Segment Information

6 Months Ended

Jun. 30, 2015

Segment Reporting [Abstract]

Segment Information

Note 15—Segment Information

We have changed our reportable segments to separate our retail operations from our refining operations due to a change in senior leadership, organizational structure, the acquisition of Mid Pac and to reflect how we currently make financial decisions and allocate resources. Beginning with the second quarter, the results of operations of Mid Pac are included in our Refining and Distribution and Retail segments. We previously reported results for the following three business segments: (i) Refining, Distribution and Marketing, (ii) Natural Gas and Oil Production and (iii) Commodity Marketing and Logistics. Effective in the first quarter of 2015, our reportable segments are: (i) Refining and Distribution, (ii) Retail, (iii) Natural Gas and Oil Production, and (iv) Commodity Marketing and Logistics. Corporate and Other includes administrative and other costs.We have recast the segment information for the three and six months ended June 30, 2014 below to conform to the current period presentation.

Summarized financial information concerning reportable segments consists of the following (in thousands):

Three months ended June 30, 2015	Refining and Distribution			Retail		Natural Gas and Oil Production			Commodity Marketing and Logistics			Corporate and Other			Total
Segment revenues	$	538,453		$	80,938	$	1,709		$	25,125		$	—		$	646,225
Intersegment elimination	(62,466		)	—		—			—			—			(62,466		)
Revenues	475,987			80,938		1,709			25,125			—			583,759
Cost of revenues	417,315			64,298		—			23,418			—			505,031
Operating expense, excluding DD&A	22,714			9,757		—			—			—			32,471
Lease operating expenses	—			—		1,508			—			—			1,508
Depreciation, depletion, and amortization	2,891			1,590		9			229			286			5,005
General and administrative expense	4,501			959		400			2,131			3,823			11,814
Acquisition and integration costs	—			—		—			—			470			470
Operating income (loss)	28,566			4,334		(208		)	(653		)	(4,579		)	27,460
Interest expense and financing costs, net															(5,825		)
Loss on termination of financing agreements															(19,229		)
Other expense, net															(158		)
Change in value of common stock warrants															3,313
Change in value of contingent consideration															(9,495		)
Equity loss from Piceance Energy, LLC															(2,950		)
Loss before income taxes															(6,884		)
Income tax benefit															18,607
Net income															$	11,723
Capital expenditures	$	4,570		$	104	$	—		$	—		$	452		$	5,126

Three months ended June 30, 2014	Refining and Distribution			Retail		Natural Gas and Oil Production			Commodity Marketing and Logistics		Corporate and Other			Total
Segment revenues	$	750,518		$	59,419	$	1,839		$	29,183	$	—		$	840,959
Intersegment elimination	(38,822		)	—		—			—		—			(38,822		)
Revenues	711,696			59,419		1,839			29,183		—			802,137
Cost of revenues	701,246			51,438		—			26,617		—			779,301
Operating expense, excluding DD&A	27,958			6,116		—			—		—			34,074
Lease operating expense	—			—		1,700			—		—			1,700
Depreciation, depletion, and amortization	1,917			557		255			508		53			3,290
General and administrative expense	433			128		94			823		4,255			5,733
Acquisition and integration costs	1,528			—		—			—		891			2,419
Operating (loss) income	(21,386		)	1,180		(210		)	1,235		(5,199		)	(24,380		)
Interest expense and financing costs, net														(3,397		)
Other expense, net														(95		)
Change in value of common stock warrants														140
Change in value of contingent consideration														2,297
Equity earnings from Piceance Energy, LLC														760
Loss before income taxes														(24,675		)
Income tax expense														(2		)
Net loss														$	(24,677	)
Capital expenditures	$	2,922		$	100	$	676		$	193	$	—		$	3,891

Six months ended June 30, 2015	Refining and Distribution			Retail		Natural Gas and Oil Production			Commodity Marketing and Logistics			Corporate and Other			Total
Segment revenues	$	1,033,071		$	127,657	$	2,185		$	66,079		$	—		$	1,228,992
Intersegment elimination	(83,512		)	—		—			(18,110		)	—			(101,622		)
Revenues	949,559			127,657		2,185			47,969			—			1,127,370
Cost of revenues	838,585			97,728		—			46,224			—			982,537
Operating expense, excluding DD&A	49,069			15,682		—			—			—			64,751
Lease operating expenses	—			—		3,039			—			—			3,039
Depreciation, depletion, and amortization	5,158			2,183		23			458			434			8,256
General and administrative expense	8,710			1,785		400			3,363			7,681			21,939
Acquisition and integration costs	—			—		—			—			1,531			1,531
Operating income (loss)	48,037			10,279		(1,277		)	(2,076		)	(9,646		)	45,317
Interest expense and financing costs, net															(11,382		)
Loss on termination of financing agreements															(19,229		)
Other expense, net															(154		)
Change in value of common stock warrants															(1,709		)
Change in value of contingent consideration															(14,424		)
Equity loss from Piceance Energy, LLC															(4,776		)
Loss before income taxes															(6,357		)
Income tax benefit															18,542
Net income															$	12,185
Capital expenditures	$	8,586		$	502	$	—		$	—		$	785		$	9,873

Six months ended June 30, 2014	Refining and Distribution			Retail		Natural Gas and Oil Production			Commodity Marketing and Logistics		Corporate and Other			Total
Segment revenues	$	1,452,826		$	111,250	$	3,416		$	48,978	$	—		$	1,616,470
Intersegment elimination	(71,087		)	—		—			—		—			(71,087		)
Revenues	1,381,739			111,250		3,416			48,978		—			1,545,383
Cost of revenues	1,352,162			95,406		—			44,782		—			1,492,350
Operating expense, excluding DD&A	55,129			12,039		—			—		—			67,168
Lease operating expense	—			—		2,759			—		—			2,759
Depreciation, depletion, and amortization	3,621			1,111		525			1,014		80			6,351
General and administrative expense	1,533			651		244			1,913		6,326			10,667
Acquisition and integration costs	4,028			—		—			—		1,242			5,270
Operating (loss) income	(34,734		)	2,043		(112		)	1,269		(7,648		)	(39,182		)
Interest expense and financing costs, net														(6,904		)
Other expense, net														(140		)
Change in value of common stock warrants														1,717
Change in value of contingent consideration														4,762
Equity loss from Piceance Energy, LLC														539
Loss before income taxes														(39,208		)
Income tax expense														(37		)
Net loss														$	(39,245	)
Capital expenditures	$	4,761		$	100	$	748		$	300	$	—		$	5,909