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Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2024
Segment Reporting [Abstract] |
Industry Segment Results | Industry segment results for the three months ended June 30, 2024 are:
|  |  | Shale |  | Coalbed Methane |  | Other |  | Consolidated |  |  |  |  |  |  |  |  |
Natural Gas, NGLs and Oil Revenue |  |  | $ | 215,598 |  |  | $ | 20,485 |  |  | $ | 150 |  |  | $ | 236,233 |  |  |  |  |  |  |  |  |  | (A)
Purchased Gas Revenue |  |  | — |  |  | — |  |  | 11,029 |  |  | 11,029 |  |  |  |  |  |  |  |  |  |
Gain (Loss) on Commodity Derivative Instruments |  |  | 101,919 |  |  | 8,115 |  |  | (95,939) |  |  | 14,095 |  |  |  |  |  |  |  |  |  |
Other Revenue and Operating Income |  |  | 16,441 |  |  | — |  |  | 43,645 |  |  | 60,086 |  |  |  |  |  |  |  |  |  | (B)
Total Revenue and Other Operating Income (Loss) |  |  | $ | 333,958 |  |  | $ | 28,600 |  |  | $ | (41,115) |  |  | $ | 321,443 |  |  |  |  |  |  |  |  |  |
Total Operating Expense |  |  | $ | 191,115 |  |  | $ | 37,143 |  |  | $ | 71,286 |  |  | $ | 299,544 |  |  |  |  |  |  |  |  |  |
Earnings (Loss) Before Income Tax |  |  | $ | 142,843 |  |  | $ | (8,543) |  |  | $ | (149,543) |  |  | $ | (15,243) |  |  |  |  |  |  |  |  |  |
Segment Assets |  |  | $ | 6,676,756 |  |  | $ | 939,831 |  |  | $ | 986,367 |  |  | $ | 8,602,954 |  |  |  |  |  |  |  |  |  | (C)
Depreciation, Depletion and Amortization |  |  | $ | 97,909 |  |  | $ | 14,587 |  |  | $ | 5,045 |  |  | $ | 117,541 |  |  |  |  |  |  |  |  |  |
Capital Expenditures |  |  | $ | 138,917 |  |  | $ | 7,760 |  |  | $ | 5,239 |  |  | $ | 151,916 |  |  |  |  |  |  |  |  |  |
(A) Included in Natural Gas, NGLs and Oil Revenue are sales of $28,684 to Citadel Energy Marketing LLC, which comprises over 10% of revenue from contracts with external customers for the period. (B) Includes midstream revenue of $16,441 and equity in loss of unconsolidated affiliates of $227 for Shale and Other, respectively. Other also includes sales of environmental attributes of $32,877. (C) Other includes investments in unconsolidated equity affiliates of $15,394. Industry segment results for the three months ended June 30, 2023 are:
|  |  | Shale |  | Coalbed Methane |  | Other |  | Consolidated |  |  |  |  |  |  |  |  |
Natural Gas, NGLs and Oil Revenue |  |  | $ | 234,192 |  |  | $ | 22,634 |  |  | $ | 235 |  |  | $ | 257,061 |  |  |  |  |  |  |  |  |  | (D)
Purchased Gas Revenue |  |  | — |  |  | — |  |  | 9,355 |  |  | 9,355 |  |  |  |  |  |  |  |  |  |
Gain on Commodity Derivative Instruments |  |  | 73,522 |  |  | 6,002 |  |  | 462,948 |  |  | 542,472 |  |  |  |  |  |  |  |  |  |
Other Revenue and Operating Income |  |  | 17,027 |  |  | — |  |  | 13,785 |  |  | 30,812 |  |  |  |  |  |  |  |  |  | (E)
Total Revenue and Other Operating Income |  |  | $ | 324,741 |  |  | $ | 28,636 |  |  | $ | 486,323 |  |  | $ | 839,700 |  |  |  |  |  |  |  |  |  |
