| Summary of segment disclosure |
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Marketing & |
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Year ended December 31, 2021 |
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Upstream |
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Midstream |
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Trading |
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Corporate |
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Consolidated |
Revenues from external customers (1) |
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2,317 |
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— |
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68,958 |
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— |
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$ |
71,275 |
Intersegment revenues (purchases) (2) (3) |
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49,182 |
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— |
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(44,755) |
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(4,427) |
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— |
Segment operating loss (4) |
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(5,651) |
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(42,040) |
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(22,889) |
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(42,153) |
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(112,733) |
Interest expense, net |
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(1,642) |
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(4,722) |
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— |
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(3,014) |
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(9,378) |
Gain on extinguishment of debt, net |
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(665) |
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2,087 |
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— |
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— |
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1,422 |
Other (loss) income , net |
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(1,284) |
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(2,494) |
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9,460 |
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269 |
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5,951 |
Consolidated loss before tax |
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$ |
(114,738) |
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Marketing & |
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Year ended December 31, 2020 |
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Upstream |
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Midstream |
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Trading |
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Corporate |
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Consolidated |
Revenues from external customers (1) |
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2,358 |
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— |
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35,076 |
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— |
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$ |
37,434 |
Intersegment revenues (purchases) (2) |
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28,083 |
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— |
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(28,083) |
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— |
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— |
Segment operating loss (4) |
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(100,788) |
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(15,027) |
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(13,886) |
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(36,938) |
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(166,639) |
Interest expense, net |
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(6,215) |
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(14,424) |
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— |
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(22,806) |
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(43,445) |
Other income (loss), net |
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2,452 |
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195 |
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(408) |
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(2,851) |
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(612) |
Consolidated loss before tax |
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$ |
(210,696) |
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Marketing & |
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Year ended December 31, 2019 |
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Upstream |
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Midstream |
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Trading |
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Corporate |
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Consolidated |
Revenues from external customers (1) |
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7,716 |
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— |
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21,058 |
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— |
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$ |
28,774 |
Intersegment revenues (purchases) (2) |
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21,058 |
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— |
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(21,058) |
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— |
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— |
Segment operating loss (4) |
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(39,104) |
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(41,380) |
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(17,687) |
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(47,688) |
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(145,859) |
Interest (expense) income, net |
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(5,460) |
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(12,818) |
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— |
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1,923 |
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(16,355) |
Other income, net |
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7,176 |
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— |
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— |
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3,271 |
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10,447 |
Consolidated loss before tax |
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$ |
(151,767) |
| (1) |
The Marketing & Trading segment markets to third party-purchasers most of the Company’s natural gas production from the Upstream segment. |
| (2) |
The Marketing & Trading segment purchases most of the Company’s natural gas production from the Upstream segment. Intersegment revenues are eliminated at consolidation. |
| (3) |
Intersegment revenues related to the Marketing & Trading segment are a result of cost allocations to the Corporate component using a cost plus transfer pricing methodology. Intersegment revenues are eliminated at consolidation. |
| (4) |
Operating profit (loss) is defined as operating revenues less operating costs and allocated corporate costs. |
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| Schedule of capital expenditures |
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Year Ended December 31, |
Capital expenditures |
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2021 |
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2020 |
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2019 |
Upstream |
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$ |
32,364 |
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$ |
1,307 |
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$ |
45,354 |
Midstream |
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25,501 |
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— |
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26,177 |
Marketing & Trading |
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— |
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— |
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1,104 |
Total capital expenditures for reportable segments |
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57,865 |
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1,307 |
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72,635 |
Corporate capital expenditures |
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— |
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— |
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1,447 |
Consolidated capital expenditures |
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$ |
57,865 |
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$ |
1,307 |
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$ |
74,082 |
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