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SEGMENT INFORMATION (Tables)
9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Schedule of Industry Segment Results
Reportable segment results for the three months ended September 30, 2025 are:
For the Three Months Ended September 30, 2025
ShaleCoalbed MethaneOtherConsolidated
Natural Gas, NGLs and Oil Revenue$367,315 $32,745 $930 $400,990 (A)
Gain on Commodity Derivative Instruments 21,014 1,358 109,323 131,695 
Purchased Gas Revenue— — 9,026 9,026 
Other Revenue and Operating Income17,415 — 24,714 42,129 (B)
Total Revenue and Other Operating Income$405,744 $34,103 $143,993 $583,840   
Lease Operating Expense20,972 6,298 (143)27,127 
Transportation, Gathering and Compression80,481 16,195 377 97,053 
Production, Ad Valorem, and Other Fees6,180 1,477 68 7,725 
Depreciation, Depletion and Amortization127,334 15,096 6,893 149,323 
Interest Expense— — 42,964 42,964 
Other Segment Items— — (6,044)(6,044)
Total Costs and Expenses$234,967 $39,066 $44,115 $318,148 
Income (Loss) Before Income Tax$170,777 $(4,963)$99,878 $265,692 
(A) Included in Natural Gas, NGLs and Oil Revenue are sales of $49,542 to DTE Energy Trading, Inc., $47,915 to NRG Business Marketing LLC, and $43,010 to Citadel Energy Marketing LLC, each of which comprises over 10% of revenue from contracts with external customers for the period.
(B) Includes midstream revenue of $17,415 and equity in loss of unconsolidated affiliates of $1,297 for Shale and Other, respectively. Other also includes sales of environmental attributes of $17,949.
For the Three Months Ended September 30, 2025
Other Segment DisclosuresShaleCoalbed MethaneOtherConsolidated
Segment Assets$7,152,404 $915,031 $836,683 $8,904,118 (C)
Capital Expenditures$67,428 $6,258 $1,858 $75,544 
(C) Includes investments in unconsolidated equity affiliates of $17,881.

Reportable segment results for the three months ended September 30, 2024 are:
For the Three Months Ended September 30, 2024
ShaleCoalbed MethaneOtherConsolidated
Natural Gas, NGLs and Oil Revenue$237,403 $21,854 $202 $259,459 (D)
Gain (Loss) on Commodity Derivative Instruments87,502 7,121 (5,659)88,964 
Purchased Gas Revenue— — 27,306 27,306   
Other Revenue and Operating Income18,040 — 30,444 48,484 (E)
Total Revenue and Other Operating Income $342,945 $28,975 $52,293 $424,213   
Lease Operating Expense11,755 5,456 42 17,253 
Transportation, Gathering and Compression79,599 16,343 332 96,274 
Production, Ad Valorem, and Other Fees5,355 1,278 13 6,646 
Depreciation, Depletion and Amortization101,135 15,024 5,068 121,227 
Interest Expense— 37,923 37,923 
Other Segment Items— — 62,329 62,329 
Total Costs and Expenses$197,844 $38,101 $105,707 $341,652 
Income (Loss) Before Income Tax$145,101 $(9,126)$(53,414)$82,561 
(D) Included in Natural Gas, NGLs and Oil Revenue are sales of $30,665 to Citadel Energy Marketing LLC, which comprises over 10% of revenue from contracts with external customers for the period.
(E) Includes midstream revenue of $18,040 and equity in loss of unconsolidated affiliates of $529 for Shale and Other, respectively. Other also includes sales of environmental attributes of $24,898.
For the Three Months Ended September 30, 2024
Other Segment DisclosuresShaleCoalbed MethaneOtherConsolidated
Segment Assets$6,663,892 $932,410 $941,747 $8,538,049 (F)
Capital Expenditures$105,133 $7,389 $2,215 $114,737 
(F) Includes investments in unconsolidated equity affiliates of $18,369.

