| Schedule of Segment Reporting Information, by Segment |
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| Three Months Ended June 30, 2023 |
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Upstream |
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Midstream |
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Marketing & Trading |
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Corporate |
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Consolidated |
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Revenues from external customers (1)
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$ |
5,780 |
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$ |
— |
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$ |
26,207 |
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$ |
— |
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$ |
31,987 |
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Intersegment revenues (purchases) (2) (3)
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26,207 |
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(1,765) |
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(22,782) |
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(1,660) |
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— |
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Segment operating loss (4)
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(28,698) |
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(16,281) |
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(2,938) |
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(8,974) |
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(56,891) |
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| Interest income (expense), net |
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351 |
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(252) |
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3 |
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(4,284) |
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(4,182) |
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| Other income (expense), net |
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1,075 |
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— |
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487 |
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(108) |
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1,454 |
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| Consolidated loss before tax |
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$ |
(59,619) |
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| Three Months Ended June 30, 2022 |
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Upstream |
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Midstream |
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Marketing & Trading |
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Corporate |
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Consolidated |
Revenues from external customers (1)
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$ |
— |
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$ |
— |
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$ |
61,350 |
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$ |
— |
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$ |
61,350 |
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Intersegment revenues (purchases) (2) (3)
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61,352 |
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(230) |
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(59,404) |
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(1,718) |
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— |
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Segment operating profit (loss) (4)
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38,505 |
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(20,016) |
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(4,292) |
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(5,845) |
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8,352 |
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| Interest expense, net |
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— |
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(995) |
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— |
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(3,571) |
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(4,566) |
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| Other income (expense), net |
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— |
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— |
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(3,746) |
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(75) |
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(3,821) |
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| Consolidated loss before tax |
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$ |
(35) |
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| Six Months Ended June 30, 2023 |
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Upstream |
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Midstream |
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Marketing & Trading |
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Corporate |
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Consolidated |
Revenues from external customers (1)
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$ |
9,634 |
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$ |
— |
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$ |
73,288 |
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$ |
— |
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$ |
82,922 |
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Intersegment revenues (purchases) (2) (3)
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73,288 |
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(3,120) |
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(65,980) |
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(4,188) |
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— |
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Segment operating loss (4)
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(31,685) |
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(33,996) |
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(5,674) |
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(18,540) |
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(89,895) |
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| Interest income (expense), net |
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577 |
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(503) |
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2 |
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(8,268) |
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(8,192) |
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| Loss on extinguishment of debt, net |
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— |
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— |
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— |
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(2,822) |
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(2,822) |
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| Other income (expense), net |
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1,193 |
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— |
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12,816 |
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(212) |
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13,797 |
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| Consolidated loss before tax |
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$ |
(87,112) |
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| Six Months Ended June 30, 2022 |
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Upstream |
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Midstream |
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Marketing & Trading |
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Corporate |
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Consolidated |
Revenues from external customers (1)
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$ |
— |
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$ |
— |
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$ |
208,290 |
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$ |
— |
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$ |
208,290 |
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Intersegment revenues (purchases) (2) (3)
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87,341 |
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(230) |
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(77,115) |
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(9,996) |
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— |
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Segment operating profit (loss) (4)
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43,101 |
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(37,800) |
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(16,583) |
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(23,265) |
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(34,547) |
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| Interest expense, net |
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— |
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(1,990) |
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(454) |
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(4,402) |
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(6,846) |
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| Other (expense) income, net |
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— |
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— |
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(25,758) |
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509 |
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(25,249) |
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| Consolidated loss before tax |
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$ |
(66,642) |
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(1) The Marketing & Trading segment markets to third party-purchasers most of the Company's natural gas production from the Upstream segment.
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(2) The Marketing & Trading segment purchases most of the Company’s natural gas production from the Upstream segment. Intersegment revenues are eliminated at consolidation.
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(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 related to the Corporate component are associated with intercompany interest charged to the Midstream segment. Intersegment revenues are eliminated at consolidation.
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(4) Operating profit (loss) is defined as operating revenues less operating costs and allocated corporate costs.
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Six Months Ended June 30, |
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| Capital expenditures |
2023 |
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2022 |
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| Upstream |
$ |
95,645 |
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$ |
66,500 |
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| Midstream |
112,565 |
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86,150 |
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| Marketing & Trading |
490 |
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— |
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| Total capital expenditures for reportable segments |
208,700 |
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152,650 |
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| Corporate capital expenditures |
2,626 |
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— |
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| Consolidated capital expenditures |
$ |
211,326 |
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$ |
152,650 |
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