| Segment Reporting |
The following tables present the Company’s segment revenues and other operating income, significant segment operating expenses, and segment income (loss) from operations: | | | | | | | | | | | | | | | | | | Year Ended December 31, 2025 | | | | | | | | | Total | | | | | | | | | Upstream/ | | | | | Reportable | | Corporate | | | | (in thousands) | | Midstream | | Power | | Segments | | and Other | | Total | Revenues and other operating income | | | | | | | | | | | | | | | | Natural gas, NGL, and oil sales | | $ | 857,597 | | $ | — | | $ | 857,597 | | $ | — | | $ | 857,597 | Power revenues | | | — | | | 248,752 | | | 248,752 | | | — | | | 248,752 | Midstream revenues | | | 10,456 | | | — | | | 10,456 | | | — | | | 10,456 | Derivative gains (losses), net | | | 105,081 | | | 274,788 | | | 379,869 | | | — | | | 379,869 | Marketing revenues | | | — | | | — | | | — | | | 12,304 | | | 12,304 | Section 45Q tax credits | | | — | | | — | | | — | | | 11,752 | | | 11,752 | Loss on sales of assets | | | (1,798) | | | — | | | (1,798) | | | (7) | | | (1,805) | Other | | | 11,664 | | | — | | | 11,664 | | | — | | | 11,664 | Total revenues and other operating income | | $ | 983,000 | | $ | 523,540 | | $ | 1,506,540 | | $ | 24,049 | | $ | 1,530,589 | Operating expenses | | | | | | | | | | | | | | | | Lease operating and workover | | | 152,873 | | | — | | | 152,873 | | | — | | | 152,873 | Fuel commodity costs | | | — | | | 180,364 | | | 180,364 | | | — | | | 180,364 | Purchased power | | | — | | | 113,968 | | | 113,968 | | | — | | | 113,968 | Taxes other than income | | | 50,761 | | | 15,645 | | | 66,406 | | | 1 | | | 66,407 | Gathering and transportation | | | 250,849 | | | — | | | 250,849 | | | — | | | 250,849 | Depreciation, depletion, amortization, and accretion | | | 155,713 | | | 38,273 | | | 193,986 | | | 1,751 | | | 195,737 | General and administrative | | | 68,944 | | | 19,999 | | | 88,943 | | | 42,629 | | | 131,572 | Power operating and maintenance | | | — | | | 78,435 | | | 78,435 | | | — | | | 78,435 | Other operating expenses | | | 29,034 | | | 8,296 | | | 37,330 | | | 19,344 | | | 56,674 | Total operating expenses | | | 708,174 | | | 454,980 | | | 1,163,154 | | | 63,725 | | | 1,226,879 | Income (loss) from operations | | $ | 274,826 | | $ | 68,560 | | $ | 343,386 | | $ | (39,676) | | $ | 303,710 | Capital expenditures | | $ | 258,549 | | $ | 4,954 | | $ | 263,503 | | $ | 41,616 | | $ | 305,119 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, 2024 | | | | | | | | | Total | | | | | | | | | Upstream/ | | | | | Reportable | | Corporate | | | | (in thousands) | | Midstream | | Power | | Segments | | and Other | | Total | Revenues and other operating income | | | | | | | | | | | | | | | | Natural gas, NGL, and oil sales | | $ | 557,570 | | $ | — | | $ | 557,570 | | $ | — | | $ | 557,570 | Power revenues | | | — | | | 218,268 | | | 218,268 | | | — | | | 218,268 | Midstream revenues | | | 12,560 | | | — | | | 12,560 | | | — | | | 12,560 | Derivative gains (losses), net | | | (34,152) | | | 241,612 | | | 207,460 | | | — | | | 207,460 | Marketing revenues | | | — | | | — | | | — | | | 10,668 | | | 10,668 | Section 45Q tax credits | | | — | | | — | | | — | | | 14,021 | | | 14,021 | Gain on sale of business | | | 7,080 | | | — | | | 7,080 | | | — | | | 7,080 | Gain on sales of assets | | | 3,523 | | | — | | | 3,523 | | | — | | | 3,523 | Other | | | 6,631 | | | — | | | 6,631 | | | — | | | 6,631 | Total revenues and other operating income | | $ | 