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Segment Information (Tables)

9 Months Ended

Sep. 30, 2019

Industry segment results for the three months ended September 30, 2019:



	Marcellus Shale		Utica Shale		Coalbed Methane		Other Gas		Total E&P		Midstream		Unallocated			Intercompany Eliminations			Consolidated
Natural Gas, NGLs and Oil Revenue	$	179,142	$	50,042	$	35,621	$	246	$	265,051	$	—	$	—		$	—		$	265,051	(A)
Purchased Gas Revenue	—		—		—		29,192		29,192		—		—			—			29,192
Midstream Revenue	—		—		—		—		—		74,261		—			(55,736		)	18,525
Gain on Commodity Derivative Instruments	38,354		12,628		6,036		156,895		213,913		—		—			—			213,913
Other Operating Income	—		—		—		3,375		3,375		—		—			(59		)	3,316		(B)
Total Revenue and Other Operating Income	$	217,496	$	62,670	$	41,657	$	189,708	$	511,531	$	74,261	$	—		$	(55,795	)	$	529,997
Earnings Before Income Tax	$	41,014	$	18,220	$	8,717	$	83,279	$	151,230	$	41,741	$	(109	)	$	—		$	192,862
Segment Assets									$	7,087,782	$	2,178,073	$	16,668		$	3,735		$	9,286,258	(C)
Depreciation, Depletion and Amortization									$	111,839	$	8,620	$	—		$	—		$	120,459
Capital Expenditures									$	267,689	$	68,448	$	—		$	—		$	336,137


(A)	Included in Total Natural Gas, NGLs and Oil Revenue are sales of $39,092 to Direct Energy Business Marketing LLC, which comprises over 10% of revenue from contracts with external customers for the period.


(B)	Includes equity in earnings of unconsolidated affiliates of $673 for Total E&P.


(C)	Includes investments in unconsolidated equity affiliates of $17,110 for Total E&P.

Industry segment results for the three months ended September 30, 2018:



	Marcellus Shale		Utica Shale			Coalbed Methane		Other Gas			Total E&P		Midstream		Unallocated		Intercompany Eliminations			Consolidated
Natural Gas, NGLs and Oil Revenue	$	207,407	$	88,039		$	48,471	$	795		$	344,712	$	—	$	—	$	—		$	344,712	(D)
Purchased Gas Revenue	—		—			—		10,560			10,560		—		—		—			10,560
Midstream Revenue	—		—			—		—			—		61,372		—		(41,426		)	19,946
Gain (Loss) on Commodity Derivative Instruments	1,796		(151		)	605		15,755			18,005		—		—		—			18,005
Other Operating Income	—		—			—		3,969			3,969		—		—		(66		)	3,903		(E)
Total Revenue and Other Operating Income	$	209,203	$	87,888		$	49,076	$	31,079		$	377,246	$	61,372	$	—	$	(41,492	)	$	397,126
Earnings (Loss) Before Income Tax	$	64,408	$	41,237		$	9,642	$	(60,856	)	$	54,431	$	31,173	$	117,830	$	—		$	203,434
Segment Assets											$	6,256,132	$	1,883,134	$	82,696	$	(12,926	)	$	8,209,036	(F)
Depreciation, Depletion and Amortization											$	111,844	$	7,741	$	—	$	—		$	119,585
Capital Expenditures											$	253,263	$	44,202	$	—	$	—		$	297,465


(D)	Included in Total Natural Gas, NGLs and Oil Revenue are sales of $42,901 to NJR Energy Services Company, which comprises over 10% of revenue from contracts with external customers for the period.


(E)	Includes equity in earnings of unconsolidated affiliates of $1,241 for Total E&P.


(F)	Includes investments in unconsolidated equity affiliates of $19,488 for Total E&P.

Industry segment results for the nine months ended September 30, 2019:



	Marcellus Shale		Utica Shale		Coalbed Methane		Other Gas			Total E&P		Midstream		Unallocated			Intercompany Eliminations			Consolidated
Natural Gas, NGLs and Oil Revenue	$	709,656	$	208,206	$	125,094	$	906		$	1,043,862	$	—	$	—		$	—		$	1,043,862	(A)
Purchased Gas Revenue	—		—		—		64,181			64,181		—		—			—			64,181
Midstream Revenue	—		—		—		—			—		225,280		—			(169,417		)	55,863
Gain on Commodity Derivative Instruments	17,727		5,774		2,819		213,798			240,118		—		—			—			240,118
Other Operating Income	—		—		—		9,671			9,671		—		—			(235		)	9,436		(B)
Total Revenue and Other Operating Income	$	727,383	$	213,980	$	127,913	$	288,556		$	1,357,832	$	225,280	$	—		$	(169,652	)	$	1,413,460
Earnings (Loss) Before Income Tax	$	178,326	$	68,165	$	29,219	$	(42,650	)	$	233,060	$	118,739	$	(1,662	)	$	—		$	350,137
Segment Assets										$	7,087,782	$	2,178,073	$	16,668		$	3,735		$	9,286,258	(C)
Depreciation, Depletion and Amortization										$	349,620	$	24,999	$	—		$	—		$	374,619
Capital Expenditures										$	716,164	$	248,338	$	—		$	—		$	964,502


