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Business Segment Information
 6 Months Ended
Jun. 30, 2014
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
 
All Other
 
Consolidated Total
Three Months Ended June 30, 2014
 
 
 
 
 
 
 
 
 
Revenues
$
339,906

 
$
51,891

 
$
38,420

 
$
1,105

 
$
431,322

Inter-segment revenue
—

 
(33,062
)
 
(23,546
)
 
—

 
(56,608
)
Total revenues
$
339,906

 
$
18,829

 
$
14,874

 
$
1,105

 
$
374,714

 
 
 
 
 
 
 
 
 
 
Income (loss) from operations
$
78,237

 
$
(2,347
)
 
$
(2,345
)
 
$
(23,011
)
 
$
50,534

Interest expense
(4
)
 
—

 
—

 
(61,859
)
 
(61,863
)
Other (expense) income, net
(49
)
 
(75
)
 
—

 
1,462

 
1,338

Income (loss) before income taxes
$
78,184

 
$
(2,422
)
 
$
(2,345
)
 
$
(83,408
)
 
$
(9,991
)
Capital expenditures(3)
$
356,568

 
$
6,654

 
$
5,808

 
$
7,907

 
$
376,937

Depreciation, depletion, amortization, accretion and impairment
$
98,357

 
$
10,794

 
$
2,509

 
$
5,216

 
$
116,876

Three Months Ended June 30, 2013
 
 
 
 
 
 
 
 
 
Revenues
$
458,374

 
$
47,100

 
$
64,291

 
$
778

 
$
570,543

Inter-segment revenue
(81
)
 
(31,011
)
 
(26,464
)
 
—

 
(57,556
)
Total revenues
$
458,293

 
$
16,089

 
$
37,827

 
$
778

 
$
512,987

 
 
 
 
 
 
 
 
 
 
Income (loss) from operations
$
241,666

 
$
(19,443
)
 
$
(7,956
)
 
$
(127,809
)
 
$
86,458

Interest income (expense)
317

 
—

 
(84
)
 
(61,392
)
 
(61,159
)
Other (expense) income, net
(330
)
 
—

 
135

 
89

 
(106
)
Income (loss) before income taxes
$
241,653

 
$
(19,443
)
 
$
(7,905
)
 
$
(189,112
)
 
$
25,193

Capital expenditures(3)
$
358,582

 
$
883

 
$
15,111

 
$
12,582

 
$
387,158

Depreciation, depletion, amortization, accretion and impairment
$
148,884

 
$
19,478

 
$
4,017

 
$
7,989

 
$
180,368

 
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2014
 
 
 
 
 
 
 
 
 
Revenues
$
747,244

 
$
98,971

 
$
84,715

 
$
2,075

 
$
933,005

Inter-segment revenue
—

 
(63,039
)
 
(52,196
)
 
—

 
(115,235
)
Total revenues
$
747,244

 
$
35,932

 
$
32,519

 
$
2,075

 
$
817,770

 
 
 
 
 
 
 
 
 
 
Income (loss) from operations
$
30,082

 
$
(5,449
)
 
$
(3,756
)
 
$
(44,352
)
 
$
(23,475
)
Interest income (expense), net
139

 
—

 
—

 
(124,045
)
 
(123,906
)
Other (expense) income, net
(234
)
 
(473
)
 
—

 
4,139

 
3,432

Income (loss) before income taxes
$
29,987

 
$
(5,922
)
 
$
(3,756
)
 
$
(164,258
)
 
$
(143,949
)
Capital expenditures(3)
$
620,809

 
$
7,275

 
$
11,766

 
$
12,860

 
$
652,710

Depreciation, depletion, amortization, accretion and impairment
$
384,176

 
$
18,506

 
$
4,950

 
$
10,476

 
$
418,108

At June 30, 2014
 
 
 
 
 
 
 
 
 
Total assets
$
5,288,478

 
$
142,858

 
$
193,867

 
$
1,287,616

 
$
6,912,819

 
 
 
 
 
 
 
 
 
 
 
Exploration and Production(1)
 
Drilling and Oil Field Services(2)
 
Midstream Services
 
All Other
 
Consolidated Total
Six Months Ended June 30, 2013
 
 
 
 
 
 
 
 
 
Revenues
$
939,784

 
$
96,837

 
$
101,125

 
$
1,631

 
$
1,139,377

Inter-segment revenue
(162
)
 
(63,378
)
 
(51,160
)
 
—

 
(114,700
)
Total revenues
$
939,622

 
$
33,459

 
$
49,965

 
$
1,631

 
$
1,024,677

 
 
 
 
 
 
 
 
 
 
Loss from operations
$
(60,042
)
 
$
(28,408
)
 
$
(10,415
)
 
$
(174,203
)
 
$
(273,068
)
Interest income (expense), net
635

 
—

 
(209
)
 
(147,495
)
 
(147,069
)
Loss on extinguishment of debt
—

 
—

 
—

 
(82,005
)
 
(82,005
)
Other income (expense), net
298

 
—

 
(664
)
 
871

 
505

Loss before income taxes
$
(59,109
)
 
$
(28,408
)
 
$
(11,288
)
 
$
(402,832
)
 
$
(501,637
)
Capital expenditures(3)
$
716,173

 
$
1,515

 
$
30,332

 
$
27,850

 
$
775,870

Depreciation, depletion, amortization, accretion and impairment
$
316,397

 
$
28,292

 
$
5,705

 
$
12,615

 
$
363,009

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

 
$
158,737

 
$
188,165

 
$
1,180,668

 
$
7,684,795

____________________
(1)
Income (loss) from operations includes a full cost ceiling limitation impairment of $164.8 million for the six-month period ended June 30, 2014, and a loss on the sale of the Permian Properties of $399.1 million for the six-month period ended June 30, 2013.
(2)
Income (loss) from operations includes an impairment of $3.1 million and $10.6 million on certain drilling assets held for sale for the three and six-month periods ended June 30, 2014 and June 30, 2013, respectively.
(3)
On an accrual basis and exclusive of acquisitions.