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Business Segment Information | 12 Months Ended
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Dec. 31, 2012
Segment Reporting [Abstract] |
Business Segment Information | Business Segment Information The Company has three business segments: exploration and production, drilling and oil field services and midstream services. These segments represent the Company’s three main business units, each offering different products and services. The exploration and production segment is engaged in the acquisition, development and production of oil and natural gas properties and includes the activities of the Royalty Trusts. The drilling and oil field services segment is engaged in the contract drilling of oil and natural gas wells and provides various oil field services. The midstream services segment is engaged in the purchasing, gathering, treating and selling of natural gas. The All Other column in the tables below includes items not related to the Company’s reportable segments, including the Company’s CO 2 gathering and sales as well as its corporate operations. Management evaluates the performance of the Company’s business segments based on income (loss) from operations, which is defined as segment operating revenues less operating expenses and depreciation, depletion, amortization and accretion. Summarized financial information concerning the Company’s segments is shown in the following table (in thousands):
| Exploration and Production |  | Drilling and Oil Field Services |  | Midstream Services |  | All Other |  | Consolidated Total
Year Ended December 31, 2012 |  |  |  |  |  |  |  |  |
Revenues | $ | 2,571,544 |  |  | $ | 379,345 |  |  | $ | 116,659 |  |  | $ | 4,356 |  |  | $ | 3,071,904 |
Inter-segment revenue | (403 | ) |  | (262,712 | ) |  | (77,824 | ) |  | — |  |  | (340,939 | )
Total revenues | $ | 2,571,141 |  |  | $ | 116,633 |  |  | $ | 38,835 |  |  | $ | 4,356 |  |  | $ | 2,730,965 |
Income (loss) from operations(1) | $ | 518,144 |  |  | $ | 11,911 |  |  | $ | (73,027 | ) |  | $ | (131,832 | ) |  | $ | 325,196 |
Interest income (expense), net | 1,286 |  |  | — |  |  | (559 | ) |  | (304,076 | ) |  | (303,349 | )
Bargain purchase gain | 122,696 |  |  | — |  |  | — |  |  | — |  |  | 122,696 |
Loss on extinguishment of debt | — |  |  | — |  |  | — |  |  | (3,075 | ) |  | (3,075 | )
Other income, net | 1,868 |  |  | — |  |  | — |  |  | 2,873 |  |  | 4,741 |
Income (loss) before income taxes | $ | 643,994 |  |  | $ | 11,911 |  |  | $ | (73,586 | ) |  | $ | (436,110 | ) |  | $ | 146,209 |
Capital expenditures(2) | $ | 1,951,490 |  |  | $ | 27,527 |  |  | $ | 80,413 |  |  | $ | 114,552 |  |  | $ | 2,173,982 |
Depreciation, depletion, amortization and accretion | $ | 598,101 |  |  | $ | 34,677 |  |  | $ | 7,188 |  |  | $ | 17,864 |  |  | $ | 657,830 |
At December 31, 2012 |  |  |  |  |  |  |  |  |
Total assets | $ | 8,681,056 |  |  | $ | 199,523 |  |  | $ | 151,492 |  |  | $ | 758,660 |  |  | $ | 9,790,731 |
Year Ended December 31, 2011 |  |  |  |  |  |  |  |  |
Revenues | $ | 1,237,565 |  |  | $ | 390,485 |  |  | $ | 183,912 |  |  | $ | 10,535 |  |  | $ | 1,822,497 |
Inter-segment revenue | (265 | ) |  | (287,187 | ) |  | (118,731 | ) |  | (1,101 | ) |  | (407,284 | )
Total revenues | $ | 1,237,300 |  |  | $ | 103,298 |  |  | $ | 65,181 |  |  | $ | 9,434 |  |  | $ | 1,415,213 |
Income (loss) from operations(1) | $ | 521,117 |  |  | $ | 10,341 |  |  | $ | (12,975 | ) |  | $ | (89,470 | ) |  | $ | 429,013 |
Interest income (expense), net | 509 |  |  | (95 | ) |  | (611 | ) |  | (237,135 | ) |  | (237,332 | )
Loss on extinguishment of debt | — |  |  | — |  |  | — |  |  | (38,232 | ) |  | (38,232 | )