(A)	Included in Total Natural Gas, NGLs and Oil Revenue are sales of $155,337 to Direct Energy Business Marketing LLC and $114,440 to NJR Energy Services Company, each of which comprise over 10% of revenue from contracts with external customers for the period.


(B)	Includes equity in earnings of unconsolidated affiliates of $1,703 for Total E&P.


(C)	Includes investments in unconsolidated equity affiliates of $17,110 for Total E&P.

Industry segment results for the nine months ended September 30, 2018:



	Marcellus Shale		Utica Shale		Coalbed Methane		Other Gas			Total E&P		Midstream		Unallocated		Intercompany Eliminations			Consolidated
Natural Gas, NGLs and Oil Revenue	$	590,728	$	326,119	$	152,854	$	15,150		$	1,084,851	$	—	$	—	$	—		$	1,084,851	(D)
Purchased Gas Revenue	—		—		—		38,546			38,546		—		—		—			38,546
Midstream Revenue	—		—		—		—			—		186,875		—		(117,191		)	69,684
Gain on Commodity Derivative Instruments	1,411		746		330		76,265			78,752		—		—		—			78,752
Other Operating Income	—		—		—		23,355			23,355		—		—		(209		)	23,146		(E)
Total Revenue and Other Operating Income	$	592,139	$	326,865	$	153,184	$	153,316		$	1,225,504	$	186,875	$	—	$	(117,400	)	$	1,294,979
Earnings (Loss) Before Income Tax	$	155,923	$	143,830	$	35,164	$	(138,551	)	$	196,366	$	94,502	$	702,097	$	—		$	992,965
Segment Assets										$	6,256,132	$	1,883,134	$	82,696	$	(12,926	)	$	8,209,036	(F)
Depreciation, Depletion and Amortization										$	338,834	$	24,504	$	—	$	—		$	363,338
Capital Expenditures										$	708,660	$	85,464	$	—	$	—		$	794,124


(D)	Included in Total Natural Gas, NGLs and Oil Revenue are sales of $158,746 to NJR Energy Services Company, which comprises over 10% of revenue from contracts with external customers for the period.


(E)	Includes equity in earnings of unconsolidated affiliates of $4,688 for Total E&P.

(F)

Includes investments in unconsolidated equity affiliates of $19,488 for Total E&P.

Revenue and Other Operating Income



	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2019		2018		2019		2018
Total Segment Revenue from Contracts with External Customers	$	312,768	$	375,218	$	1,163,906	$	1,193,081
Gain on Commodity Derivative Instruments	213,913		18,005		240,118		78,752
Other Operating Income	3,316		3,903		9,436		23,146
Total Consolidated Revenue and Other Operating Income	$	529,997	$	397,126	$	1,413,460	$	1,294,979

Earnings Before Income Tax:



	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2019			2018			2019			2018
Segment Income Before Income Taxes for Reportable Business Segments:
Total E&P	$	151,230		$	54,431		$	233,060		$	196,366
Midstream	41,741			31,173			118,739			94,502
Total Segment Income Before Income Taxes for Reportable Business Segments	$	192,971		$	85,604		$	351,799		$	290,868
Unallocated Expenses:
Other (Expense) Income	(3,109		)	(1,105		)	(1,578		)	4,811
Gain on Certain Asset Sales	3,000			134,320			7,530			146,706
Gain on Previously Held Equity Interest	—			—			—			623,663
Loss on Debt Extinguishment	—			(15,385		)	(7,614		)	(54,433		)
Impairment of Other Intangible Assets	—			—			—			(18,650		)
Earnings Before Income Tax	$	192,862		$	203,434		$	350,137		$	992,965

Total Assets:



	September 30,
	2019		2018
Segment Assets for Total Reportable Business Segments:
E&P	$	7,087,782	$	6,256,132
Midstream	2,178,073		1,883,134
Intercompany Eliminations	3,735		(12,926		)
Items Excluded from Segment Assets:
Cash and Cash Equivalents	5,484		42,672
Recoverable Income Taxes	11,184		40,024
Total Consolidated Assets	$	9,286,258	$	8,209,036