Segment Information (Tables)

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Industry Segment Results

Industry segment results for the three months ended September 30, 2020: 

	Shale		Coalbed Methane		Other		Consolidated
Natural Gas, NGL and Oil Revenue	$	155,792	$	25,667	$	754	$	182,213	(A)
Purchased Gas Revenue	—		—		31,541		31,541
Gain (Loss) on Commodity Derivative Instruments	79,773		10,518		(259,125)		(168,834)
Other Revenue and Operating Income	16,689		—		4,466		21,155		(B)
Total Revenue and Other Operating Income	$	252,254	$	36,185	$	(222,364)	$	66,075
Total Operating Expense	$	165,587	$	30,439	$	83,479	$	279,505
Earnings (Loss) Before Income Tax	$	86,667	$	5,746	$	(342,485)	$	(250,072)
Segment Assets	$	6,070,356	$	1,125,312	$	933,506	$	8,129,174	(C)
Depreciation, Depletion and Amortization	$	94,617	$	15,763	$	4,084	$	114,464
Capital Expenditures	$	105,988	$	2,310	$	37	$	108,335

(A)    Included in Total Natural Gas, NGL and Oil Revenue are sales of $35,645 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 $396 for Other.

(C)    Includes investments in unconsolidated equity affiliates of $15,685.

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

	Shale		Coalbed Methane		Other		Consolidated
Natural Gas, NGL and Oil Revenue	$	229,183	$	35,621	$	247	$	265,051	(D)
Purchased Gas Revenue	—		—		29,192		29,192
Gain on Commodity Derivative Instruments	50,982		6,036		156,895		213,913
Other Revenue and Operating Income	18,525		—		3,316		21,841		(E)
Total Revenue and Other Operating Income	$	298,690	$	41,657	$	189,650	$	529,997
Total Operating Expense	$	185,452	$	32,940	$	80,207	$	298,599
Earnings Before Income Tax	$	113,238	$	8,717	$	70,907	$	192,862
Segment Assets	$	6,911,677	$	1,231,509	$	1,143,072	$	9,286,258	(F)
Depreciation, Depletion and Amortization	$	100,545	$	17,400	$	2,514	$	120,459
Capital Expenditures	$	332,640	$	2,196	$	1,301	$	336,137

(D)    Included in Total Natural Gas, NGL 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.

(E)    Includes equity in earnings of unconsolidated affiliates of $673 for Other.

(F)    Includes investments in unconsolidated equity affiliates of $17,110.

Industry segment results for the nine months ended September 30, 2020: 

	Shale		Coalbed Methane		Other		Consolidated
Natural Gas, NGL and Oil Revenue	$	528,913	$	79,319	$	1,251	$	609,483	(A)
Purchased Gas Revenue	—		—		78,324		78,324
Gain (Loss) on Commodity Derivative Instruments	266,488		33,210		(416,693)		(116,995)		(B)
Other Revenue and Operating Income	47,286		—		13,177		60,463		(C)
Total Revenue and Other Operating Income	$	842,687	$	112,529	$	(323,941)	$	631,275
Total Operating Expense	$	511,653	$	94,113	$	779,532	$	1,385,298
Earnings (Loss) Before Income Tax	$	331,034	$	18,416	$	(1,216,459)	$	(867,009)
Segment Assets	$	6,070,356	$	1,125,312	$	933,506	$	8,129,174	(D)
Depreciation, Depletion and Amortization	$	295,648	$	49,903	$	11,623	$	357,174
Capital Expenditures	$	385,763	$	6,796	$	2,677	$	395,236

(A)    Included in Total Natural Gas, NGL and Oil Revenue are sales of $115,011 to Direct Energy Business Marketing LLC, which comprises over 10% of revenue from contracts with external customers for the period.

(B)    Included in Other is a realized gain on commodity derivative instruments of $83,997 related to the monetization of hedges (see Note 11 - Derivative Instruments for more information).

(C)    Includes equity in loss of unconsolidated affiliates of $1,025 for Other.

(D)    Includes investments in unconsolidated equity affiliates of 15,685.

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

	Shale		Coalbed Methane		Other		Consolidated
Natural Gas, NGL and Oil Revenue	$	917,862	$	125,094	$	906	$	1,043,862	(E)
Purchased Gas Revenue	—		—		64,181		64,181
Gain on Commodity Derivative Instruments	23,501		2,819		213,798		240,118
Other Revenue and Operating Income	55,863		—		9,436		65,299		(F)
Total Revenue and Other Operating Income	$	997,226	$	127,913	$	288,321	$	1,413,460
Total Operating Expense	$	586,030	$	98,694	$	254,510	$	939,234
Earnings (Loss) Before Income Tax	$	411,196	$	29,219	$	(90,278)	$	350,137
Segment Assets	$	6,911,677	$	1,231,509	$	1,143,072	$	9,286,258	(G)
Depreciation, Depletion and Amortization	$	316,596	$	51,669	$	6,354	$	374,619
Capital Expenditures	$	951,427	$	7,752	$	5,323	$	964,502

(E)    Included in Total Natural Gas, NGL 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 comprises over 10% of revenue from contracts with external customers for the period.

(F)    Includes equity in earnings of unconsolidated affiliates of $1,703 for Other.

(G)    Includes investments in unconsolidated equity affiliates of $17,110.

Reconciliation of Revenue and Other Operating Income from Segments to Consolidated

Revenue and Other Operating Income

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
Total Segment Revenue from Contracts with External Customers	$	230,443	$	312,767	$	735,093	$	1,163,906
(Loss) Gain on Commodity Derivative Instruments	(168,834)		213,913		(116,995)		240,118
Other Operating Income	4,466		3,317		13,177		9,436
Total Consolidated Revenue and Other Operating Income	$	66,075	$	529,997	$	631,275	$	1,413,460

Reconciliation of Assets and Liabilities from Segment to Consolidated

Total Assets:

	September 30,
	2020		2019
Segment Assets for Reportable Business Segments	$	7,195,668	$	8,143,186
Segment Assets for Other	782,730		1,126,404
Items Excluded from Segment Assets:
Cash and Cash Equivalents	150,132		5,484
Recoverable Income Taxes	644		11,184
Total Consolidated Assets	$	8,129,174	$	9,286,258