Other income (expense), net | 3,601 |  |  | — |  |  | (485 | ) |  | 6 |  |  | 3,122 |
Income (loss) before income taxes | $ | 525,227 |  |  | $ | 10,246 |  |  | $ | (14,071 | ) |  | $ | (364,831 | ) |  | $ | 156,571 |
Capital expenditures(2) | $ | 1,697,691 |  |  | $ | 25,674 |  |  | $ | 38,514 |  |  | $ | 54,615 |  |  | $ | 1,816,494 |
Depreciation, depletion, amortization and accretion | $ | 328,753 |  |  | $ | 32,582 |  |  | $ | 4,650 |  |  | $ | 14,259 |  |  | $ | 380,244 |
At December 31, 2011 |  |  |  |  |  |  |  |  |
Total assets | $ | 5,345,527 |  |  | $ | 219,101 |  |  | $ | 138,844 |  |  | $ | 516,137 |  |  | $ | 6,219,609 |
Year Ended December 31, 2010 |  |  |  |  |  |  |  |  |
Revenues | $ | 779,450 |  |  | $ | 265,262 |  |  | $ | 275,071 |  |  | $ | 35,285 |  |  | $ | 1,355,068 |
Inter-segment revenue | (259 | ) |  | (236,687 | ) |  | (176,549 | ) |  | (9,837 | ) |  | (423,332 | )
Total revenues | $ | 779,191 |  |  | $ | 28,575 |  |  | $ | 98,522 |  |  | $ | 25,448 |  |  | $ | 931,736 |
Income (loss) from operations(1) | $ | 88,390 |  |  | $ | (9,970 | ) |  | $ | 3,959 |  |  | $ | (89,165 | ) |  | $ | (6,786 | )
Interest income (expense), net | 496 |  |  | (920 | ) |  | (649 | ) |  | (246,369 | ) |  | (247,442 | )
Other income, net | 1,251 |  |  | — |  |  | 625 |  |  | 682 |  |  | 2,558 |
Income (loss) before income taxes | $ | 90,137 |  |  | $ | (10,890 | ) |  | $ | 3,935 |  |  | $ | (334,852 | ) |  | $ | (251,670 | )
Capital expenditures(2) | $ | 1,018,699 |  |  | $ | 31,658 |  |  | $ | 48,401 |  |  | $ | 21,661 |  |  | $ | 1,120,419 |
Depreciation, depletion, amortization and accretion | $ | 278,110 |  |  | $ | 30,031 |  |  | $ | 4,030 |  |  | $ | 13,940 |  |  | $ | 326,111 |
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(1) | Exploration and production segment income from operations includes unrealized (gains) losses of $(209.7) million, $(94.8) million and $275.2 million on commodity derivative contracts for the years ended December 31, 2012, 2011 and 2010, respectively, and impairment of the Company’s goodwill of $235.4 million for the year ended December 31, 2012. For the year ended December 31, 2012, the loss from operations for the midstream services segment includes a $59.7 million impairment of the Company’s gas treating plants in west Texas and the loss from operations in the All Other column includes a $19.6 million impairment of the Company’s CO 2 compression facilities.
(2) | On an accrual basis and exclusive of acquisitions.
Major Customers. For the years ended December 31, 2012, 2011 and 2010, the Company had sales exceeding 10% of total revenues to the following oil and natural gas purchasers (in thousands):
| 2012
| Sales |  | % of Revenue
Occidental Petroleum Corporation | $ | 829,081 |  |  | 30.4 | %
Plains Marketing, L.P. | $ | 426,339 |  |  | 15.6 | %
Enterprise Crude Oil, LLC | $ | 394,162 |  |  | 14.4 | %
| 2011
| Sales |  | % of Revenue
Enterprise Crude Oil, LLC | $ | 319,277 |  |  | 22.6 | %
Plains Marketing, L.P. | $ | 276,285 |  |  | 19.5 | %
| 2010
| Sales |  | % of Revenue
Plains Marketing, L.P. | $ | 239,396 |  |  | 25.7 | %
Conoco Phillips Company | $ | 109,358 |  |  | 11.7 | %
Plains Marketing, L.P., Enterprise Crude Oil, LLC and Conoco Phillips Company represent oil and natural gas purchasers from the Company’s exploration and production segment. Occidental revenues primarily represent construction contract revenues from the exploration and production segment recorded in conjunction with substantial completion of the Century Plant.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 + Details
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