Total Operating Expense |  |  | $ | 171,501 |  |  | $ | 34,020 |  |  | $ | 66,113 |  |  | $ | 271,634 |  |  |  |  |  |  |  |  |  |
Earnings (Loss) Before Income Tax |  |  | $ | 153,240 |  |  | $ | (5,384) |  |  | $ | 488,866 |  |  | $ | 636,722 |  |  |  |  |  |  |  |  |  |
Segment Assets |  |  | $ | 6,589,145 |  |  | $ | 949,438 |  |  | $ | 993,272 |  |  | $ | 8,531,855 |  |  |  |  |  |  |  |  |  | (F)
Depreciation, Depletion and Amortization |  |  | $ | 86,816 |  |  | $ | 12,586 |  |  | $ | 4,280 |  |  | $ | 103,682 |  |  |  |  |  |  |  |  |  |
Capital Expenditures |  |  | $ | 186,285 |  |  | $ | 7,630 |  |  | $ | 2,070 |  |  | $ | 195,985 |  |  |  |  |  |  |  |  |  |
(D) Included in Natural Gas, NGLs and Oil Revenue are sales of $36,511 to Citadel Energy Marketing LLC, and $31,648 to Direct Energy Business Marketing LLC, each of which comprises over 10% of revenue from contracts with external customers for the period. (E) Includes midstream revenue of $17,027 and equity in earnings of unconsolidated affiliates of $1,334 for Shale and Other, respectively. Other also includes sales of environmental attributes of $7,986. (F) Other includes investments in unconsolidated equity affiliates of $13,162. Industry segment results for the six months ended June 30, 2024 are:
|  |  | Shale |  | Coalbed Methane |  | Other |  | Consolidated |  |  |  |  |  |  |  |  |
Natural Gas, NGLs and Oil Revenue |  |  | $ | 508,360 |  |  | $ | 53,348 |  |  | $ | 497 |  |  | $ | 562,205 |  |  |  |  |  |  |  |  |  | (G)
Purchased Gas Revenue |  |  | — |  |  | — |  |  | 25,306 |  |  | 25,306 |  |  |  |  |  |  |  |  |  |
Gain (Loss) on Commodity Derivative Instruments |  |  | 152,698 |  |  | 11,961 |  |  | (143,036) |  |  | 21,623 |  |  |  |  |  |  |  |  |  |
Other Revenue and Operating Income |  |  | 32,335 |  |  | — |  |  | 64,526 |  |  | 96,861 |  |  |  |  |  |  |  |  |  | (H)
Total Revenue and Other Operating Income (Loss) |  |  | $ | 693,393 |  |  | $ | 65,309 |  |  | $ | (52,707) |  |  | $ | 705,995 |  |  |  |  |  |  |  |  |  |
Total Operating Expense |  |  | $ | 389,221 |  |  | $ | 74,147 |  |  | $ | 155,025 |  |  | $ | 618,393 |  |  |  |  |  |  |  |  |  |
Earnings (Loss) Before Income Tax |  |  | $ | 304,172 |  |  | $ | (8,838) |  |  | $ | (304,258) |  |  | $ | (8,924) |  |  |  |  |  |  |  |  |  |
Segment Assets |  |  | $ | 6,676,756 |  |  | $ | 939,831 |  |  | $ | 986,367 |  |  | $ | 8,602,954 |  |  |  |  |  |  |  |  |  | (I)
Depreciation, Depletion and Amortization |  |  | $ | 197,385 |  |  | $ | 28,860 |  |  | $ | 9,946 |  |  | $ | 236,191 |  |  |  |  |  |  |  |  |  |
Capital Expenditures |  |  | $ | 291,791 |  |  | $ | 16,428 |  |  | $ | 11,881 |  |  | $ | 320,100 |  |  |  |  |  |  |  |  |  |