Reportable segment results for the nine months ended September 30, 2025 are:
For the Nine Months Ended September 30, 2025
ShaleCoalbed MethaneOtherConsolidated
Natural Gas, NGLs and Oil Revenue$1,326,488 $109,203 $1,422 $1,437,113 (G)
(Loss) Gain on Commodity Derivative Instruments (114,942)(7,728)147,266 24,596 
Purchased Gas Revenue— — 30,985 30,985 
Other Revenue and Operating Income51,685 — 84,271 135,956 (H)
Total Revenue and Other Operating Income $1,263,231 $101,475 $263,944 $1,628,650   
Lease Operating Expense58,405 18,283 27 76,715 
Transportation, Gathering and Compression238,580 49,305 1,280 289,165 
Production, Ad Valorem, and Other Fees19,889 4,695 82 24,666 
Depreciation, Depletion and Amortization364,962 43,714 20,303 428,979 
Interest Expense— — 128,616 128,616 
Other Segment Items— — 101,974 101,974 
Total Costs and Expenses$681,836 $115,997 $252,282 $1,050,115 
Income (Loss) Before Income Tax$581,395 $(14,522)$11,662 $578,535 
(G) Included in Natural Gas, NGLs and Oil Revenue are sales of $167,758 to Citadel Energy Marketing LLC, $154,654 to DTE Energy Trading, Inc., and $151,213 to NGR Business Marketing LLC, each of which comprises over 10% of revenue from contracts with external customers for the period.
(H) Includes midstream revenue of $51,685 and equity in loss of unconsolidated affiliates of $749 for Shale and Other, respectively. Other also includes sales of environmental attributes of $61,234.
For the Nine Months Ended September 30, 2025
Other Segment DisclosuresShaleCoalbed MethaneOtherConsolidated
Segment Assets$7,152,404 $915,031 $836,683 $8,904,118 (I)
Capital Expenditures$280,663 $35,506 $4,405 $320,574 
(I) Includes investments in unconsolidated equity affiliates of $17,881.

Reportable segment results for the nine months ended September 30, 2024 are:
For the Nine Months Ended September 30, 2024
ShaleCoalbed MethaneOtherConsolidated
Natural Gas, NGLs and Oil Revenue$745,763 $75,202 $699 $821,664 (J)
Gain (Loss) on Commodity Derivative Instruments240,200 19,082 (148,695)110,587 
Purchased Gas Revenue— — 52,612 52,612   
Other Revenue and Operating Income50,375 — 94,970 145,345 (K)
Total Revenue and Other Operating Income (Loss)$1,036,338 $94,284 $(414)$1,130,208   
Lease Operating Expense36,233 16,194 371 52,798 
Transportation, Gathering and Compression235,611 48,004 1,018 284,633 
Production, Ad Valorem, and Other Fees16,700 4,165 44 20,909 
Depreciation, Depletion and Amortization298,521 43,885 15,012 357,418 
Interest Expense— — 113,997 113,997 
Other Segment Items— — 226,816 226,816 
Total Costs and Expenses$587,065 $112,248 $357,258 $1,056,571 
Income (Loss) Before Income Tax$449,273 $(17,964)$(357,672)$73,637 
(J) Included in Natural Gas, NGLs and Oil Revenue are sales of $95,194 to NRG Business Marketing LLC, which comprises over 10% of revenue from contracts with external customers for the period.
(K) Includes midstream revenue of $50,375 and equity in loss of unconsolidated affiliates of $1,006 for Shale and Other, respectively. Other also includes sales of environmental attributes of $70,544.
For the Nine Months Ended September 30, 2024
Other Segment DisclosuresShaleCoalbed MethaneOtherConsolidated
Segment Assets$6,663,892 $932,410 $941,747 $8,538,049 (L)
Capital Expenditures$396,924 $23,817 $14,096 $434,837 
(L) Includes investments in unconsolidated equity affiliates of $18,369.
Schedule of Reconciliation of Revenue and Other Operating (Loss) Income from Segments to Consolidated
Revenue and Other Operating Income:
For the Three Months Ended September 30,For the Nine Months Ended September 30,
2025202420252024
Total Segment Revenue from Contracts with External Customers$427,431 $304,805 $1,519,783 $924,651 
Gain on Commodity Derivative Instruments131,695 88,964 24,596 110,587 
Other Operating Income24,714 30,444 84,271 94,970 
Total Consolidated Revenue and Other Operating Income $583,840 $424,213 $1,628,650 $1,130,208