Industry Segment Information (Tables)

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Industry segment information

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

	Three Months Ended March 31, 2023
	Oil and Natural Gas		Contract Drilling		Mid-Stream		Corporate and Other		Eliminations		Total Consolidated
	(In thousands)
Revenues: (1)
Oil and natural gas	$	48,026	$	—	$	—	$	—	$	—	$	48,026
Contract drilling	—		45,903		—		—		—		45,903
Total revenues	48,026		45,903		—		—		—		93,929
Expenses:
Operating costs:
Oil and natural gas	17,164		—		—		—		—		17,164
Contract drilling	—		26,872		—		—		—		26,872
Total operating costs	17,164		26,872		—		—		—		44,036
Depreciation, depletion, and amortization	2,136		1,659		—		96		—		3,891
General and administrative	—		—		—		5,090		—		5,090
Gain on disposition of assets	(97)		(3,656)		—		—		—		(3,753)
Total operating expenses	19,203		24,875		—		5,186		—		49,264
Income (loss) from operations	28,823		21,028		—		(5,186)		—		44,665
Other income (expense):
Interest income	—		—		—		1,757		—		1,757
Interest expense	—		—		—		(39)		—		(39)
Gain on derivatives	—		—		—		13,595		—		13,595
Reorganization items, net	—		—		—		(81)		—		(81)
Other	(20)		125		—		2		—		107
Total other income (expense)	(20)		125		—		15,234		—		15,339
Income before income taxes	$	28,803	$	21,153	$	—	$	10,048	$	—	$	60,004

1.The revenues for oil and natural gas occur at a point in time. The revenues for contract drilling occur over time.

	Three Months Ended March 31, 2022
	Oil and Natural Gas		Contract Drilling		Mid-Stream (2)		Corporate and Other		Eliminations		Total Consolidated
	(In thousands)
Revenues: (1)
Oil and natural gas	$	87,582	$	—	$	—	$	—	$	(10,772)	$	76,810
Contract drilling	—		28,882		—		—		—		28,882
Gas gathering and processing	—		—		83,198		—		(525)		82,673
Total revenues	87,582		28,882		83,198		—		(11,297)		188,365
Expenses:
Operating costs:
Oil and natural gas	24,000		—		—		—		(525)		23,475
Contract drilling	—		26,237		—		—		—		26,237
Gas gathering and processing	—		—		73,771		—		(11,383)		62,388
Total operating costs	24,000		26,237		73,771		—		(11,908)		112,100
Depreciation, depletion, and amortization	4,048		1,534		5,614		74		—		11,270
General and administrative	—		—		—		5,915		611		6,526
Gain on disposition of assets	(53)		(2,125)		—		3		—		(2,175)
Total operating expenses	27,995		25,646		79,385		5,992		(11,297)		127,721
Income (loss) from operations	59,587		3,236		3,813		(5,992)		—		60,644
Other income (expense):
Interest income	—		—		—		10		—		10
Interest expense	—		—		(178)		(96)		—		(274)
Loss on derivatives	—		—		—		(64,076)		—		(64,076)
Loss on change in fair value of warrants	—		—		—		(36,612)		—		(36,612)
Loss on deconsolidation of Superior	—		—		—		(13,141)		—		(13,141)
Reorganization items, net	—		—		—		(3)		—		(3)
Other	708		20		17		2		—		747
Total other income (expense)	708		20		(161)		(113,916)		—		(113,349)
Income (loss) before income taxes	$	60,295	$	3,256	$	3,652	$	(119,908)	$	—	$	(52,705)

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.

2.Includes Superior activity for the two months prior to the March 1, 2022 deconsolidation, as discussed in Note 2 - Summary Of Significant Accounting Policies and Note 15 - Superior Investment.