114,440 to NJR Energy Services Company, each of which comprise over 10% of revenue from contracts with external customers for the period.
(B) | Includes equity in earnings of unconsolidated affiliates of $1,703 for Total E&P.
(C) | Includes investments in unconsolidated equity affiliates of $17,110 for Total E&P.
Industry segment results for the nine months ended September 30, 2018:
| Marcellus Shale |  | Utica Shale |  | Coalbed Methane |  | Other Gas |  | Total E&P |  | Midstream |  | Unallocated |  | Intercompany Eliminations |  | Consolidated |
Natural Gas, NGLs and Oil Revenue | $ | 590,728 |  |  | $ | 326,119 |  |  | $ | 152,854 |  |  | $ | 15,150 |  |  | $ | 1,084,851 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,084,851 |  | (D)
Purchased Gas Revenue | — |  |  | — |  |  | — |  |  | 38,546 |  |  | 38,546 |  |  | — |  |  | — |  |  | — |  |  | 38,546 |  |
Midstream Revenue | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 186,875 |  |  | — |  |  | (117,191 | ) |  | 69,684 |  |
Gain on Commodity Derivative Instruments | 1,411 |  |  | 746 |  |  | 330 |  |  | 76,265 |  |  | 78,752 |  |  | — |  |  | — |  |  | — |  |  | 78,752 |  |
Other Operating Income | — |  |  | — |  |  | — |  |  | 23,355 |  |  | 23,355 |  |  | — |  |  | — |  |  | (209 | ) |  | 23,146 |  | (E)
Total Revenue and Other Operating Income | $ | 592,139 |  |  | $ | 326,865 |  |  | $ | 153,184 |  |  | $ | 153,316 |  |  | $ | 1,225,504 |  |  | $ | 186,875 |  |  | $ | — |  |  | $ | (117,400 | ) |  | $ | 1,294,979 |  |
Earnings (Loss) Before Income Tax | $ | 155,923 |  |  | $ | 143,830 |  |  | $ | 35,164 |  |  | $ | (138,551 | ) |  | $ | 196,366 |  |  | $ | 94,502 |  |  | $ | 702,097 |  |  | $ | — |  |  | $ | 992,965 |  |
Segment Assets |  |  |  |  |  |  |  |  | $ | 6,256,132 |  |  | $ | 1,883,134 |  |  | $ | 82,696 |  |  | $ | (12,926 | ) |  | $ | 8,209,036 |  | (F)
Depreciation, Depletion and Amortization |  |  |  |  |  |  |  |  | $ | 338,834 |  |  | $ | 24,504 |  |  | $ | — |  |  | $ | — |  |  | $ | 363,338 |  |
Capital Expenditures |  |  |  |  |  |  |  |  | $ | 708,660 |  |  | $ | 85,464 |  |  | $ | — |  |  | $ | — |  |  | $ | 794,124 |  |
(D) | Included in Total Natural Gas, NGLs and Oil Revenue are sales of $158,746 to NJR Energy Services Company, which comprises over 10% of revenue from contracts with external customers for the period.
(E) | Includes equity in earnings of unconsolidated affiliates of $4,688 for Total E&P.
(F) Includes investments in unconsolidated equity affiliates of $19,488 for Total E&P.
Reconciliation of Revenue from Segments to Consolidated | Revenue and Other Operating Income
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
2019 |  | 2018 |  | 2019 |  | 2018
Total Segment Revenue from Contracts with External Customers | $ | 312,768 |  |  | $ | 375,218 |  |  | $ | 1,163,906 |  |  | $ | 1,193,081 |
Gain on Commodity Derivative Instruments | 213,913 |  |  | 18,005 |  |  | 240,118 |  |  | 78,752 |
Other Operating Income | 3,316 |  |  | 3,903 |  |  | 9,436 |  |  | 23,146 |
Total Consolidated Revenue and Other Operating Income | $ | 529,997 |  |  | $ | 397,126 |  |  | $ | 1,413,460 |  |  | $ | 1,294,979 |
Reconciliation of Revenue and Operating Income from Segments to Consolidated | Earnings Before Income Tax:
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
Segment Income Before Income Taxes for Reportable Business Segments: |  |  |  |  |  |  |
Total E&P | $ | 151,230 |  |  | $ | 54,431 |  |  | $ | 233,060 |  |  | $ | 196,366 |
Midstream | 41,741 |  |  | 31,173 |  |  | 118,739 |  |  | 94,502 |
Total Segment Income Before Income Taxes for Reportable Business Segments | $ | 192,971 |  |  | $ | 85,604 |  |  | $ | 351,799 |  |  | $ | 290,868 |
Unallocated Expenses: |  |  |  |  |  |  |
Other (Expense) Income | (3,109 | ) |  | (1,105 | ) |  | (1,578 | ) |  | 4,811 |
Gain on Certain Asset Sales | 3,000 |  |  | 134,320 |  |  | 7,530 |  |  | 146,706 |
Gain on Previously Held Equity Interest | — |  |  | — |  |  | — |  |  | 623,663 |
Loss on Debt Extinguishment | — |  |  | (15,385 | ) |  | (7,614 | ) |  | (54,433 | )
Impairment of Other Intangible Assets | — |  |  | — |  |  | — |  |  | (18,650 | )
Earnings Before Income Tax | $ | 192,862 |  |  | $ | 203,434 |  |  | $ | 350,137 |  |  | $ | 992,965 |
Reconciliation of Assets and Liabilities from Segment to Consolidated | Total Assets:
| September 30,
2019 |  | 2018
Segment Assets for Total Reportable Business Segments: |  |  |
E&P | $ | 7,087,782 |  |  | $ | 6,256,132 |
Midstream | 2,178,073 |  |  | 1,883,134 |
Intercompany Eliminations | 3,735 |  |  | (12,926 | )
Items Excluded from Segment Assets: |  |  |
Cash and Cash Equivalents | 5,484 |  |  | 42,672 |
Recoverable Income Taxes | 11,184 |  |  | 40,024 |
Total Consolidated Assets | $ | 9,286,258 |  |  | $ | 8,209,036 |

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8924-108599 + Details
Name: | us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 + Details
Name: | us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 + Details
Name: | us-gaap_ReconciliationOfRevenueFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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 -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8721-108599 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum: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