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Business Segments
 6 Months Ended
Jun. 30, 2016
Segment Reporting [Abstract]  
Segment Reporting Disclosure
BUSINESS SEGMENTS

We separate our operating activities into two segments: Oil and Gas Exploration and Production and Gas Marketing. All material inter-company accounts and transactions between segments have been eliminated.

Oil and Gas Exploration and Production. Our Oil and Gas Exploration and Production segment includes all of our crude oil and natural gas properties. The segment represents revenues and expenses from the production and sale of crude oil, natural gas and NGLs. Segment revenue includes crude oil, natural gas and NGLs sales, commodity price risk management, net and well operation and pipeline income. Segment income (loss) consists of segment revenue less production cost, exploration expense, impairment of properties and equipment, direct general and administrative expense and depreciation, depletion and amortization expense.

Gas Marketing. Our Gas Marketing segment purchases, aggregates and resells natural gas produced by unrelated third-parties. Segment income (loss) primarily represents sales from natural gas marketing and direct interest income, less costs of natural gas marketing and direct general and administrative expense.

Unallocated Amounts. Unallocated income includes unallocated other revenue, less corporate general and administrative expense, corporate DD&A expense, interest income and interest expense. Unallocated assets include assets utilized for corporate general and administrative purposes, as well as assets not specifically included in our two business segments.
    
The following tables present our segment information:

 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2016
 
2015
 
2016
 
2015
 
(in thousands)
Segment revenues:
 
 
 
 
 
 
 
Oil and gas exploration and production
$
18,218

 
$
48,437

 
$
106,878

 
$
189,836

Gas marketing
1,879

 
2,523

 
4,050

 
5,756

Total revenues
$
20,097

 
$
50,960

 
$
110,928

 
$
195,592

 
 
 
 
 
 
 
 
Segment income (loss) before income taxes:
 
 
 
 
 
 
 
Oil and gas exploration and production
$
(118,508
)
 
$
(44,364
)
 
$
(152,541
)
 
$
16,161

Gas marketing
(246
)
 
(313
)
 
(653
)
 
(338
)
Unallocated
(35,023
)
 
(32,309
)
 
(113,952
)
 
(65,024
)
Loss before income taxes
$
(153,777
)
 
$
(76,986
)
 
$
(267,146
)
 
$
(49,201
)
 
 
 
 
 
 
 
 

 
June 30, 2016
 
December 31, 2015
 
(in thousands)
Segment assets:
 
 
 
Oil and gas exploration and production
$
2,244,799

 
$
2,294,288

Gas marketing
4,117

 
4,217

Unallocated
22,754

 
72,038

Total assets
$
2,271,670

 
$
2,370,543