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Business Segment Information
 6 Months Ended
Jun. 30, 2016
Segment Reporting [Abstract]  
Business Segment Information
Business Segment Information

During the three and six-month periods ended June 30, 2016, the Company had two reportable segments: exploration and production and midstream services. These segments represent the Company’s two 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 Company’s proportionate share of the activities of the Royalty Trusts. The midstream services segment coordinates the delivery of electricity to the Company’s exploration and production operations in the Mid-Continent. During the three and six-month periods ended June 30, 2015, the Company operated in a third reportable segment, drilling and oilfield services; however, due to the discontinuance of the substantial majority of activity within the drilling and oilfield services business during the first quarter of 2016, this business no longer constitutes a reportable segment. The All Other columns in the tables below include items not related to the Company’s currently reportable segments, including drilling and oilfield services activity and 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)(2)
 
Midstream Services(3)
 
All Other(4)
 
Consolidated Total
Three Months Ended June 30, 2016
 
 
 
 
 
 
 
Revenues
$
95,662

 
$
7,395

 
$
2,469

 
$
105,526

Inter-segment revenue
—

 
(4,141
)
 
(1,964
)
 
(6,105
)
Total revenues
$
95,662

 
$
3,254

 
$
505

 
$
99,421

(Loss) income from operations
$
(246,242
)
 
$
2,197

 
$
(31,265
)
 
$
(275,310
)
Interest expense
—

 
—

 
(41,605
)
 
(41,605
)
Loss on extinguishment of debt
—

 
—

 
(152
)
 
(152
)
Reorganization items, net
(18,504
)
 
(39
)
 
(182,375
)
 
(200,918
)
Other income, net
1,674

 
22

 
381

 
2,077

(Loss) income before income taxes
$
(263,072
)
 
$
2,180

 
$
(255,016
)
 
$
(515,908
)
Capital expenditures(5)
$
54,505

 
$
689

 
$
957

 
$
56,151

Depreciation, depletion, amortization and accretion
$
29,359

 
$
2,345

 
$
4,609

 
$
36,313

 
 
 
 
 
 
 
 
Three Months Ended June 30, 2015
 
 
 
 
 
 
 
Revenues
$
214,534

 
$
20,782

 
$
18,389

 
$
253,705

Inter-segment revenue
(2
)
 
(12,176
)
 
(11,920
)
 
(24,098
)
Total revenues
$
214,532

 
$
8,606

 
$
6,469

 
$
229,607

Loss from operations
$
(1,511,600
)
 
$
(3,154
)
 
$
(20,329
)
 
$
(1,535,083
)
Interest expense
(23
)
 
—

 
(73,704
)
 
(73,727
)
Gain on extinguishment of debt
—

 
—

 
17,934

 
17,934

Other income, net
1,630

 
9

 
531

 
2,170

Loss before income taxes
$
(1,509,993
)
 
$
(3,145
)
 
$
(75,568
)
 
$
(1,588,706
)
Capital expenditures(5)
$
151,440

 
$
8,249

 
$
7,877

 
$
167,566

Depreciation, depletion, amortization and accretion
$
95,430

 
$
2,793

 
$
9,694

 
$
107,917

 
 
 
 
 
 
 
 
Six Months Ended June 30, 2016
 
 
 
 
 
 
 
Revenues
$
180,037

 
$
17,640

 
$
6,659

 
$
204,336

Inter-segment revenue
—

 
(10,099
)
 
(4,484
)
 
(14,583
)
Total revenues
$
180,037

 
$
7,541

 
$
2,175

 
$
189,753

Loss from operations
$
(478,449
)
 
$
(1,391
)
 
$
(69,025
)
 
$
(548,865
)
Interest income (expense), net
1

 
—

 
(122,757
)
 
(122,756
)
Gain on extinguishment of debt
—

 
—

 
41,179

 
41,179

Reorganization items, net
(18,504
)
 
(39
)
 
(182,375
)
 
(200,918
)
Other income (expense), net
2,424

 
(473
)
 
279

 
2,230

Loss before income taxes
$
(494,528
)
 
$
(1,903
)
 
$
(332,699
)
 
$
(829,130
)
Capital expenditures(5)
$
105,049

 
$
1,919

 
$
2,664

 
$
109,632

Depreciation, depletion, amortization and accretion
$
63,293

 
$
4,791

 
$
8,978

 
$
77,062

At June 30, 2016
 
 
 
 
 
 
 
Total assets
$
1,150,340

 
$
203,351

 
$
887,217

 
$
2,240,908

 
Exploration and Production(1)(2)
 
Midstream Services(3)
 
All Other(4)
 
Consolidated Total
Six Months Ended June 30, 2015
 
 
 
 
 
 
 
Revenues
$
410,277

 
$
42,312

 
$
43,985

 
$
496,574

Inter-segment revenue
(13
)
 
(24,942
)
 
(26,704
)
 
(51,659
)
Total revenues
$
410,264

 
$
17,370

 
$
17,281

 
$
444,915

Loss from operations
$
(2,565,759
)
 
$
(7,027
)
 
$
(50,753
)
 
$
(2,623,539
)
Interest expense, net
(40
)
 
—

 
(136,529
)
 
(136,569
)
Gain on extinguishment of debt
—

 
—

 
17,934

 
17,934

Other income, net
1,176

 
13

 
445

 
1,634

Loss before income taxes
$
(2,564,623
)
 
$
(7,014
)
 
$
(168,903
)
 
$
(2,740,540
)
Capital expenditures(5)
$
453,503

 
$
16,681

 
$
17,572

 
$
487,756

Depreciation, depletion, amortization and accretion
$
202,640

 
$
5,473

 
$
20,338

 
$
228,451

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

 
$
254,212

 
$
707,840

 
$
2,922,027

____________________
(1)
Loss from operations for the three and six-month periods ended June 30, 2016 includes full cost ceiling limitation impairments of $251.0 million and $359.4 million, respectively, and losses on the settlement of contracts of $1.1 million and $90.2 million, respectively. Additionally, the loss from operations for the six-month period ended June 30, 2016 includes the write off a $16.7 million joint interest receivable after determination that its collection was doubtful at March 31, 2016.
(2)
Loss from operations for the three and six-month periods ended June 30, 2015 includes full cost ceiling limitation impairments of $1.5 billion and $2.6 billion, respectively.
(3)
Loss from operations for the six-month period ended June 30, 2016 includes a $1.7 million impairment of midstream assets.
(4)
Loss from operations for the three and six-month periods ended June 30, 2016 includes a $2.7 million impairment of certain drilling and oilfield services assets previously classified as held for sale.
(5)
On an accrual basis and exclusive of acquisitions.