553,212 | | $ | 459,880 | | $ | 1,013,092 | | $ | 24,689 | | $ | 1,037,781 | Operating expenses | | | | | | | | | | | | | | | | Lease operating and workover | | | 136,991 | | | — | | | 136,991 | | | — | | | 136,991 | Fuel commodity costs | | | — | | | 118,662 | | | 118,662 | | | — | | | 118,662 | Purchased power | | | — | | | 108,327 | | | 108,327 | | | — | | | 108,327 | Taxes other than income | | | 34,961 | | | 12,843 | | | 47,804 | | | 48 | | | 47,852 | Gathering and transportation | | | 222,391 | | | — | | | 222,391 | | | — | | | 222,391 | Depreciation, depletion, amortization, and accretion | | | 215,541 | | | 37,967 | | | 253,508 | | | 1,992 | | | 255,500 | General and administrative | | | 59,417 | | | 14,524 | | | 73,941 | | | 36,090 | | | 110,031 | Power operating and maintenance | | | — | | | 81,071 | | | 81,071 | | | — | | | 81,071 | Other operating expenses | | | 12,647 | | | 1,809 | | | 14,456 | | | 6,738 | | | 21,194 | Total operating expenses | | | 681,948 | | | 375,203 | | | 1,057,151 | | | 44,868 | | | 1,102,019 | Loss from operations | | $ | (128,736) | | $ | 84,677 | | $ | (44,059) | | $ | (20,179) | | $ | (64,238) | Capital expenditures | | $ | 88,384 | | $ | 4,445 | | $ | 92,829 | | $ | 12,532 | | $ | 105,361 |
| | | | | | | | | | | | | | | | | | Year Ended December 31, 2023 | | | | | | | | | Total | | | | | | | | | Upstream/ | | | | | Reportable | | Corporate and | | | | (in thousands) | | Midstream | | Power | | Segments | | Other | | Total | Revenues and other operating income | | | | | | | | | | | | | | | | Natural gas, NGL, and oil sales | | $ | 706,151 | | $ | — | | $ | 706,151 | | $ | — | | $ | 706,151 | Power revenues | | | — | | | 274,623 | | | 274,623 | | | — | | | 274,623 | Midstream revenues | | | 16,168 | | | — | | | 16,168 | | | — | | | 16,168 | Derivative gains (losses), net | | | 238,743 | | | 51,981 | | | 290,724 | | | — | | | 290,724 | Marketing revenues | | | — | | | — | | | — | | | 8,710 | | | 8,710 | Section 45Q tax credits | | | — | | | — | | | — | | | 701 | | | 701 | Gain on sales of assets | | | 2,162 | | | — | | | 2,162 | | | 45 | | | 2,207 | Other | | | 3,957 | | | — | | | 3,957 | | | — | | | 3,957 | Total revenues and other operating income | | $ | 967,181 | | $ | 326,604 | | $ | 1,293,785 | | $ | 9,456 | | $ | 1,303,241 | Operating expenses | | | | | | | | | | | | | | | | Lease operating and workover | | | 150,647 | | | — | | | 150,647 | | | — | | | 150,647 | Fuel commodity costs | | | — | | | 94,213 | | | 94,213 | | | — | | | 94,213 | Purchased power | | | — | | | 27,769 | | | 27,769 | | | — | | | 27,769 | Taxes other than income | | | 72,290 | | | 8,827 | | | 81,117 | | | — | | | 81,117 | Gathering and transportation | | | 248,990 | | | — | | | 248,990 | | | — | | | 248,990 | Depreciation, depletion, amortization, and accretion | | | 223,165 | | | 31,752 | | | 254,917 | | | 205 | | | 255,122 | General and administrative | | | 65,852 | | | 27,917 | | | 93,769 | | | 39,805 | | | 133,574 | Power operating and maintenance | | | — | | | 56,365 | | | 56,365 | | | — | | | 56,365 | Other operating expenses | | | 12,353 | | | 1,671 | | | 14,024 | | | 272 | | | 14,296 | Total operating expenses | | | 773,297 | | | 248,514 | | | 1,021,811 | | | 40,282 | | | 1,062,093 | Income from operations | | $ | 193,884 | | $ | 78,090 | | $ | 271,974 | | $ | (30,826) | | $ | 241,148 | Capital expenditures | | $ | 137,085 | | $ | 13,797 | | $ | 150,882 | | | 50,631 | | $ | 201,513 |
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