Operating Segments

6 Months Ended

Jun. 30, 2012

Operating Segments [Abstract]

Operating Segments

Note 12 — Operating Segments

Operating segment data for the periods indicated is as follows (in thousands):

	Production			Pipeline		Total
Three months ended June 30, 2011
Revenues	$	23,058		$	2,466	$	25,524
Operating profit	$	8,129		$	232	$	8,361
Three months ended June 30, 2012
Revenues	$	11,124		$	2,814	$	13,938
Operating profit (loss)	$	(6,781	)	$	1,208	$	(5,573	)
Six months ended June 30, 2011
Revenues	$	44,651		$	5,639	$	50,290
Operating profit	$	21,259		$	805	$	22,064
Six months ended June 30, 2012
Revenues	$	25,445		$	6,242	$	31,687
Operating profit (loss)	$	(10,019	)	$	2,908	$	(7,111	)
Identifiable assets
December 31, 2011	$	245,093		$	61,618	$	306,711
June 30, 2012	$	207,588		$	60,075	$	267,663

The following table reconciles segment operating profits reported above to income before income taxes and non-controlling interests (in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2011			2012			2011			2012
Segment operating profit (loss) (1)	$	8,361		$	(5,573	)	$	22,064		$	(7,111	)
General and administrative expenses		(5,148	)		(3,878	)		(10,036	)		(8,457	)
Litigation reserve		(100	)		—			(9,600	)		—
Gain from forgiveness of debt		1,647			255			1,647			255
Gain from derivative financial instruments		5,568			(159	)		4,747			11,866
Interest expense, net		(2,633	)		(2,524	)		(5,322	)		(5,265	)
Loss from equity investment		—			(6,636	)		—			(2,467	)
Other income (expense), net		(164	)		7			170			18
Income (loss) before income taxes	$	7,531		$	(18,508	)	$	3,670		$	(11,161	)

(1) Segment operating profit represents total revenues less costs and expenses directly attributable thereto.