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Business Segment Information
 12 Months Ended
Dec. 31, 2015
Segment Reporting [Abstract]  
Business Segment Information
Business Segment Information

During the years ended December 31, 2015, 2014 and 2013, the Company had three reportable business segments: exploration and production, drilling and oilfield 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 oilfield services segment is engaged in the contract drilling of oil and natural gas wells and provides various oilfield 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.

As discussed in Note 22, the Company discontinued the substantial majority of activity within its drilling and oilfield services segment in January 2016. The Company is currently evaluating the impact of this event on its segment reporting for periods within the year ending December 31, 2016.
Management evaluates the performance of the Company’s business segments based on (loss) income 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, 2015
 
 
 
 
 
 
 
 
 
Revenues
$
707,446

 
$
67,358

 
$
81,083

 
$
5,342

 
$
861,229

Inter-segment revenue
(12
)
 
(45,234
)
 
(47,274
)
 
—

 
(92,520
)
Total revenues
$
707,434

 
$
22,124

 
$
33,809

 
$
5,342

 
$
768,709

Loss from operations
$
(4,461,907
)
 
$
(59,999
)
 
$
(15,218
)
 
$
(105,554
)
 
$
(4,642,678
)
Interest expense, net
(42
)
 
—

 
—

 
(321,379
)
 
(321,421
)
Gain on extinguishment of debt
—

 
—

 
—

 
641,131

 
641,131

Other income, net
1,368

 
13

 
253

 
406

 
2,040

Loss before income taxes
$
(4,460,581
)
 
$
(59,986
)
 
$
(14,965
)
 
$
214,604

 
$
(4,320,928
)
Capital expenditures(5)
$
656,022

 
$
4,632

 
$
21,556

 
$
19,405

 
$
701,615

Depreciation, depletion, amortization and accretion
$
324,471

 
$
17,438

 
$
11,742

 
$
18,121

 
$
371,772

At December 31, 2015
 
 
 
 
 
 
 
 
 
Total assets
$
1,959,975

 
$
27,621

 
$
254,212

 
$
749,347

 
$
2,991,155

Year Ended December 31, 2014
 
 
 
 
 
 
 
 
 
Revenues
$
1,423,073

 
$
192,944

 
$
142,987

 
$
4,376

 
$
1,763,380

Inter-segment revenue
(173
)
 
(116,856
)
 
(87,593
)
 
—

 
(204,622
)
Total revenues
$
1,422,900

 
$
76,088

 
$
55,394

 
$
4,376

 
$
1,558,758

Income (loss) from operations
$
713,716

 
$
(37,564
)
 
$
(9,094
)
 
$
(76,834
)
 
$
590,224

Interest income (expense), net
100

 
—

 
—

 
(244,209
)
 
(244,109
)
Other (expense) income, net
(423
)
 
(541
)
 
9

 
4,445

 
3,490

Income (loss) before income taxes
$
713,393

 
$
(38,105
)
 
$
(9,085
)
 
$
(316,598
)
 
$
349,605

Capital expenditures(5)
$
1,508,100

 
$
18,385

 
$
44,606

 
$
37,798

 
$
1,608,889

Depreciation, depletion, amortization and accretion
$
443,573

 
$
29,105

 
$
10,085

 
$
20,260

 
$
503,023

At December 31, 2014
 
 
 
 
 
 
 
 
 
Total assets
$
6,273,802

 
$
115,083

 
$
219,691

 
$
650,649

 
$
7,259,225

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

____________________
(1)
(Loss) income from operations includes full cost ceiling limitation impairments of $4.5 billion and $164.8 million for the years ended December 31, 2015 and 2014, respectively, a loss on the sale of the Permian Properties of $398.9 million for the year ended December 31, 2013 and the Company’s (gain) loss on derivative contracts, including net cash payments upon settlement, for the years ended December 31, 2015, 2014 and 2013. See Note 13 for discussion of derivative contracts.
(2)
For the years ended December 31, 2015, 2014 and 2013, (loss) income from operations includes impairments of $37.6 million, $27.4 million, and $11.1 million, respectively, on certain drilling assets.
(3)
For the years ended December 31, 2015, 2014 and 2013, (loss) income from operations includes impairments of other midstream assets and the Company’s gas treating plants in west Texas of $7.1 million, $0.6 million and $3.9 million, respectively.
(4)
(Loss) income from operations for the year ended December 31, 2015 includes an impairment of $15.4 million on property located in downtown Oklahoma City, Oklahoma and $0.7 million on gathering and compression equipment. See Note 7. For the year ended December 31, 2013, (loss) income 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.
(5)
On an accrual basis and exclusive of acquisitions.

Major Customers. For the years ended December 31, 2015, 2014 and 2013, the Company had sales exceeding 10% of total revenues to the following oil and natural gas purchasers (in thousands):
 
2015
 
Sales
 
% of Revenue
Plains Marketing, L.P.
$
318,018

 
41.4
%
Targa Pipeline Mid-Continent West OK LLC
$
231,649

 
30.1
%
 
2014
 
Sales
 
% of Revenue
Plains Marketing, L.P.
$
597,117

 
38.3
%
Targa Pipeline Mid-Continent West OK LLC
$
333,027

 
21.4
%
 
2013
 
Sales
 
% of Revenue
Plains Marketing, L.P.
$
491,258

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

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

 
10.7
%


Plains Marketing, L.P., Targa Pipeline Mid-Continent West OK LLC (formerly Atlas Pipeline Mid-Continent West OK LLC) and Shell Trading (US) Company are purchasers of oil, natural gas and NGLs sold by the Company’s exploration and production segment.