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Business Segment Information
 12 Months Ended
Dec. 31, 2013
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 exploration 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 and coordinates the delivery of electricity to the Company’s exploration and production operations in the Mid-Continent. The All Other column in the tables below includes items not related to the Company’s reportable segments, including the Company’s corporate operations.
Management evaluates the performance of the Company’s business segments based on income (loss) from operations.
Summarized financial information concerning the Company’s segments is shown in the following table (in thousands):
 
Exploration and
Production(1)
 
Drilling and Oil
Field Services(2)
 
Midstream
Services(3)
 
All Other(4)
 
Consolidated
Total
Year Ended December 31, 2013
 
 
 
 
 
 
 
 
 
Revenues
$
1,834,480

 
$
187,456

 
$
179,989

 
$
3,127

 
$
2,205,052

Inter-segment revenue
(320
)
 
(120,815
)
 
(100,529
)
 
—

 
(221,664
)
Total revenues
$
1,834,160

 
$
66,641

 
$
79,460

 
$
3,127

 
$
1,983,388

Income (loss) from operations
$
62,509

 
$
(40,155
)
 
$
(21,567
)
 
$
(169,788
)
 
$
(169,001
)
Interest income (expense), net
1,168

 
—

 
(209
)
 
(271,193
)
 
(270,234
)
Loss on extinguishment of debt
—

 
—

 
—

 
(82,005
)
 
(82,005
)
Other income (expense), net
5,487

 
—

 
(3,222
)
 
10,180

 
12,445

Income (loss) before income taxes
$
69,164

 
$
(40,155
)
 
$
(24,998
)
 
$
(512,806
)
 
$
(508,795
)
Capital expenditures(5)
$
1,319,012

 
$
7,125

 
$
55,706

 
$
42,040

 
$
1,423,883

Depreciation, depletion, amortization and accretion
$
605,242

 
$
33,291

 
$
7,972

 
$
20,140

 
$
666,645

At December 31, 2013
 
 
 
 
 
 
 
 
 
Total assets
$
6,157,225

 
$
158,737

 
$
188,165

 
$
1,180,668

 
$
7,684,795

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
$
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(5)
$
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
$
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(5)
$
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

____________________
(1)
Income from operations includes impairment of the Company’s goodwill of $235.4 million for the year ended December 31, 2012.
(2)
For the year ended December 31, 2013, loss from operations includes impairment of $11.1 million on certain drilling assets.
(3)
For the years ended December 31, 2013 and 2012, loss from operations includes impairments of the Company’s gas treating plants in west Texas and other midstream assets of $3.9 million and $59.7 million, respectively.
(4)
For the year ended December 31, 2013, loss from operations includes a $2.9 million impairment of a corporate asset and an $8.3 million impairment of the Company’s CO2 compression facilities. For the year ended December 31, 2012, loss from operations includes a $19.6 million impairment of the Company’s CO2 compression facilities.
(5)
On an accrual basis and exclusive of acquisitions.

Major Customers. For the years ended December 31, 2013, 2012 and 2011, the Company had sales exceeding 10% of total revenues to the following oil and natural gas purchasers (in thousands):
 
2013
 
Sales
 
% of Revenue
Plains Marketing, L.P.
$
491,258

 
24.8
%
Shell Trading (US) Company
$
347,422

 
17.5
%
Atlas Pipeline Mid-Continent West OK LLC
$
211,838

 
10.7
%
 
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
%


Plains Marketing, L.P., Shell Trading (US) Company, Atlas Pipeline Mid-Continent West OK LLC, and Enterprise Crude Oil, LLC are purchasers of oil, natural gas and NGLs sold by the Company’s exploration and production segment. Sales to Occidental primarily represent construction contract revenues recognized by the exploration and production segment in conjunction with substantial completion of the Century Plant.