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Industry Segment Information
 3 Months Ended
Mar. 31, 2016
Segment Reporting [Abstract]  
Industry Segment Information
INDUSTRY SEGMENT INFORMATION

We have three main business segments offering different products and services:
 
•
Oil and natural gas,
•
Contract drilling, and
•
Mid-stream

The oil and natural gas segment is engaged in the development, acquisition, and production of oil, NGLs, and natural gas properties. The contract drilling segment is engaged in the land contract drilling of oil and natural gas wells and the mid-stream segment is engaged in the buying, selling, gathering, processing, and treating of natural gas and NGLs.

We evaluate each segment’s performance based on its operating income, which is defined as operating revenues less operating expenses and depreciation, depletion, amortization, and impairment. We have no oil and natural gas production outside the United States.

The following table provides certain information about the operations of each of our segments:

 
 
Three Months Ended
 
 
March 31,
 
 
2016
 
2015
 
 
(In thousands)
Revenues:
 
 
 
 
Oil and natural gas
 
$
58,274

 
$
106,069

 
 
 
 
 
Contract drilling
 
38,710

 
104,938

Elimination of inter-segment revenue
 
—

 
(9,861
)
Contract drilling net of inter-segment revenue
 
38,710

 
95,077

 
 
 
 
 
Gas gathering and processing
 
49,045

 
73,804

Elimination of inter-segment revenue
 
(9,845
)
 
(19,851
)
Gas gathering and processing net of inter-segment revenue
 
39,200

 
53,953

 
 
 
 
 
Total revenues
 
$
136,184

 
$
255,099

Operating loss:
 

 

Oil and natural gas
 
$
(44,733
)
 
$
(416,853
)
Contract drilling
 
(1,583
)
 
28,318

Gas gathering and processing
 
(3,325
)
 
(916
)
Total operating loss (1)
 
(49,641
)
 
(389,451
)
General and administrative
 
(8,715
)
 
(9,370
)
Gain on disposition of assets
 
192

 
545

Gain on derivatives
 
10,929

 
6,586

Interest expense, net
 
(9,617
)
 
(7,240
)
Other
 
(15
)
 
(2
)
Loss before income taxes
 
$
(56,867
)
 
$
(398,932
)
_______________________
(1)
Operating loss is total operating revenues less operating expenses, depreciation, depletion, amortization, and impairment and does not include general corporate expenses, gain on disposition of assets, gain on derivatives, interest expense, other income (loss), or income taxes.