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Supplemental Oil and Gas Reserve Information - Unaudited (Tables)
 12 Months Ended
Dec. 31, 2014
Oil and Gas Exploration and Production Industries Disclosures [Abstract]  
Net Proved, Proved Developed and Proved Undeveloped Reserves
The following table sets forth the Company’s estimated net proved, proved developed and proved undeveloped reserves at December 31, 2014, 2013 and 2012:
 
 
Oil
(MBbl)
 
Gas
(MMcf)
 
MBoe
2012
 
 
 
 
 
Proved reserves
 
 
 
 
 
Beginning balance
69,064

 
57,900

 
78,715

Revisions of previous estimates
(567
)
 
(8,495
)
 
(1,983
)
Extensions, discoveries and other additions
66,245

 
45,759

 
73,871

Sales of reserves in place
—

 
—

 
—

Purchases of reserves in place
881

 
512

 
966

Production
(7,533
)
 
(4,146
)
 
(8,224
)
Net proved reserves at December 31, 2012
128,090

 
91,530

 
143,345

Proved developed reserves, December 31, 2012
62,602

 
44,695

 
70,051

Proved undeveloped reserves, December 31, 2012
65,488

 
46,835

 
73,294

2013
 
 
 
 
 
Proved reserves
 
 
 
 
 
Beginning balance
128,090

 
91,530

 
143,345

Revisions of previous estimates
3,390

 
10,412

 
5,125

Extensions, discoveries and other additions
40,784

 
31,856

 
46,094

Sales of reserves in place
—

 
—

 
—

Purchases of reserves in place
37,459

 
49,631

 
45,731

Production
(11,133
)
 
(7,450
)
 
(12,375
)
Net proved reserves at December 31, 2013
198,590

 
175,979

 
227,920

Proved developed reserves, December 31, 2013
106,774

 
92,170

 
122,136

Proved undeveloped reserves, December 31, 2013
91,816

 
83,809

 
105,784

2014
 
 
 
 
 
Proved reserves
 
 
 
 
 
Beginning balance
198,590

 
175,979

 
227,920

Revisions of previous estimates
(23,069
)
 
(12,290
)
 
(25,117
)
Extensions, discoveries and other additions
80,855

 
70,449

 
92,596

Sales of reserves in place
(7,640
)
 
(4,850
)
 
(8,448
)
Purchases of reserves in place
1,546

 
1,523

 
1,799

Production
(14,883
)
 
(10,691
)
 
(16,664
)
Net proved reserves at December 31, 2014
235,399

 
220,120

 
272,086

Proved developed reserves, December 31, 2014
127,340

 
114,016

 
146,343

Proved undeveloped reserves, December 31, 2014
108,059

 
106,104

 
125,743
Standardized Measure of Discounted Future Cash Flows
The following table sets forth the Standardized Measure of discounted future net cash flows from projected production of the Company’s estimated net proved reserves at December 31, 2014, 2013 and 2012.
 
 
At December 31,
 
2014
 
2013
 
2012
 
(In thousands)
Future cash inflows
$
21,656,832

 
$
19,063,500

 
$
11,321,992

Future production costs
(7,094,426
)
 
(5,473,767
)
 
(2,809,960
)
Future development costs
(2,563,062
)
 
(1,904,095
)
 
(1,434,648
)
Future income tax expense
(3,188,389
)
 
(3,628,977
)
 
(2,123,973
)
Future net cash flows
8,810,955

 
8,056,661

 
4,953,411

10% annual discount for estimated timing of cash flows
(4,829,294
)
 
(4,329,102
)
 
(2,693,514
)
Standardized measure of discounted future net cash flows
$
3,981,661

 
$
3,727,559

 
$
2,259,897
Changes in Standardized Measure of Discounted Future Net Cash Flows Applicable to Proved Oil and Natural Gas Reserves
The following table sets forth the changes in the Standardized Measure of discounted future net cash flows applicable to estimated net proved reserves for the periods presented.
 
 
2014
 
2013
 
2012
 
(In thousands)
January 1
$
3,727,559

 
$
2,259,897

 
$
1,319,471

Net changes in prices and production costs
(588,212
)
 
254,979

 
(7,814
)
Net changes in future development costs
(61,760
)
 
57,566

 
28,124

Sales of oil and natural gas, net
(979,938
)
 
(857,540
)
 
(542,515
)
Extensions
1,751,007

 
1,111,202

 
1,358,479

Discoveries
—

 
—

 
—

Purchases of reserves in place
38,035

 
858,382

 
15,890

Sales of reserves in place
(251,002
)
 
—

 
—

Revisions of previous quantity estimates
(604,651
)
 
99,954

 
(47,957
)
Previously estimated development costs incurred
249,926

 
373,912

 
480,925

Accretion of discount
548,690

 
346,068

 
190,370

Net change in income taxes
259,592

 
(774,910
)
 
(400,196
)
Changes in timing and other
(107,585
)
 
(1,951
)
 
(134,880
)
December 31
$
3,981,661

 
$
3,727,559

 
$
2,259,897