Segment Information Beginning in the fourth quarter of 2018, the Company has two operating segments, (i) the exploration, development and production of oil, natural gas and NGL (the "exploration and production segment") and (ii) the construction and support of midstream assets to gather and process crude oil and gas production (the "gathering and facilities segment"). Prior to the fourth quarter of 2018, the Company had a single operating segment. The gathering systems and facilities operating segment was under development as of September 30, 2019. Capital expenditures associated with gathering systems and facilities are being incurred to develop midstream infrastructure to support the Company's development of its oil and gas leasehold along with third-party activity. The Company's exploration and production segment revenues are derived from third parties. The Companys gathering and facilities segment was in the construction phase and no revenue generating activities had commenced as of September 30, 2019; however, on October 3, 2019, Elevation commenced moving crude oil, natural gas and water through its Badger central gathering facility. Financial information of the Company's reportable segments was as follows for the three months ended September 30, 2019 and 2018 (in thousands). For the Three Months Ended September 30, 2019 Exploration and Production Gathering and Facilities Elimination of Intersegment Transactions Consolidated Total As restated As restated Revenues: Revenues from external customers $ 176,942 $  $  $ 176,942 Intersegment revenues     Total Revenues $ 176,942 $  $  $ 176,942 Operating Expenses and Other Income (Expense): Depletion, depreciation, amortization and accretion $ (114,971) $ (25) $  $ (114,996) Interest income 114 355  469 Interest expense (23,224)   (23,224) Earnings in unconsolidated subsidiaries  640  640 Subtotal Operating Expenses and Other Income (Expense): $ (138,081) $ 970 $  $ (137,111) Segment Assets $ 4,046,862 $ 395,224 $ (619) $ 4,441,467 Capital Expenditures $ 134,998 $ 65,098 $  $ 200,096 Investment in Equity Method Investees $  $ 35,992 $  $ 35,992 Segment EBITDAX $ 138,491 $ (622) $  $ 137,869 For the Three Months Ended September 30, 2018 Exploration and Production Gathering and Facilities Elimination of Intersegment Transactions Consolidated Total Revenues: Revenues from external customers $ 282,160 $  $  $ 282,160 Intersegment revenues     Total Revenues $ 282,160 $  $  $ 282,160 Operating Expenses and Other Income (Expense): Depletion, depreciation, amortization and accretion $ (107,315) $  $  $ (107,315) Interest income 135 635  770 Interest expense (20,725)   (20,725) Earnings in unconsolidated subsidiaries  843  843 Subtotal Operating Expenses and Other Income (Expense): $ (127,905) $ 1,478 $  $ (126,427) Segment Assets $ 3,894,535 $ 264,014 $ (224) $ 4,158,325 Capital Expenditures $ 202,811 $ 37,548 $  $ 240,359 Investment in Equity Method Investees $  $ 14,510 $  $ 14,510 Segment EBITDAX $ 170,004 $ (601) $  $ 169,403 Financial information of the Company's reportable segments was as follows for the nine months ended September 30, 2019 and 2018 (in thousands). For the Nine Months Ended September 30, 2019 Exploration and Production Gathering and Facilities Elimination of Intersegment Transactions Consolidated Total As restated As restated Revenues: Revenues from external customers $ 620,916 $  $  $ 620,916 Intersegment revenues     Total Revenues $ 620,916 $  $  $ 620,916 Operating Expenses and Other Income (Expense): Depletion, depreciation, amortization and accretion $ (352,062) $ (72) $  $ (352,134) Interest income 372 1,286  1,658 Interest expense (54,791)   (54,791) Earnings in unconsolidated subsidiaries  1,179  1,179 Subtotal Operating Expenses and Other Income (Expense): $ (406,481) $ 2,393 $  $ (404,088) Segment Assets $ 4,046,862 $ 395,224 $ (619) $ 4,441,467 Capital Expenditures $ 516,510 $ 192,568 $  $ 709,078 Investment in Equity Method Investees $  $ 35,992 $  $ 35,992 Segment EBITDAX $ 406,539 $ (1,168) $  $ 405,371 For the Nine Months Ended September 30, 2018 Exploration and Production Gathering and Facilities Elimination of Intersegment Transactions Consolidated Total Revenues: Revenues from external customers $ 772,571 $  $  $ 772,571 Intersegment revenues     Total Revenues $ 772,571 $  $  $ 772,571 Operating Expenses and Other Income (Expense): Depletion, depreciation, amortization and accretion $ (310,296) $  $  $ (310,296) Interest income 280 635  915 Interest expense (103,229)   (103,229) Earnings in unconsolidated subsidiaries  1,567  1,567 Subtotal Operating Expenses and Other Income (Expense): $ (413,245) $ 2,202 $  $ (411,043) Segment Assets $ 3,894,535 $ 264,014 $ (224) $ 4,158,325 Capital Expenditures $ 730,878 $ 57,224 $  $ 788,102 Investment in Equity Method Investees $  $ 14,510 $  $ 14,510 Segment EBITDAX $ 463,415 $ 102 $  $ 463,517 The following table presents a reconciliation of Adjusted EBITDAX by segment to the GAAP financial measure of income (loss) before income taxes for the three and nine months ended September 30, 2019 and 2018 (in thousands). For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 As restated As restated Reconciliation of Adjusted EBITDAX to Income Before Income Taxes Exploration and production segment EBITDAX $ 138,491 $ 170,004 $ 406,539 $ 463,415 Gathering and facilities segment EBITDAX (622) (601) (1,168) 102 Subtotal of Reportable Segments $ 137,869 $ 169,403 $ 405,371 $ 463,517 Less: Depletion, depreciation, amortization and accretion $ (114,996) $ (107,315) $ (352,134) $ (310,296) Impairment of long lived assets  (16,166) (11,233) (16,294) Exploration expenses (13,245) (11,038) (32,725) (21,326) Gain on sale of property and equipment and assets of unconsolidated subsidiary 1,011 83,559 1,329 143,461 Gain (loss) on commodity derivatives 87,956 (35,913) 39,383 (175,752) Settlements on commodity derivative instruments (16,101) 41,009 8,432 99,914 Premiums paid for derivatives that settled during the period 812 1,956 19,910 5,191 Stock-based compensation expense (11,358) (17,420) (39,306) (50,883) Amortization of debt issuance costs (974) (935) (3,799) (12,303) Make-whole premium on 2021 Senior Notes    (35,600) Gain on repurchase of 2026 Senior Notes   10,486  Interest expense (22,250) (19,790) (61,478) (55,326) Income (Loss) Before Income Taxes $ 48,724 $ 87,350 $ (15,764) $ 34,303