| Schedule of Segment Reporting Information, by Segment |
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| Three Months Ended September 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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$ |
4,215 |
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$ |
— |
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$ |
39,035 |
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$ |
— |
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$ |
43,250 |
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Intersegment revenues (purchases) (2) (3)
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39,035 |
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(2,297) |
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(35,584) |
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(1,154) |
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— |
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Segment operating loss (4)
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(12,553) |
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(12,497) |
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(2,471) |
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(6,862) |
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(34,383) |
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| Interest income (expense), net |
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366 |
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(252) |
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2 |
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(4,108) |
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(3,992) |
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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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(29,473) |
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(29,473) |
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| Other (expense) income, net |
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— |
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— |
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(9) |
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2,440 |
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2,431 |
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| Consolidated loss before tax |
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$ |
(65,417) |
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| Three Months Ended September 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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$ |
14,205 |
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$ |
— |
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$ |
66,898 |
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$ |
— |
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$ |
81,103 |
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Intersegment revenues (purchases) (2) (3)
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66,900 |
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(578) |
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(68,217) |
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1,895 |
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— |
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Segment operating profit (loss) (4)
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40,071 |
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(19,297) |
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(11,042) |
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(4,303) |
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5,429 |
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| Interest expense, net |
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— |
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(994) |
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— |
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(5,950) |
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(6,944) |
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| Other income (expense), net |
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309 |
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— |
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(12,937) |
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(90) |
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(12,718) |
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| Consolidated loss before tax |
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$ |
(14,233) |
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| Nine Months Ended September 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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$ |
13,849 |
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$ |
— |
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$ |
112,323 |
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$ |
— |
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$ |
126,172 |
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Intersegment revenues (purchases) (2) (3)
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112,323 |
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(5,417) |
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(101,564) |
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(5,342) |
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— |
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Segment operating loss (4)
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(44,238) |
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(46,493) |
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(8,145) |
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(25,402) |
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(124,278) |
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| Interest income (expense), net |
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943 |
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(755) |
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6 |
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(12,378) |
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(12,184) |
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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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(32,295) |
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(32,295) |
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| Other income (expense), net |
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1,193 |
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— |
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12,808 |
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2,227 |
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16,228 |
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| Consolidated loss before tax |
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$ |
(152,529) |
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| Nine Months Ended September 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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$ |
15,620 |
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$ |
— |
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$ |
273,773 |
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$ |
— |
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$ |
289,393 |
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Intersegment revenues (purchases) (2) (3)
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152,824 |
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(808) |
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(141,385) |
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(10,631) |
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— |
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Segment operating profit (loss) (4)
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83,170 |
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(57,098) |
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(25,093) |
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(30,098) |
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(29,119) |
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| Interest expense, net |
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— |
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(2,984) |
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(455) |
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(10,351) |
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(13,790) |
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| Other income (expense), net |
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309 |
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— |
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(38,695) |
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420 |
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(37,966) |
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| Consolidated loss before tax |
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$ |
(80,875) |
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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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Nine Months Ended September 30, |
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| Capital expenditures |
2023 |
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2022 |
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| Upstream |
$ |
106,378 |
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$ |
236,558 |
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| Midstream |
168,210 |
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137,205 |
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| Marketing & Trading |
490 |
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— |
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| Total capital expenditures for reportable segments |
275,078 |
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373,763 |
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| Corporate capital expenditures |
2,300 |
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1,278 |
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| Consolidated capital expenditures |
$ |
277,378 |
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$ |
375,041 |
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