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Industry Segment Information
 9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
Industry Segment Information INDUSTRY SEGMENT INFORMATION
We have three main business segments offering different products and services within the energy industry:
 
•Oil and natural gas - the oil and natural gas segment is engaged in the acquisition, development, and production of oil, NGLs, and natural gas properties.
•Contract drilling - the contract drilling segment is engaged in the land contract drilling of oil and natural gas wells.
•Mid-Stream - the mid-stream segment buys, sells, gathers, processes, and treats natural gas and NGLs for third parties and for our own account. We presently own 50% of this subsidiary, and subsequent to the deconsolidation of Superior as of March 1, 2022 (as discussed in Note 2 - Summary Of Significant Accounting Policies and Note 15 - Superior Investment), we will continue to include our equity method investment in Superior and related earnings in our mid-stream segment.

We evaluate each consolidated 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 or other operations outside the United States.

The following tables provide certain information about the operations of each of our segments:

Three Months Ended September 30, 2022
 Oil and Natural GasContract DrillingMid-StreamCorporate and Other
Eliminations
Total Consolidated
 (In thousands)
Revenues: (1)
Oil and natural gas$80,026 $— $— $— $— $80,026 
Contract drilling— 40,256 — — — 40,256 
Total revenues80,026 40,256 — — — 120,282 
Expenses:
Operating costs:
Oil and natural gas21,235 — — — — 21,235 
Contract drilling— 25,823 — — — 25,823 
Total operating costs
21,235 25,823 — — — 47,058 
Depreciation, depletion, and amortization
1,840 1,590 — 91 — 3,521 
Total expenses23,075 27,413 — 91 — 50,579 
General and administrative
— — — 5,601 — 5,601 
(Gain) loss on disposition of assets335 (2,528)— 35 — (2,158)
Income (loss) from operations56,616 15,371 — (5,727)— 66,260 
Loss on derivatives— — — (12,381)— (12,381)
Gain on change in fair value of warrants— — — — — — 
Reorganization items, net— — — (48)— (48)
Interest, net— — — (37)— (37)
Other18 12 — 1,994 — 2,024 
Income (loss) before income taxes$56,634 $15,383 $— $(16,199)$— $55,818 
1.The revenues for oil and natural gas occur at a point in time. The revenues for contract drilling and gas gathering and processing occur over time.
Three Months Ended September 30, 2021
 Oil and Natural GasContract DrillingMid-StreamCorporate and OtherEliminationsTotal Consolidated
 (In thousands)
Revenues: (1)
Oil and natural gas$66,202 $— $— $— $(13,322)$52,880 
Contract drilling— 19,158 — — — 19,158 
Gas gathering and processing— — 92,022 — (812)91,210 
Total revenues66,202 19,158 92,022 — (14,134)163,248 
Expenses:
Operating costs:
Oil and natural gas22,022 — — — (812)21,210 
Contract drilling— 15,357 — — — 15,357 
Gas gathering and processing— — 76,823 — (14,202)62,621 
Total operating costs
22,022 15,357 76,823 — (15,014)99,188 
Depreciation, depletion, and amortization
5,311 1,576 8,143 264 — 15,294 
Total expenses27,333 16,933 84,966 264 (15,014)114,482 
General and administrative
— — — 4,246 880 5,126 
Gain on disposition of assets(14)(3,091)— (926)— (4,031)
Income (loss) from operations38,883 5,316 7,056 (3,584)— 47,671 
Loss on derivatives— — — (39,742)— (39,742)
Loss on change in fair value of warrants— — — (9,054)— (9,054)
Reorganization items, net— — — (971)— (971)
Interest, net— — (250)(452)— (702)
Other51 (34)(24)— — (7)
Income (loss) before income taxes$38,934 $5,282 $6,782 $(53,803)$— $(2,805)
1.The revenues for oil and natural gas occur at a point in time. The revenues for contract drilling and gas gathering and processing occur over time.