(G) Included in Natural Gas, NGLs and Oil Revenue are sales of $67,854 to NRG Business Marketing LLC (formerly Direct Energy Business Marketing LLC), which comprises over 10% of revenue from contracts with external customers for the period. (H) Includes midstream revenue of $32,335 and equity in loss of unconsolidated affiliates of $477 for Shale and Other, respectively. Other also includes sales of environmental attributes of $45,646. (I) Other includes investments in unconsolidated equity affiliates of $15,394. Industry segment results for the six months ended June 30, 2023 are:
|  |  | Shale |  | Coalbed Methane |  | Other |  | Consolidated |  |  |  |  |  |  |  |  |
Natural Gas, NGLs and Oil Revenue |  |  | $ | 641,390 |  |  | $ | 70,670 |  |  | $ | 640 |  |  | $ | 712,700 |  |  |  |  |  |  |  |  |  | (J)
Purchased Gas Revenue |  |  | — |  |  | — |  |  | 46,167 |  |  | 46,167 |  |  |  |  |  |  |  |  |  |
Gain on Commodity Derivative Instruments |  |  | 17,186 |  |  | 1,331 |  |  | 1,286,122 |  |  | 1,304,639 |  |  |  |  |  |  |  |  |  |
Other Revenue and Operating Income |  |  | 33,780 |  |  | — |  |  | 18,390 |  |  | 52,170 |  |  |  |  |  |  |  |  |  | (K)
Total Revenue and Other Operating Income |  |  | $ | 692,356 |  |  | $ | 72,001 |  |  | $ | 1,351,319 |  |  | $ | 2,115,676 |  |  |  |  |  |  |  |  |  |
Total Operating Expense |  |  | $ | 359,618 |  |  | $ | 70,440 |  |  | $ | 162,173 |  |  | $ | 592,231 |  |  |  |  |  |  |  |  |  |
Earnings Before Income Tax |  |  | $ | 332,738 |  |  | $ | 1,561 |  |  | $ | 1,230,379 |  |  | $ | 1,564,678 |  |  |  |  |  |  |  |  |  |
Segment Assets |  |  | $ | 6,589,145 |  |  | $ | 949,438 |  |  | $ | 993,272 |  |  | $ | 8,531,855 |  |  |  |  |  |  |  |  |  | (L)
Depreciation, Depletion and Amortization |  |  | $ | 174,927 |  |  | $ | 25,032 |  |  | $ | 8,945 |  |  | $ | 208,904 |  |  |  |  |  |  |  |  |  |
Capital Expenditures |  |  | $ | 345,634 |  |  | $ | 17,089 |  |  | $ | 3,290 |  |  | $ | 366,013 |  |  |  |  |  |  |  |  |  |
(J) Included in Natural Gas, NGLs and Oil Revenue are sales of $86,749 to Direct Energy Business Marketing LLC, and $81,429 to Citadel Energy Marketing LLC, each of which comprises over 10% of revenue from contracts with external customers for the period. (K) Includes midstream revenue of $33,780 and equity in earnings of unconsolidated affiliates of $1,448 for Shale and Other, respectively. Other also includes sales of environmental attributes of $7,986. (L) Other includes investments in unconsolidated equity affiliates of $13,162.
Reconciliation of Revenue and Other Operating (Loss) Income from Segments to Consolidated | Revenue and Other Operating Income
| For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
2024 |  | 2023 |  | 2024 |  | 2023
Total Segment Revenue from Contracts with External Customers | $ | 263,703 |  |  | $ | 283,443 |  |  | $ | 619,846 |  |  | $ | 792,647 |
Gain on Commodity Derivative Instruments | 14,095 |  |  | 542,472 |  |  | 21,623 |  |  | 1,304,639 |
Other Operating Income | 43,645 |  |  | 13,785 |  |  | 64,526 |  |  | 18,390 |
Total Consolidated Revenue and Other Operating Income | $ | 321,443 |  |  | $ | 839,700 |  |  | $ | 705,995 |  |  | $ | 2,115,676 |

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